Archive for the 'Remsenberg' Category

TOWN & COUNTRY HAMPTONS 2ND QUARTER 2015 HOME SALES REPORT

Monday, July 20th, 2015

This second quarter report of 2015 is a most unusual one. After reporting on home sales statistics for over 30 years, even I still get surprised by the factual numbers as they are recorded.

TOWN & COUNTRY’S Home Sales Reports are laser focused on 11 specific Hamptons markets, monitoring 3 criteria. The first metric of the Number of Home Sales shows 8 of the 12 markets are down, 1 flat and only 3 markets reported increases in the number of trades. Magnificent Montauk saw the greatest increase of 22% from 23 to 28 homes sold same quarter year-to-year. Sag Harbor Village and Sag Harbor Area (which includes North Sea) experienced the greatest declines of 45% and 43% respectively. 

The second metric of Total Home Sales Volume tells a different story for the 2nd Quarter of 2015 with 6 of the 12 markets enjoying increases by as much as 69% in Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue). In fact, the Westhampton markets had a statistical joy ride with significant increases in all 3 criteria monitored by TOWN & COUNTRY. Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue) had 20% increase in the Number of Home Sales, a 69% explosion in Total Home Sales Volume and a giant 76% up-tick in the Median Home Sales Price from $697,500 to $1,225,000. Looking closely at the 8 specific price ranges we track and the picture is clear that the increases in activity were at the higher price points.

While the 76% jump in the Westhampton’s Median Home Sales Price is impressive, East Hampton Village was off the charts with a 93% leap from $2,678,750 for the 2nd Quarter of 2014 to $5,175,000 for the same Quarter 2015. East Hampton Village logged 4 of the 10 sales $10-$20M for the entire Hamptons. Bridgehampton (which includes Water Mill and Sagaponack) was an honorable mention with 3 sales in that price category and the only Hampton market to log a home sale over $20M. In fact, the top sale for the quarter was a $29.5M sale of 493 Rose Hill Road in Water Mill, Andrew Zaro’s beautiful home on Mecox Bay.

Looking at All Hamptons Markets Combined and you see that the 2nd Quarter of 2015 was only slightly off from 2014 or 40 less transfers, but the Median Home Sales Price and Total Home Sales Volume both increased due to heightened activity in the higher price points. In fact the $3.5M – $4.99M price range saw the greatest increase in activity with 47% more sales.

Click HERE for full report & statistics: 

Judi A. Desiderio, Chief Executive Officer
JD@TownAndCountryHamptons.com       
631.324.8080 ext. 221

Hamptons 4th Quarter 2011 Home Sales Report

Tuesday, January 17th, 2012

 

TOWN & COUNTRY’S 4th Quarter Hamptons Home Sales Report shows in black and white (and red) exactly what the home sales activity for late fall, early winter of 2011 was all about.

Ordinarily, we close these reports with looking at all the All Hampton Markets Combined, but this time we will begin with evaluating the cumulative figures as it is a good indicator.  In All Hampton Markets Combined, the number of home Sales increased 9.43% from 265 to 290 4th Quarter Year to Year, yet the Median Home Sales Price dropped 16.22% from $940,000 to $787,500 same period.

A further look at the six price categories we examine show strong increases in activity below $2M,  flat over $3–5M, and a decrease of 43.24% from 37 in 4th Quarter 2010 to 21 in 4th Quarter 2011 in the  $2–3.49M price range.  We can speculate on buyer demographics to explain this phenomenon but we will hold off until the Town & Country Year End Report is released next week.

The shining star in The Hamptons was Sag Harbor.  Sag Harbor area (which includes Noyack and North Haven) Number of Houses has sky rocketed 87% from 15 to 28 year to year in the 4th Quarter.  The Total Home Sales Volume shot up nearly 80% from $18.7M to $33.4M 4th Quarter 2010 to 2011, yet the Median Home Sales Price dropped 28%.  Again a further look at the six specific price categories monitored by Town & Country clearly depicts 25 of the 28 sales were under $2M and the only price category to decline was $2-3.49M price category which went from 5 home sales in 2010 to 1 in 2011 4th Quarter.

Sag Harbor Village had a sterling 4th Quarter 2011 with increases in all three criteria monitored – 60% increase in Number of Home Sales; 35% increase in Total Home Sales Volume, and 2% increase in Median Home Sales Price.

Neighboring Shelter Island enjoyed a 45.45% spike in Home Sales from 11 to 16 year to year.

The 3 crown jewels, East Hampton Village, Southampton Village and Bridgehampton (which includes Water Mill and Sagaponack) remain impressive by any standards.

Southampton Village Median Home Sales Price 4th Quarter 2011 came in at $2.3M.

Bridgehampton Market (which includes Water Mill and Sagaponack) posted a Median Home Sales Price of $2.8M.

East Hampton Village a staggering $3.575 Median Home Sales Price.

To view more specifics on your particular locations visit www.1TownandCountry.com/reports.

 

Judi A. Desiderio, CEO

jd@1TownandCountry.com •  631-324-8080

*Source: The Long Island Real Estate Report

**All information is deemed reliable and correct.  Information is subject to errors, omissions and  withdrawal without prior notice.

US Home Prices & New Home Sales BOTH rise!

Thursday, October 27th, 2011

WASHINGTON: The Standard & Poor's/Case-Shiller index showed home sale prices rose in August from July in 10 of the 20 cities tracked. This is an indication of stabilization in some of the hard hit portions of the country. July was the 5th straight monthly gains in half the cities monitored.

Additionally, the US Commerce Department released the New Home Sales Report for September which showed a strong increase of 5.7% to a seasonally adjusted annual rate of 313,000 homes.

The National Association of Home Builders reports that for each new home built, 3 jobs are created for a year and generates $90,000 in taxes….All good news for the National Home Markets and our financial recovery!

Now if the banks would get on board we'd see the recovery speed up.

IT’S TIME TO BUY THAT HOME

Tuesday, October 18th, 2011

Wall Street Journal's Jack Hough, titled his article on Saturday just that… "It's Time to Buy That House".
 

He discusses the National Association of Realtors, Housing Affordability Index, which Town and Country has written about several times this year, which was 183.7 in August. According to NAR a reading of 100 would indicate that the median income family with a 20% down payment can afford a mortgage on a median priced home.
 

Jack gives an example of a median priced home in greater Phoenix, purchasing it with 20%, at todays 4.12% interest rate, results in monthly payments less than half what the rental for the same home would be.

Of course, as we discussed many times in prior blogs, the banks are being piggy and not lending the money they should, even to qualified buyers. This must be rectified first, in order to move forward!
 

Personally, my sentiment has always been the same. I'd rather keep my money in "East End dirt", as I call it, rather than anywhere else on the planet!
 

As Kramer would say, "Buy, Buy, Buy".

A WEEKEND OF TOWN AND COUNTRY OPEN HOUSES ON THE NORTH FORK…

Saturday, August 21st, 2010

Aren’t Open Houses are a fun way to find the home of your dreams?

If you are looking for a home with a dock – this weekend is great: Town and Country Agents are making it possible to see quite a few -priced right- waterfont homes with private docks on the North Fork- for your convenience-no appointments needed!

Our T&C agents are professionals who know the RE market – that’s their business. So do not hesitate to pick their brains while you visit their open houses. Remember-they know the best homes on the market: ask them for their favorite listings! 

Click here for this weekend’s Open Houses

Short Sale Seminar

Tuesday, December 16th, 2008

 The "S" Word.

Short Sales. A phenomenon so rare on the East End, up until now, that you could identify each one. The Hampton and the North Fork may have been one of the last hold-outs, but in the past few months the amount of short sales on both the north and south fork have been mounting due to job loss, shrinking pay checks, poorly structured mortgage loans and more.

While we are somewhat insulated to the market swings that occur in other parts of the country, thee is a direct connection to Wall Street form our main Streets and therein lies some of the problem.

The Federal Government is taking unprecedented measures to stabilize housing and curtail the wave of foreclosures on the horizon because we have come to find much of our overall economy is intertwined in the American dream – homeownership.

Capitol Hill has identified a need to stabilize the housing market first in order to begin the recovery process. To that end, Town & Country has collaborated with local Real Estate Attorney Robin Lang, who specializes in short sales, Mortgage Broker Victoria Hohman from Manhattan Mortgage Company, and our own Elizabeth (Miss) Capozzoli, Licensed Real Estate Broker and Certified Short Sales Specialist to offer a series of free educational seminars specifically on Short Sales

Wednesday, January 14, 2009 from 7-8:30 pm at the Hampton Bays Library, 52 Ponquogue Ave

Panelist are:

LEGAL - Robin Long, Esq or Fier & Long PC Attorney, 631-585-4344

REAL ESTATE - Elizabeth Missy Capozzoli from Town & Country Real Estate, 631-288-3030

MORTGAGE- Victoria Hohman from Manhattan Mortgage Broker, 631-324-1555

 

Welcome to Town & Country Blog

Wednesday, June 25th, 2008

All of us here at Town & Country would like to extend a warm welcome to our visitors. We look forward to hearing your comments and thoughts and will reply accordingly and timely. best, Judi A. Desiderio, CEO