Archive for the 'Westhampton' Category

Southampton Town Gives the Okay to Bailey Motel Land Purchase

Wednesday, May 16th, 2012

29 acres of mostly woodland in Westhampton has been acquired by the Town of Southampton. In addition to expanding the Westhampton Cemetery, the town and county plans to preserve the land. This could mean hiking and biking after a day at the beach!

ZOMBIE SIGHTING IN WESTHAMPTON BEACH….

Monday, April 30th, 2012

Westhampton Beach is the setting for an upcoming episode of Royal Pains. Shooting begins today along Main Streets as actor Mark Feuerstein was seen in front of the Westhampton Beach Playhouse assisting a choking Zombie as cast and crew looked on. Already excitement in the Hampton’s……and the season has yet to begin!!

AND THE WINNER IS…..

Monday, April 30th, 2012

Westhampton Dunes may be the winner of an ASPBA contest for “Best Restored Beaches Across America”. This would be a second win for Westhampton Dunes, confirming what we already know…. The most pristine beaches in the world run along the eastern coast of Long Island. Through the tireless efforts of the village of Westhampton Beach, the shoreline has been replenished and restored. Located 75 miles from Manhattan, a ninety -minute drive can take you from the lights of Broadway to the beauty of the oceanfront.

HAMPTONS 1ST QUARTER 2012 HOME SALES REPORT

Thursday, April 19th, 2012

TOWN & COUNTRY'S 1st Quarter Hamptons Home Sales Report demonstrates a significant change in our markets. We have been reporting on the unusually active winter season and now the numbers prove indisputably the Hamptons markets are breaking national trends.

Markets such as Sag Harbor Village statistically posted eye-popping increases in all 3 criteria monitored by TOWN & COUNTRY with a 29% increase in the Number of Home Sales, 68.4% increase in the Median Home Sales Price and an impressive 95% increase in Total Home Sales Volume. Sag Harbor is no longer the East End's best kept secret!

Shelter Island experienced reversal shifts with reductions in all 3 criteria…but when there is such little data (6 sales in an entire quarter) statistics get skewed easily.

Southampton Village realized a 67% increase in Number of Home Sales (from 9 to 15) and a 128% gain in Total Home Sales Volume from $21.5M to $49M year to year, yet the Median Home Sales Price shifted downward to $800,000 from $1.845M or a decline of 56.64%, but again few sales (9 in 2011 vs. 15 in 2012) cam make the Median Home Sales Price shift easily. Examining the 6 price categories in Southampton Village and you see the number of sales below $1M market was the driver with 9 of the 15 sales this year and yet in 2011 the number of sales under $1M was only 3 of the 9 sales.

Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue) realized the greatest increase in the Number of Home Sales with a 109% increase, which pushed the Total Home Sales Volume upward by 118%.

Looking at All Hamptons Markets Combined for 1st Quarter 2012 and you see all positive signs, further validating TOWN & COUNTRY'S conclusion that the Hamptons markets are setting new benchmarks.

The water's perfect, time to jump in!

To view more specifics on your particular locations visit http://www.1townandcountry.com/html/marketReports.php

Judi A. Desiderio, CEO
jd@1TownandCountry.com

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

Hampton Year End 2011 Home Sales Report

Monday, January 23rd, 2012

 

Town & Country’s  Year End Home Sales Report holds no surprises.

Looking at the 11 individual markets monitored by Town & Country, we see 4 of the 11 specific markets rose in the number of home sales  by as much as 12% as seen on Shelter Island. One market, Sag Harbor area (which includes Noyack and North Haven) was flat, but 7 of the 11 markets saw declines.  Southampton Village sales activity dropped to 76 in 2011 from 97 in 2010 or 21.7% .  Yet Southampton Village saw a 40% increase in the Median Homes Sales Price from $1,675,000 in 2010 to $2,337,500 in 2011, and the Total Home Sales Volume rose just over 10%.

Bridgehampton (which includes Water Mill and Sagaponack) had the best year of all 11 South Fork markets with increases in all 3 criteria Town & Country reports on 6 times a  year.  The Total Home Sales Volume in Bridgehampton (which includes Water Mill and Sagaponack) increased 26% from $555M to $700M. The Median Home Sales Price rose 13% from $2.295 to $2.6 year to year and the number of home sales rose nearly 6% from 163 to 172.

Reviewing the cumulative All Hamptons Markets Combined and one glaring statistic jumps out at you – 2011 was a good year for the high end.  The highest two priced categories monitored by Town & Country -$3.5 to $4.99M was +16% and $5M and up logged in at 3.7% increase.  Thus in 2011 150 homes priced at $3.5M+ traded as opposed to 138 in 2010.

The Total Home Sales Volume and Median Home Sales Price was flat for the year and the number of home sales realized a slight decrease of 6.4%. 

The foundation has been laid for healthier markets to come.

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.

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.

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".

Elvis Costello SOLD OUT the Westhampton Beach Performing Arts Center

Thursday, July 28th, 2011

Elvis Costello and the Imposters played to a sold out audience at the Westhampton Beach Performing Arts Center. On stage was a huge game show wheel ,“The Spectacular Spinning Songbook”, which selected audience members put into motion featuring song titles like the first spun classic “Accidents Will Happen”.

A highlight for the evening was the song “Town Cryer”, which is virtually never played live. It was absolutely fantastic!

“Radio Radio” was awesome. The beads were flying as a Go-Go Girl was relentlessly tearing up the Go-Go Cage.

The theatre of 425 seats was an intimate setting for the Grammy winning Elvis Costello and the Imposters. “A Slow Drag with Josephine” was beautifully done. Costello briefly sang acapella, which truly felt like Elvis was in your living room.

Fedoras off to the Westhampton Beach Performing Arts Center for bringing such musical Icons to the hamlet. 

 

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

HAMPTONS 1ST Quarter 2010 Homes Sales Report

Tuesday, April 20th, 2010

There’s nothing more impressive than a powerful recovery!

Town & Country was the first to identify the bottom in the middle of last year, and promised a report in 2010 that would prove activity levels were returning.

It seems some of the markets hit hardest by the recession came back with a bang!

SHELTER ISLAND posted a whooping 1300% increase in Number of Home Sales from 1 to 14 and therefore an OUT OF THIS WORLD increase of 1442% in Total Home Sales Volume from $1.24M to $19M – which is twice the $9.5M posted for 1st quarter 2008! Oddly though the Median Home Sales Price dropped 15.4% from $1,240,000 to $1,049,500 – a trend we see in 4 markets thereby clearly conforming to the public’s demand for lower priced homes.

All 11 markets monitored by Town & Country saw BLACK or increases, in the Number of Home Sales. 10 of the 11 markets saw increases in the Total Home Sales Volume with the only exception being SAG HARBOR AREA (which includes Noyac and North Haven) with a 16% dip. And 6 of the same 11 markets experienced gains in Median Home Sales Price in this year to year 1st quarter report.

EAST HAMPTON VILLAGE Median Home Sales Price rose 137% from $1,242,500 to $2,950,000. While quite impressive, it still trails the $3.45M posted 1st quarter 2008, pre-recession.

SOUTHAMPTON VILLAGE Median Home Sales Price also experienced a grand increase of 103% from $825,000 to $1,675,000, 2009 to 2010 respectively. Still a far cry from 1st quarter 2008 when SOUTHAMPTON VILLAGE Median Home Sales Price was $2,775,000.

Studying All Hamptons Markets Combined we see just how impressive this recovery is. The Number of Home Sales rose 175% from 106 in 2009 to 292 in 2010 – which trumped the 287 posted back in 2008 before the crash! Further, the Total Home Sales Volume sky rocketed 251% from $153.6M in 2009 to $539M in 2010 and the Median Home Sales Price rose 51% from $730,000 in 2009 to $1.1M in 2010 – again trumping the $975,000 Median Home Sales Price 1st quarter 2008.

Clear across the board All Hamptons Markets Combined in every category and every price range displayed pure and powerful black.

If the time were ever more right to buy,,, I haven’t seen it!

To view more specifics on your particular locations and price ranges, visit out website 1TownandCountry.com and click “Reports”.