The much anticipated 1st Quarter TOWN & COUNTRY Home Sales Report is hereby released.
WASHINGTON, D.C. – April 23, 2013 – (RealEstateRama) — While there are some shining stars, the report has quite a bit of red ink. Keep in mind the 1st Quarter of closed sales reflects the business — or deals — of the prior quarter due to the time lapse between making a deal and sitting down to the closing, then having the closing documents recorded. That said, this report reflects the sales activity from the 4th quarter of 2012 — Hurricane Sandy hit our entire region disastrously and obviously interrupted lives and businesses, including real estate on the East End.
Mattituck (which includes Laurel and Cutchogue) saw a spike in the Median Home Sales Price in the 1st Quarter 2013 from $415K to $555K or 34%. Examining the 6 price categories monitored by TOWN & COUNTRY and you immediately see 150% leap in the $500K – $999K— 10 home sales recorded in the first 3 months of 2013 vs. 4 for the same time period in 2012.
Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) experienced the most significant pull back with 53% fewer home sales (from 15 to 7) which resulted in a 58% less Total Home Sales Volume from 6.3M to $2.6M Quarter to Quarter and 17% drop in Median Home Sales Price from $386K to $320K.
Looking at All North Fork Markets Combined and while the Number of Home Sales declined due to Mother Nature, the Median Home Sales Price rose considerably from $391,750 to $473,000 year to year.
The good news is the next quarterly report will look completely different. All 8 TOWN & COUNTRY offices and associates are busier than ever in 6 years — those appointments will result in sales which will be closed and recorded over the next 2 quarters.
To view all reports visit 1TownandCountry.com/reports.
Judi A. Desiderio, CEO