…In the second quarter of 2013, the North Fork
housing market was characterized by rising
sales and prices along with falling inventory.
Many buyers have entered the market due to
the combination of the following factors: tight
credit, low inventory, the release of pent-up
demand after the last year’s market uncertainty
caused by the fiscal cliff, and anticipated rise of
mortgage rates, due to the improved economy.
Both price indicators were higher than the prior
year levels. Median sales price was $459,750,
up 10.8% and the average sales price rose 4%
to $679,720…