Douglas Elliman published the market report we prepared on the Hamptons sales market for 2Q 2013.
This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.
- Highest number of second quarter sales since 2006.
- Listing inventory continued to fall.
- Second highest median sales price in 5 years.
- Sales above $5M slipped, but overall gain in sales above $1M expanded.
- Despite jump in sales, would likely have been more without 2012 year end “fiscal cliff” rush.
Here’s an excerpt from the 2Q 2013 report:
…Like the prior quarter, there were fewer highend transactions, fallout from the year-end rush to close before the expiration of the “fiscal cliff” deadline for tax planning purposes. Although the number of sales at or above $5M fell by 13.2% to 33, the number of sales over $1M actually expanded by 4% to 44.7% over the same period reflecting a more active “trade-up” or upper middle market than last year. As a result of this skew, the overall average sales price fell by 1.6% to $1,696,879, yet the median sales price increased 8.2% to $920,000, the second highest median sales price in 5 years, second only to $937,500 reached in the second quarter two years ago…
The Elliman Report: 2Q 2013 Hamptons Sales [Miller Samuel]
The Elliman Report: 2Q 2013 Hamptons Sales [Douglas Elliman]
Market Chart Library [Miller Samuel]
Aggregated Custom Market Data Tables [Miller Samuel]