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Elliman Report: North Fork Sales 1Q 2016

North Fork price trend indicators rose as sales stabilized. Median sales price continued to rise sharply from prior year levels pulling in additional supply. Listing inventory edged 2.6% higher to 507 from the prior year quarter. There were 134 sales in the quarter, unchanged from the same period last year. As a result of stable sales and more inventory, the pace of the market slowed nominally. The absorption period, the number of months to sell all inventory at the current rate of sales, edged up to 11.4 months from 11.1 months in the prior year quarter…

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