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 ]