Median Sales
The East End
– North Fork and South Fork for the year 2016, reported a drop in the median
price of 8.5% to $670,000 from $732,500.
Median prices dropped in two towns, Southampton dropped 13.2%, East
Hampton dropped 4.5%; while Southold
increased 4.7% and Riverhead increased 5.4%.
2016 showed a softness in sales
at the higher end.
Dollar Sales
Dollar sales
for the East End fell 6.9% for the year primarily due to decreased sales in Southampton and East Hampton
of down 13.6% and 4.3% respectively. For
the North Fork sales went up: Southold
increased 13.8% and Riverhead increased significantly to 34.9%. Good results with strength on the lower to
mid-priced homes.
Unit Sales
Overall the entire
East End unit sales increased slightly by 16 units sold or .5%. In Southampton and East Hampton , unit sales fell
6.6% and 7.8% respectively. On the North
Fork, Southold unit sales increased 9.2% and Riverhead ad a whopping 30.6%
increase!
Overall the
North Fork did well in 2016, with Riverhead having strong double-digit
increases in dollar sales and unit sales.
On the other hand, the South Fork had weak results across the board.
Business has
been brisk on the North Fork for January – weather has helped a great
deal. If you’re thinking of selling,
call us – it’s time!!!!
Looking to Buy or Sell your Home? Call us at 631-765-5333, or visit us on our website: beninatiassociates.net. We listen, we care…….and we get results.
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