Source: Prudential Douglas Elliman

East End residential sales activity and prices grew by double digits in the third quarter of 2011, according to a report released today by Prudential Douglas Elliman, although the increase, as is often the case, was skewed by booming luxury sales and a slow market in the same period last year.

Compared to the third quarter of 2010, home sales in the Hamptons and North Fork jumped 14.7 percent, to 538 from 469, and the median price rose 12 percent, to $700,000 from $625,000, the report says. Following seasonal patterns, sales activity in the third quarter dropped 13.1 percent and the median sale price decreased 8.6 percent over the previous quarter.
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Hamptons high-end home sales saw positive growth in the third quarter of 2011, according to a report by Hamptons brokerage Town & Country, with the upper categories monitored by the company for all Hampton markets combined realizing sizable gains of as much as 60 percent.

Sales in the Southampton area more than doubled from the third quarter of 2010 — to $41 million from $11.9 million — but Amagansett experienced the greatest year over year change in volume of home sales, from six in the third quarter of 2010 to 11 in the third quarter of 2011. Sales prices were also up in nine of the 14 areas surveyed. In East Hampton, the median home sales price was up 39.92 percent; in Montauk, it was up 27.34 percent and in East Hampton Village, the median price was up by a massive 155.26 percent — to $4.85 million in the third quarter from $1.9 million a year previous. — Katherine Clarke [more]

Southampton village home sales prices have outperformed prices in all other Hamptons markets, hitting a median price of $2.995 million, according to a second-quarter, market-wide home sales report by Hamptons brokerage Town & Country released today (see report below).

For Southampton, that’s a 41 percent jump from $2.125 million in the second quarter of 2010. Of the total sales, there were six of $5 million or more compared to three such sales in second-quarter 2010. There was also a 135 percent gain in total sales volume for the town, to $144.4 million in 2011 from $61.5 million in the second quarter of 2010.

The other 10 markets monitored by Town & Country display different degrees of growth or stability. Amagansett posted a 24 percent gain in home sales and a nearly 13 percent increase in median price, to $1.875 million in the second quarter of 2011 from $1.66 million in the same period in 2010.

Westhampton experienced an 8 percent drop in home sales, to 54 from 59 home sales, but saw an increase in median price to $952,000 from $900,000.

Hamptons Bays is the only Hamptons market still struggling, according to the report. The number of home sales dropped to 34, from 36 in the second quarter of 2010. The median home sales price also dropped to $376,000 from $405,000. — Katherine Clarke
1310758066HamptonsQ2 2011 SalesReport-Site [more]