Hamptons takes another hit

April 27, 2009 11:00AM

The already-declining real estate market on the East End of Long Island took another major hit in the first quarter of 2009 as both sales volume and median prices dropped sharply. On this week's Webcast, The Real Deal's Jen Benepe talks to market analyst Jonathan Miller, president of appraisal firm Miller Samuel, about the Hamptons report he released with Prudential Douglas Elliman last week. While Miller said he doesn't think it's time to "stick a fork" in the South Fork, he did say that in the five years that he's been tracking data on the East End "it's the largest decline in prices." To watch the full Webcast click on the video below and to read the full market report click here.



Tags: south fork

Comments

Anonymous

As one local broker said to another, we have priced ourselves out of our own homes and towns. boo hoo you all are to blame for screwing this up. houses that were selling 12 years ago for 120,000 are on the market for 1,000,000 or more. screw everyone who endlessly refinanced and are now underwater. screw all the flippers and spec builders who are now stuck with massively overvalued homes.

Comment #1 Posted By: Anonymous 04/28/09

Anonymous

Agreed #1 BUT when do the rest of us catch a break already?

Comment #2 Posted By: Anonymous 04/29/09

Anonymous

#2, when all these assholes declare bankruptcy after holding out waiting for the flood of new money that this season will not bring. In case anyone has not noticed there are 7 empty stores on main street in east hampton.

Comment #3 Posted By: Anonymous 04/29/09

Anonymous

it will be a sad summer for shoppers. there will be more than 7 stores that are shudderred by the end of summer!

Comment #4 Posted By: Anonymous 04/29/09

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