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Hamptons/North Fork

[Back to Normal?] 1Q 2010 Hamptons/North Fork Market Overview Available For Download

April 22, 2010 | 8:05 am | | Reports |


[click to view report]

The 1Q 2010 Hamptons/North Fork Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

Additional insight can be gained from charts we create to supplement the report and press coverage.

An excerpt

…There were 486 sales in the first quarter, 141.8% more than the 201 sales of the prior year quarter, but 13.8% below the 564 sales in the prior quarter, which was a two-year high. The last three quarters of sales activity has been consistent with the quarterly average of the past 5 years. Gains in the financial markets, Higher Wall Street compensation, low mortgage rates and improved affordability have stimulated demand. Despite economic turmoil of the past two years, the East End housing market, which is driven by its second home market, has continued to keep pace with the New York City housing market. Although there were sharp gains in the number of sales, up from levels not seen in at least six years, listing inventory rose. There were 2,318 listings, up 1.3% from 2,289 listings in the same period last year and up 7.4% from 2,159 listings in the prior quarter. Re-sale shadow inventory, which consists of listings that were removed from the market in the prior year due to unfavorable market conditions, is being added to the current market…

Download report 1Q 2010 Hamptons/North Fork Market Overview [Miller Samuel]
View Hamptons/North Fork charts [Miller Samuel]



[The Housing Helix Podcast] Manhattan Townhouse/Ten Year, Hamptons North Fork/Long Island 4Q 2009 Reports

February 21, 2010 | 8:00 pm | Podcasts |

I’m playing catch-up with my podcasts over at the The Housing Helix and here’s a collection brief summaries on the latest reports we released.



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To get a copy of the reports go here.

The Housing Helix Podcast Interview List

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.



[SOTU] In The Hamptons

January 28, 2010 | 3:33 pm | |

Since attaching my head to other people’s photos appears to be in vogue, here’s the latest. Gotta love Curbed Hamptons.

They are referencing our two market report releases covering the Hamptons & North Fork 4Q 2009 and 2000-2009.



[Summer In Winter] 4Q 2009 Hamptons/North Fork Market Overview Available For Download

January 28, 2010 | 11:21 am | | Reports |


[click to view report]

The 4Q 2009 Hamptons/North Fork Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

Charts will be available later today.

An excerpt

…The median sales price of an East End residential property was $701,161 in the fourth quarter, 1.6% higher than $690,000 in the same period last year and 0.2% above $700,000 in the prior quarter. This is the first year-over-year increase in median sales price since the first quarter of 2008. Average sales price was $1,313,264 in the fourth quarter, down 11% from $1,474,771 in the same period last year and down 2% from $1,339,510 in the prior quarter. The disparity between the median sales price, which removes outliers, and average sales price was attributable to general decline in prices at the high end of the market after rising faster than the overall market in prior years…

Download 4Q 2009 Hamptons/North Fork Market Overview



[Better East End] 2000-2009 Hamptons/North Fork Report Available For Download

January 28, 2010 | 11:10 am | | Reports |

[click to open report]

The 2000-2009 Hamptons/North Fork Ten Year Market Report that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

Its an analysis of the past decade on the East End of Long Island and is considered a supplement to our quarterly report series.

Download 2000-2009 Hamptons/North Fork Ten Year Market Report



[The Housing Helix Podcast] Brooklyn, Queens, Long Island & Hamptons/North Fork

October 26, 2009 | 11:00 pm | Podcasts |


Last week we released market reports for both Long Island and Hamptons/North Fork. The week before we released reports for Brooklyn and Queens. I meant to release short podcast recaps on all four reports (combined into pairs) when they were released but alas, was behind schedule.

But here they are.

Brooklyn & Queens Market Overview podcast

[click for podcast]



Long Island and Hamptons/North Fork podcast

[click for podcast]




The Housing Helix Podcast Archive

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.



[Sandstorm] 3Q 2009 Hamptons/North Fork Market Overview Available For Download

October 22, 2009 | 1:01 am | | Reports |

The 3Q 2009 Hamptons/North Fork Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

Charts that contain the 3Q 2009 data are now available.

An excerpt

…Listing inventory expanded 21.5% to 2,419 units from 1,991 units in the prior year quarter and 5.8% higher than the 2,286 units in the prior quarter. The jump in the number of sales over the summer prompted many sellers to return their listings to the market. There were 459 sales in the third quarter, 49.5% more than the 307 sales of the prior quarter and 29.3% more than the 355 sales in the prior year quarter. The number of sales was the highest quarterly total since the second quarter of 2008, when there were 541 sales, but was 56.4% below the record high water mark of 1,052 sales in the second quarter of 2004. Monthly absorption, the number of months it would take to sell existing inventory at the current pace of sales, peaked in the first quarter of 2009 at 34.2 months. The absorption rate fell in the second quarter to 22.3 months and fell in the third quarter to 15.8 months or roughly half the rate of peak, indicating that the pace of sales activity has been faster than new inventory being added to the market…

Download 3Q 2009 Hamptons/North Fork Market Overview


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[Over Coffee] Quote: Understated Elegance

September 1, 2009 | 4:58 pm |

I wrote about the Madoff Montauk, Long Island home in my previous post, but something else was said that is worthy of a new post.

The phrase understated elegance is common real estate brokerspeak used by some real estate agents…not US Marshals.

“Every room is situated so that you have a left to right, 180 degree angle of the Atlantic Ocean,” said Roland Ubaldo, supervisory deputy US Marshal, who conducted a video tour of the property for the press last week. “It’s a panoramic view. You’re talking about guest bedrooms, master bedrooms, foyer, you name it, [all of them] have a view of the Atlantic Ocean; it really is breathtaking.”

And for the closing pitch…

“There’s an understated elegance, I believe, in this whole residence,” said Marshal Ubaldo. “It’s simple, stylish, but it is understated.”

Could you ever imagine a US Marshal uttering those words while showing a house (carrying a weapon, I assume)? My temples pulsate every time I think of it.

But it is clear that they mean business – and intend to sell for market value so the defrauded investors get back as much as they can (admittedly nominal).



[Weekend At Bernie’s] Madoff House In Montauk Ready For Market

September 1, 2009 | 2:47 pm | | Public |

I had a nice conversation with Deirde Bolton at Bloomberg TV about the Hamptons Housing market and the former Madoff residence in Montauk (had to get up 4:30am to make it in for the 6:45am).

US Marshalls are readying it for market. I heard today that Corcoran was selected as the selling agent for the property.

I also got to catch up with Tom Keene of Bloomberg Surveillance in the Green Room who proceeded to tweet my appearance with a little humor.

Les Christie of CNN/Money does a nice Madoff story on the US Marshall video of the property and invited me to provide some running commentary as I watched it. Fun!

Here’s the US Marshall video. It’s apparent that they want to get as much for the property as they can – no fire sale – so they can get funds to the swindled investors (a drop in the bucket).

All this activity before 10am this morning. I might need to go to the beach and relax this weekend…I know a house…


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[Three Cents Worth #125] Manhattan vs. Hamptons!

July 23, 2009 | 4:27 pm | | Columns |

Sure happy it’s Thursday to share my Three Cents Worth on Curbed, at the intersection of neighborhood and real estate.

Today I ventured eastward (in my mind that is) until I hit the beach for a 3CW column on Curbed Hamptons.

Click here to view this week’s post.

Check out previous Three Cents Worth posts.


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[Beached] 2Q 2009 Hamptons/North Fork Market Overview Available For Download

July 23, 2009 | 12:05 am | | Reports |

The 2Q 2009 Hamptons/North Fork Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

The 2Q 2009 [data](https://www.millersamuel.com/data) and a series of updated [charts](https://www.millersamuel.com/charts/index.php?Node=1225671404FFPKy) are available.

Press coverage can be found here.

An excerpt

…There were 307 sales in the current quarter, 43.3% below the 541 sales in the prior year quarter but, 52.7% higher than the 201 sales in the prior quarter. The gain in the number of sales from the prior quarter was higher than seasonal norms, reflecting a release in pent-up demand from more limited sales activity at the end of 2008. Over the same period, the number of properties listed for sale continued to rise. Listing inventory totalled 2,286 properties, 23.6% higher than the 1,849 properties listed during the second quarter of 2008. The expansion of inventory was to be expected due to the decline in the number of sales. As a result of the rise in listing inventory and the decline in the number of sales, the monthly absorption rate—the number of months to sell all existing inventory at the current pace of sales—was 22.3 months, more than double the 10.3 month absorption rate average of the prior year quarter…

Download 2Q 2009 Hamptons/North Fork Market Overview

UPDATE: Listen to the podcast

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[The Housing Helix Podcast] Hamptons/North Fork + Long Island Market Overviews 2Q 2009

July 23, 2009 | 12:04 am | | Podcasts |


Today we released the last two market reports of the quarterly gauntlet of reports covering the New York City region (no more until October!) – I provide a brief overview for each report in this podcast.

To download these reports and other reports, view charts and build custom data tables.




Prudential Douglas Elliman Hamptons/North Fork Market Overview 2Q 2009

Prudential Douglas Elliman Long Island Market Overview 2Q 2009

Check out the podcast.

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.


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