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Elliman Report: Hamptons & North Fork Sales 3Q 2011

…Housing prices in the third quarter were up sharply from the same period last year, but experienced a seasonal decline from the spring market activity of the second quarter. There were 30 sales above the five million dollar threshold, nearly three times the 11 sale total in the prior year quarter. Median sales price increased 12% to $700,000 in the third quarter from $625,000 in the prior year quarter, but declined 8.6% from $766,250 in the prior quarter. Average sales price followed the same pattern, rising 14% to $1,452,678 in the third quarter from $1,273,775 in the prior year quarter, but falling 4% from $1,513,636 in the prior quarter. The fourth and fifth market quintiles posted year-over-year gains in median sales price, while the lower three segments showed declines…

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