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Elliman Report: North Fork Sales 1Q 2015

Housing prices for the North Fork were mixed as the pace of the market moved faster. The absorption period, the number of months to sell all inventory at the current pace of sales, fell 32.3% to 11.1 months. The sharp drop to the fastest first quarter market pace in 8 years was the result of the combination of rising sales and falling inventory. There were 134 sales, up 22.9% from the prior year quarter, the highest first quarter total in 8 years. Inventory fell 17.3% to 494 over the same period…

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