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Elliman Report: North Fork Sales 1Q 2017

The North Fork housing market showed shift to high-end sales but with a decline in overall sales. There were 121 sales, down 9.7% with a 26.8% drop in listing inventory to 371 respectively from the year-ago quarter. As a result of rising sales and falling supply, the pace of the market accelerated. The absorption period, the number of months to sell all inventory at the current rate of sales, declined to 9.2 months from 11.4 months in the year-ago quarter…

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