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Elliman Report: North Fork Sales 2Q 2013

…In the second quarter of 2013, the North Fork housing market was characterized by rising sales and prices along with falling inventory. Many buyers have entered the market due to the combination of the following factors: tight credit, low inventory, the release of pent-up demand after the last year’s market uncertainty caused by the fiscal cliff, and anticipated rise of mortgage rates, due to the improved economy. Both price indicators were higher than the prior year levels. Median sales price was $459,750, up 10.8% and the average sales price rose 4% to $679,720…

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