Analyzing the Data

As soon as the Market statistics and my report on those figures gets sent out of my email account --- the phone rings - first person on the line this time was Sharon L. Crenson - here's the article she wrote about the current market trend based on the year end figures

Bloomberg.com: News

The nice thing about the nubmers is they don't lie and they don't have an ego - they just are. I've included here my own analysis based on the figures which appear in the full Market Report - you can also few the numbers and my article on our website at

www.1TownandCountry.com

HAMPTONS REAL ESTATE YEARLY REPORT 2006

The beacon in a year of some dark figures for 2006 was Bridgehampton (which includes Water Mill and Sagaponack) where 42% of all home sales over $5M in 2006 occurred…41 to be exact. That’s a whopping 128% increase over the total of 18 seen in all of 2005.

The Number of Home Sales in Bridgehampton (which includes Water Mill and Sagaponack) remained virtually unchanged at 203 in 2006, a 1% increase from 201 in 2005. Additionally, Median Home Sales Price rose the greatest in Bridgehampton by 25% from $1.8M in 2005 to $2.25M in 2006.

Median Home Sales Price rose in 9 of the 11 markets monitored by Town & Country. The greatest rise in Median Home Sales Price was a blinding 65.56% in Sag Harbor Village from $755,000 in 2005 to $1.25M in 2006.

The reverse is true though of Total Sales Volume, 9 of the 11 markets saw a decrease with the greatest difference in East Hampton Village at -37.86% to $201M in 2006 from $324M in 2005.

All Hamptons Markets Combined demonstrates the South Fork sales market during 2006. While sales activity, as measured by Number of Home Sales declined by 21.5% from a total of 2,326 in 2005 to 1,826 in 2006, the Median Home Sales Price rose 7.5% from $800,000 in 2005 to $860,000 in 2006.

The top two price ranges monitored by Town & Country, $3.5 - $4.99M and $5M and up, both experienced significant gains of 21% and 14% respectively. This is a vital statistic since the overall Number of Home Sales actually declined by 21.5%, pinpointing the increased activity on the high end.

The price range with the greatest drop of 43% was under $500,000. Let me say though, this is not a reflection of lack of demand, but rather a lack of inventory. In fact in East Hampton Village and Amagansett, there were -0- sales under $500,000. If there were homes available in that price category in those locations there would be bidding wars for them regardless of market conditions.

2006 closed with a very strong December in all markets and all price categories. Hopefully a sign of what 2007 has in store for us.


Judi A. Desiderio
Owner Broker

*source: LI Profiles*All information is deemed reliable and correct. Information is subject to errors, omissions and withdrawal without prior notice

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I just finished the end of the year report - you'll be seeing parts of it in my article in the next edition of Homes of the Hamptons and Homes of Eastern Long Island but here's a bit of it for you to ponder till I have the entire article posted here on the blog.

HAMPTONS 2006
YEARLY REPORT
By Judi Desiderio


The beacon in a year of some dark figures for 2006 was Bridgehampton (which includes Water Mill and Sagaponack) where 42% of all home sales over $5M in 2006 occurred…41 to be exact. That’s a whopping 128% increase over the total of 18 seen in all of 2005.

The Number of Home Sales in Bridgehampton (which includes Water Mill and Sagaponack) remained virtually unchanged at 203 in 2006, a 1% increase from 201 in 2005. Additionally, Median Home Sales Price rose the greatest in Bridgehampton by 25% from $1.8M in 2005 to $2.25M in 2006.

The above has nothing to do with our soon to be open Bridghampton office - Bridgehampton was always in the game plan - it's an area that's proformed consistantly as long as I've been involved with an office there - back to when I opened Cook Pony Farm's office there. We're working away on the space and will be in there as soon as we can. Another convenient Main Street location for Town & Country Real Estate. Stop by and see us in person or just keep checking us out here on the world wide web!

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Welcome to my world of Real Estate on the East End of Long Island - affectionately known as The Hamptons and The North Fork

The Hamptons is home to some of the most unspoiled, beautiful beaches in the world. While they are here for all to enjoy the real estate that overlooks these pristine miles of shoreline is only a small part of the real estate market here on the East End. For the past 25 years it's been my pleasure to work as an agent, Broker and eventually Principal of one of the 3 top Real Estate firms in the Hamptons and North Fork. We were so successful we sold out to a VERY large firm from Manhattan. I soon discovered I can’t work for corporate America so in January of 2006 I opened my own firm, Town & Country Real Estate.
It’s been very exciting. If you think the reality TV shows out there are outrageous you should spend a week in the life of a brand new, ever expanding Real Estate company - it's never ending challenges, but very exhilarating.
I'm excited about what we've accomplished so far and more excited about the future. I'll try to share what I can with you here on this blog - as well as offer up to date info on the current market trends, interesting sales etc.
I'll try to share what I can with you here on this blog - as well as offer up to date info on the current market trends, etc. The Hamptons is one of the most talked about areas in the World and Real Estate is the buzz everyone is interested in. Stay tuned here to find out what's going on ... from the inside.