Hamptons Real Estate Blog reports a week-long, snapshot analysis of the state of things, revealing reasons to be both happy and sad. For the week ending in 9/11/09, the 'East End' (which includes the towns of Southold, Riverhead, Shelter Island, Southampton and East Hampton) saw 50 recorded sales, up 85% from 27 the same week last year. Brokers rejoice! On the other hand, the median price of the homes sold has fallen immensely. Last week's houses had a median price of $562,500, while 2008's came in at $969,000. On the lis pendens (pre-foreclosure) front, things don't get much better. Last week's fillings amount to 26, with median mortgage of 380,000, while the same week last year only saw 4 fillings. More stats and findings here.
· East End 2009 reported sales nearly doubled 2008... [HREB]