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Town & Country Releases Q1 Report, Outlook: Not So Bleak

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Hot off the presses! Town & Country's Home Sales Report for the first quarter of 2012 just hit our inbox and the news is actually encouraging. While these releases have been an exercise in spinning anemic numbers for the last few years (and there is a little of that going on here) , one could use view this most recent one as a sign that the market is beginning to turn. At the very least, it may have finally hit bottom. A few highlights:

· Sag Harbor Village saw a year over year increase in the # of home sales, the median home sale price and the total sales volume.

· Southampton Village saw a 67% increase in # of home sales and a 128% increase total sales volume.

· Shelter Island didn't do so hot...they experienced an overall decrease this quarter.*

· Taken as a whole (pictured above), The Hamptons saw positive growth in every category monitored by T&C.

While it's still too early to tell if this trend will continue, homeowners and agents alike should be pleased with the direction the numbers seem to be headed. 1st Quarter 2012 Home Sales Report [Town & Country, warning: PDF]

* Wisely hedging their bets, Town and Country attribute this to the small sample group: "...when there is such little data (6 sales in an entire quarter) statistics get skewed easily."