The first quarter reports from Hamptons real estate brokers are in, and it's about what you'd expect. Compared to Q1 2012, volume was up, driven by low interest rates, but prices were down. We knew that higher-end property ($5M and up) sales surged at the end of last year, driven by an expected January jump in capital gains tax. In the fourth quarter of 2012, 49 properties sold in that price range, the highest number in six years. It only makes sense, then, that the corresponding numbers for the first quarter of 2013 were lower: only 8 properties sold in that price range, the lowest number since Q1 2009, right after the financial crisis of 2008. The future looks bright, as Wall Street bonuses were higher last year than in 2011, and interest rates remain low.
Now: what do you think about the numbers? Comments, please. [Curbedwire]
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