TOWN & COUNTRY REAL ESTATE’S 4th Q Homes Sales Report for 2009 is a clear demonstration of the new emerging markets. As we indicated in our 3rd Q Home Sales Report, sales activity has been steadily increasing since this past summer.
Viewing the 4 North Fork Markets, monitored by TOWN & COUNTRY, we see significant increases in the Number of Home Sales from an astounding 80% jump in JAMESPORT (which includes Aquebogue, Baiting Hollow and South Jamesport) to a 22% increase in MATTITUCK (which includes Laurel and Cutchogue). All four markets performed well in the Number of Home Sales category.
JAMESPORT (which includes Aquebogue, Baiting Hollow and South Jamesport) is the clear leader, heading the North Fork into its next healthy Market with gains in all 3 criteria researched by TOWN & COUNTRY. In addition to the Number of Home Sales jump of 80%, the Total Home Sales Volume shot up 68% and the Median Home Sales Price rose 3.5%.
Orient (which includes East Marion and Greenport) seems to have experienced the slowest recovery. While the Number of Home Sales increased from 14 to 18, the Total Homes Sales Volume declined 34%, and the Median Home Sales Price dropped 42% year over year same quarter.
One trend, which leaps off the page, is noted in the 6 different price categories for each of the 4 Markets monitored by TOWN & COUNTRY. The activity is heavily weighted in the low end, in fact the $1M and up is completely in the red.
The good news is we are “off the bottom”; the not so good news is that we need to work our way “out of the woods”. The beautiful North Fork will grow moving forward as we have seen O&A’s (offers and acceptance) and deals made in both our North Fork offices from the first day of 2010. There are very few who are sad to see 2009 leave us. Here’s to a happy, healthy and prosperous 2010 to all.
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