The Corcoran Group’s second-quarter real estate market report was recently published and shows numbers are up slightly this year over the same time last year.
Several pricey deals in Southampton Village and on North Haven increased the quarterly sales figures over last year’s. For example, in Southampton Village the dollar amount was more than double the number from 2010’s second quarter — $127.8 million versus $54.2 million — although there were only two more house sales this quarter as compared to the same quarter last year.
According to Corcoran’s report, “There is a fair amount of traction in the markets at the very high end and then in the lower end, with the middle price points less robust. Demand is still there but buyers are not rushing into sales by any means. As a result the market is mostly dependent on sellers who are willing to price their properties based on recent comparable sales.”
Commercial properties have seen “a return of activity,” although vacant land — even though they aren’t making it anymore — seems to hold less interest for buyers.
Taking the South Fork as a whole, Corcoran reports a 20-percent increase in the volume of house sales over last year’s second quarter, from $707.8 million to $850.8 million. Southampton Village had the highest increase, 136 percent. Wainscott had the lowest: 2010’s second quarter showed sales of $34 million, with this year’s number at $9.89 million, a decrease of 71 percent.
Of other hamlets and villages, Montauk had a 6-percent increase but two fewer sales, Sag Harbor and North Haven together had a 60-percent increase in sales volume — 38 compared to last year’s 30, and Bridgehampton was up 29 percent, with only two more sales but a $41 million jump.
East Hampton Village and Amagansett, as well as East Hampton Town over all, saw dips in sales of less than 10 percent.