SIMMERING SALES IN SOUTHAMPTON VILLAGE, NEW YORK!...An Update On Sales Here:
Yesterday, I checked the transfer of properties here in the Southampton market--Southampton Village to be specific. There in black and white was the evidence I was looking for:
JUNE SALES 2012 VS 2011
Week of 7/6/12 2 Houses sold
Week of 6/29/12 8 houses sold
Week of 6/22/12 4 houses sold
Week of 6/15/12 3 houses sold
Week of 6/8/12 5 houses sold
Week of 6/1/12 4 houses sold
2012 JUNE TOTAL 26 houses sold
This shows me that the pace of sales has picked up nicely compared to a year ago:
2011 TOTAL 19 houses sold (month of June, 2011--same number of days)
2010 TOTAL 13 houses sold (month of June, 2010--same number of days)
2009 TOTAL 11 houses sold " " 2009 " " "
2008 TOTAL 11 houses sold " " 2008 " " "
The slowest pace of sales in Southampton Village for 2008 through 2010 reflect the housing recession at it's worst. June is customarily one of the more active months for closings because that is the beginning of the summer season. Here in Southampton, we see the bulk of houses are sold in the early spring with closings scheduled for June so that the new owner may enjoy their home for the balance of the season.
One of the fastest pace of sales here in the Village of Southampton usually happens in August and September; this reflects the enjoyment experienced by the visitors and tenants that have been here for part of, or for the whole summer season.
The one bright spot in the housing market here in Southampton Village is new construction; there have been 2 sales of new construction in the last 6 months on Post Lane alone. Other parts of the Village have seen the same pace in new construction and we see that is a trend for the long term....
We will see what happens this year in August--that will determine the success of real estate sales for 2012!
**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY
Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
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