SOUTHAMPTON VILLAGE REAL ESTATE STATISTICS
The Real Estate Report, 474 Montauk Highway, West Islip, NY 11795, phone: 539-7919,
Pat Ammirati, owner, gathers data on all real property transfers in Suffolk and Nassau Counties. Their quarterly sales statistics of private homes and condos in the Village of Southampton and the Southampton 11968 Zip Code, excluding the Village, are shown above. To view a comparison of other sales figures by quarter over the last three years,
click here: Sales Statistics by Quarter
Suffolk Research Services, PO Box 775, Hampton Bays, NY 11946, phone: 357-9502, George Simpson, owner, gathers data on all real property transfers on Eastern Long Island. To view a comparison of the Southampton Village Real Estate Market over the last ten years,
click here:
Median Price of Single Family Residences
Units Sales of Single Family Residences
Dollar Sales of Single Family Residences
Unit Sales of Residential Vacant Land
Housing stock is a limited commodity in Southampton Village. 2004 was a record year for sales with only 176 units sold. The average volume for the last 11 years is only 127 units sold. Vacant land is even more scarce. In the last nine years the largest volume of residential vacant land transfers occurred in 2000 with only 19 units sold.
Local housing statistics support the price stability in the Southampton Village real estate market. For example, Suffolk Research Services reports that the median price of a single family residence in Southampton Town declined 13.52% in 2008 to $799,900. This compares to an 18.98% increase in the Village of Southampton to $2,100,000, a trend inconsistent with most of the rest of our country.
In an April 9, 2009 article Bloomberg.com reported as follows, "In Southampton Village, home to the most expensive property sale in 2008 at $60 million, transactions declined 85 percent in the quarter to just three houses. The total value of all homes sold in the village was $2.8 million, a 98 percent decline from the year earlier, when $166.3 million in property changed hands."
Actually, in the 1st quarter of 2009 there was only one full-interest residential transaction; the others were all partial interest transactions!
The Southampton Village market has since done a turnaround, with 20 residential homes closing in the 2nd quarter, 27 in the 3rd quarter, and 26 in the 4th quarter of 2009, and 24 in the 1st quarter of 2010 as per the Real Estate Report. Additionally, with complete numbers not in yet,
there were at least 25 residential sales during the second quarter.
Volume was about double for the first half of this year when compared to
the same period last year.
Citing a similar trend, George R. Simpson, President of Suffolk Research Service, Inc., says, "The real estate market on the East End of Long Island is showing strong signs that a market turnaround happened in the 2nd quarter of 2009 – and the upward trend has continued for the 4th quarter of ’09."
