The coveted Hamptons & North For Year End Reports are In! According to Town & Country CEO & veteran broker, Judi Desiderio, “As the eternal realist, I have no problem delivering the 2023 Year End stats. While some may argue it was a ‘good year for them’, I’m a numbers junkie — and the numbers don’t lie. All 12 Hampton markets monitored by TOWN & COUNTRY were in the red on the Number of Home Sales and Total Home Sales Volume and 7 of the 12 markets even showed red when it came to Median Home Sales Price — this was the only shocker for the Year End report for me! Let’s start at the bottom since I normally read the first paragraph or two then go straight to the last few for the gist of any article or study…
“As we all experienced in the trenches… the Number of Home Sales was down by 26% year to year and the Number of Home Sales was off by nearly 31% — and 2022 was not a banner year!! All while the Median Home Sales Price stabilized at $1.78M. I want you to sit on that a moment… the Median Home Sales Price is $1.78M for the year 2023 – wow! Maybe I’ve been reporting on East End Real Estate Statistics too long but measured against national standards that’s quite impressive for a hamlet our size.
“Let’s dig deep and see who suffered the most— sorry that’s the analyst in me.”
In regards to the North Fork, Desiderio said, “The North Fork closed out 2023 with a bit of mystery. Let’s start at the bottom. Looking at all North Fork Markets combined what you see is a dip of 7.8% in the Number of Home Sales, which in turn caused the Total Home Sales Volume to slip less than 2% — all while the Median Home Sales Price rose 8.24%. Time for the mystery reveal… As of today, the entire North Fork has approximately 100 homes for sale — that’s crazy. Once the market opens up these figures will explode. Let’s get this party started in 2024!”
The Hamptons
The North Fork
