This info is true (and expertly compiled by Jonathan Miller)but remember, some of this info is as much as 6 months behind the actual transactions.
Business that happened in September closed (or didn’t as the case may be) in December or January and got reported in February or March. Sad, but true, this is old news…not that today’s news is much better, but we are hearing of some uptick in spring activity. We’ll have to see if it translates into transactions.
The Real Deal's Jen Benepe talks to market analyst Jonathan Miller, president of appraisal firm Miller Samuel
Hamptons Real Estate Blog 
4 comments
April 27, 2009 at 1:04 pm
The Real Deal - Hamptons Takes A Hit in First Qtr 2009 · Real-Estate.ExplainedHere.Com
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April 27, 2009 at 1:11 pm
The Real Deal - Hamptons Takes A Hit in First Qtr 2009 · Real-Estate.ExplainedOnline.Net
[…] Original post by Hamptons Real Estate Blog […]
April 28, 2009 at 9:58 am
Jonathan Miller
Hmmm. While your delay range is true, the bulk of the sales recorded are 45-90 days from contract to close to recording. There was definitely an uptick in activity at the end of quarter, most of that is seasonal, which is a good thing.
Your blog is always a must read michael!
April 28, 2009 at 10:31 am
Michael Daly
Thanks Jonathan,
That is not a reflection on the quality of your research. As a matter of fact, your market reports are the most reliable to be found. I know how challenging it was to develop your Hamptons and North Fork market report and has brought us forward light years in terms of market information.
see: http://www.millersamuel.com/reports/pdf-reports/HNF1Q09.pdf
The primary frustration is that consumers and agents are looking for current market data and there is little to none less than 45-90 days old, due to the nature of how business is conducted in the Hamptons. If we could have reports based upon what was going into contract, that would be 45-90 days more current info, but due to the refusal of Hamptons brokerages to employ a market-wide listing system, like an MLS, that provides that kind of information, our reporting will always be a lagging indicator and any “current” market data will be annecdotal and that’s not good enough today with all the tools and information available.