REAL ESTATE East Hampton Star
Market Was More Normal
By Aurrice Duke

We had the chance to speak with Aurrice about east End real estate this week. md

… The median is the market price at which half of the houses sold for more and half sold for less.  On eastern Long Island, the median sales price for a single-family residence was $660,000 in 2006, up 7.3 percent from the previous year’s median sale price of $615,000, said George R. Simpson, president of Suffolk Research Service.

(East End) Sales volume decreased 9.4 percent to a total of $3.9 billion (3,148 units sold) for 2006, compared to $4.3 billion (4,144 units sold) in 2005. It has doubled since 2004, when it reached $2 billion…

On a national level, the median sale price was $222,000 in December 2006, which remained unchanged from last year, according to the National Association of Realtors…

  “I have found that Southampton has normalized,” said Michael Daly, owner-broker of Southampton’s Beach Properties of the Hamptons. “The median and average price continues to rise, though sales are down. It’s nothing to worry about.”
see the complete story here