Words like “the most in 5 years” sound thrilling, but while the number of sales did increase dramatically from the depths of the Second Qtr 2009, the number of sales for Third Qtr 2009 were still less than 2007 & 2008. See  the LIRealestateReport

East End Total Number of Transactions

3rd Qtr 2007   — 724  ….   # of Foreclosures  —  5

3rd Qtr 2008   — 518  …    # of Foreclosures  —  9

3rd Qtr 2009   — 423   …   # of Foreclosures  —   10

and , with all the talk of foreclosures, only 10 foreclosures on the East End…

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Oct. 22 (Bloomberg) — Home sales in the Hamptons, the Long Island beach retreats favored by Hollywood celebrities and Wall Street financiers, surged 32 percent in the third quarter as deal seekers landed discounted properties.

Transactions climbed to 339 from 257 a year earlier…

see complete story here

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