Community Corner
Median Home Sales Up in First Quarter
Median prices jump, though luxury market drops sharply.
Median home prices on the North Fork jumped year-over-year in the first quarter, a stark contrast to a drop on the South Fork.
According to Real Estate Weekly, median home prices rose 18 percent on the North Fork while falling by 10 percent on the South Fork. A report from Prudential Douglas Elliman noted a 12 percent increase in North Fork homes year-over-year.
In particular, the report points out that median sales in Mattituck, Cutchogue and Laurel rose highest, at a collective 24 percent.
The luxury market – accounting for the top 10 percent in home sales – dropped by about 33 percent.
Click here to read more on Real Estate Weekly.
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