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Article: Wall Street comeback begets surge in Hamptons home sales; Deals up 32%; even Madoff's digs fetch more than asking.(NEWS)
- Article from:
- Crain's New York Business
- Article date:
- October 26, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: AMANDA FUNG
Home sales in the HamptonsLong Island's beach oasis for the rich and famousare back in a big way, with sales volume rising 32% in the third quarter from the same period last year, according to a new report.
The Hamptons real estate market has been hit harder by the recession than the city's, and a lack of activity on the East End in the first half apparently led to a burst of demand over the summer.
Sales surged to 339, up 50% from the second quarter, according to the report, conducted by Prudential Douglas Elliman and appraisal firm Miller Samuel Inc. Median sales prices for the quarter fell just 2.4%, to $810,000, from the ...
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