America can now breathe more easily:
Sales activity in the Hamptons is now on par with, or even higher than, the mid-2000s peaks. While prices are still below boom-time levels, most of the inventory from the recession has now been absorbed. And in some areas, “there are more buyers than sellers,” says real-estate broker Andrew Saunders of Saunders & Associates.
As a result, buyers and renters are widening their search to areas previously viewed as less desirable. Even the once-titanic divide between north and south of Montauk Highway is less pronounced. Because of their proximity to the ocean, homes south of the highway have long been the most expensive, but houses to the north are now seeing more demand than in the past.
OK, maybe not fully recovered, if we’re talking prices. But it’s close enough, damn it. … America needs good news like this.
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Updated: December 2017