“Maximum distortion”: How deals are changing on Long Island’s East End

Inventory is strapped on Long Island’s East End, but between the North and South forks, the lack of supply is pushing buyers to different ends of the market.  On the North Fork, deals skewed toward the upper tier in the third quarter, pushing median and average sale prices to some of the highest on record, according to data from Miller Samuel and Streetmatrix. But prices in the Hamptons declined during the period, as the majority of trades were again concentrated in the middle of the market.  “We’re going through this period of maximum distortion because inventory remains chronically low, and […]

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