Lower-priced properties were the most in demand during the quarter as buyers seeking value flocked to towns west of the Shinnecock Canal, such as Remsenberg and Hampton Bays, said Ernest Cervi, a senior vice president at brokerage Corcoran Group, which released its own report on the market Thursday.
Homes priced below $500,000 accounted for 42 percent of all sales west of the canal, compared with 37 percent a year earlier, Corcoran Group said. Deals for $1 million to $2 million accounted for 20 percent of transactions in those towns, up from 13 percent.
“Right now anything $3.5 million and under, your customer base is there,” said Desiderio of Town & Country.