The Prudential Douglas Elliman/Miller Samuel fourth-quarter market report for the Hamptons is out, and it shows a whopping 41 percent drop in home sales compared to Q4 2007. The median sales price, $875,000, was still down almost 8% even though most of the closed deal were negotiated pre-economic crisis. Listing inventory was up 11 percent. Like Manhattan, the next few quarterly reports should draw more blood. [TRE]
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