Thats what came out in our meeting at Prudential Douglas Elliman last Tuesday, we were told of at least 7 deals that are happening right now. One house is a lovely 1930's 4 BR on .36 of an acre that will close at the end of the month. The asking price was $4.2 Mil and the deal is being done at just under that.
On my street here in Southampton Village, there are two new houses being built right now, and around the corner from me there are 2 renovations and 2 new builds underway. This is just one part of one quadrant of the village.
The village of Southampton is an anomaly; downturns in the real estate market here don't happen the same way as the rest of the country. Sales taper off to a degree but because we have such pent-up demand......and "there is only so much village" most buyers who want to own a house here find buying opportunities that they normally would never see.
So, this is an opportunity to buy here. Now is the best time because come spring, I suspect prices will start to go up again!