High End Homes Selling Fast In Hamptons: Report

EAST HAMPTON, NY — As the summer heats up, scores of homeowners are scooping up homes in the Hamptons, so they can enjoy the East End all year long.

According to Brown Harris Stevens’ 2Q17 Hamptons Market Report, the market in the Hamptons is robust: The average sales price in the Hamptons increased +24.9% to $2,045,999 and the median price rose +10.1% to $1,100,000 during the second quarter of 2017.

And, while the total number of 2Q17 South Fork sales remained relatively constant compared to 2Q16 — 411 in 2017 vs. 417 in 2016 — the total dollar volume soared +23.1% to $840,905,478.

In fact, high end homes are selling fast: There were 12 sales over $10 million in the Hamptons in 2Q17, compared to only 4 in 2Q16, the report said.

Of the Hamptons home sales, 70.5% of sales recorded in the Hamptons east of the canal, and 86.2% of sales west of the canal, were under $2 million.

The robust numbers were not, however, reflected on the North Fork ,where sales dipped from 164 in 2Q16 to 134 in 2Q17, for a decrease of -18.3%, the report said.

To view the entire Brown Harris Stevens 2Q17 Hamptons Market Report, click here.