Bloomberg Businessweek has given Sagaponack the prestigious title of “The Priciest Small Town In America” with a median home value of roughly $3.5 million. Other East End small towns (the list’s rankings are of locales with fewer than 10,000 people) also made the list, based on research by real estate site Zillow.com—Quogue and East Hampton are also on the list, while Watermill landed in the number 4 spot, following Jupiter Island, Florida (2.49 million median home value) and Los Altos Hills, California ($2.16 million median home value).
Vanessa Wong writes in the Bloomberg Businessweek article, “Multimillion-dollar abodes make living in Sagaponack a luxury, especially considering that it’s mostly a second home market: The U.S. Census Bureau estimates that 71.3 percent of homes in the village are for seasonal or occasional use. (Water Mill and Jupiter Island have a notable portion of seasonal homes as well, 60.5 percent and 35.8 percent, respectively.) Sagaponack’s wealth is not unusual in the area, which has long been a destination for affluent New Yorkers. Long Island might even be considered the country’s hub for posh communities, with nine of the 20 most expensive small towns in the ranking located in Nassau and Suffolk counties.”
Sagaponack earned the title the last two years as well, although the median price of homes in Sagaponack are overall down by just over 10 percent from last year