Real Estate News

Hamptons Real Estate Market Report Says Prices Up, Number of Sales Down

The third quarter of 2015 saw an uptick in the median home sales price in the Hamptons real estate market, while the number of homes sold slid by nearly a third compared to a year prior, according to the Town & Country Real Estate quarterly sales report.

The median home sales price jumped 7.14% from $910,000 to $975,000.  The number of homes sold in the third quarter of 2014 was 410, and a year later the quarter’s sales totaled 293.

Town & Country states that this report marks a pullback from 2014’s heightened activity, with 2014 appearing to be a banner year and 2015 a normal year. Dips in the number of sales on the low end are attributed to a lack of inventory, while high-end sales are said to be sluggish because buyers in that demographic are “parking” their money for now.

On the high end, there were no sales for more than $20 million. A year prior, there were four. Sales under a million dipped from 226 transactions to 153, a 29% decrease.

“The numbers don’t lie,” Town & Country President Judi A. Desiderio said. “Individual agents and companies can have record quarters, but individuals don’t make the market.”

Read the full report at townandcountryhamptons.com.

Facebook Comments

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *