EAST HAMPTON, NY - Starting our year-end report at the bottom, let’s review All Hamptons Markets Combined. While home sale prices remained stable year over year, both the Number of Home Sales and Total Home Sales Volume were down by 19% and 19.5% respectively. The 4th Quarter of 2019 was way off therefore pulling these figures down.
Seven of the eight prices categories monitored by Town & Country realized declines of up to 38%, while the ultra-high end of $20 million and up rose 29%. This demonstrates a resurgence of sales activity of the uber wealthy.
Digging deeper into the specific markets, we see the statistical beacon for 2019 was Shelter Island with 44% more homes changing hands, which resulted in a 63% greater Total Home Sales Volume. The Median Home Sales Price, though, dipped 5% to $950,000 from $999,000 year over year.
Bridgehampton market (which includes Water Mill and Sagaponack) tallied the greatest Total Home Sales Volume of $682,386,829, but that was still 17% less than 2018.
East Hampton Village remained on the throne for the highest Median Home Sales Price at $3,513,213, yet that was 28% lower than the Median Home Sales Price of $4,878,750 logged in 2018.
Southampton Village experienced a whopping 31% higher Median Home Sales Price of $2.75 million up from $2.1 million, 2019 to 2018 respectively.
Sag Harbor Village Median Home Sales Price rose 12.6% to $1,550,000 from $1,377,000 — thanks to a 19% increase in the $2-$3.49 million price range.
If December 2019 and January are indicators for 2020, then we expect this year to be a great year for Hamptons Real Estate since all eight Town & Country offices are reporting greater winter sales activity than we’ve seen in over a decade.
To view all reports visit http://www.townandcountryhamptons.com/market-reports