Town & Country Hamptons Mid Year 2015 Home Sales Report
Posted by Town & Country Marketing — August 24, 2015
EAST HAMPTON, NY - The first 6 months of 2015 does not statistically document what most Hamptons Brokers would have expected.
Here at TOWN AND COUNTRY all 8 offices and 150 Associates have reported heightened sales activity in just about every price range. But the statistics show a different first half of the year with 7 of the 12 markets monitored by TOWN AND COUNTRY down by as much as 22%. Only 3 markets showing increases in the Number of Home Sales, Southampton Area (which includes North Sea) + 16%, Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue) +8% and East Hampton Area +7%, East Hampton Village and Sag Harbor Village were both unchanged.
Looking at Total Home Sales Volume, again 7 of the 12 markets were down by as much as -54% on Shelter Island. In fact our darling Shelter Island seems to have experienced the deepest pull back. All 3 criteria monitored by TOWN AND COUNTRY declined on Shelter Island, in so far as, the Number of Home Sales dropped the most at -22% and Median Home Sales Price took a slight dip at -2.65% from $790,938 to $770,000, year to year.
Westhampton (which includes Remsenburg, Westhampton Beach, East Quogue, Quogue and Quiogue) on the other hand, was a strong performer, with the Total Home Sales Volume record of the report at +36% from $166,133,588 in 2014 to $226,024,167 in 2015 and a 35% leap in Home Sales Price from $747,000 to $1,009,450.
Southampton Village took the crown for Median Home Sales Price gain at 44% from $1,668,750 in 2014 to $2.4 million in 2015. But in East Hampton Village the Median Home Sales Price for the first 6 months of 2015 was an impressive $3.1 million. Bridgehampton (which includes Water Mill and Sagaponack) closed the most sales over $10 million – there were 11 in the first half of this year.
Looking at All Hampton Markets combined and the report is more in keeping with the sentiment from the boots on the ground. While the Number of Home Sales was nearly unchanged, the Total Home Sales Volume was up 6% and Median Home Sales Price up nearly 3%. Not as strong as we would have expected but a solid mid year report.
To view all reports visit TownAndCountryHamptons.com/Reports.