Town & Country Hamptons 1st Quarter 2018 Home Sales Report
Posted by Town & Country Real Estate — April 16, 2018
BRIDGEHAPTON, NY - While there are small statistical changes in niche markets like Shelter Island, Montauk and Sag Harbor Village, sale performance is solid. Because the number of trades are so small in these niche markets (8 for Shelter Island, 11 for Montauk and 10 for Sag Harbor Village) the percentage statistic can swing wildly. For instance, on Shelter Island there was only one less home sale year to year in price category of $5M to $9.99M (one in 2017 and none in 2018) which resulted in a 45% drop in total home sales volume.
Bridgehampton (which includes Water Mill and Sagaponack) remains a strong driver with 64% more home sales and 96% greater total home sales volume - the greatest total home sales volume of any Hamptons market at $166,722,319. Impressive!
A deeper analysis into the eight different price categories monitored by Town & Country shows Bridgehampton (which includes Water Mill and Sagaponack) logged the most number of home sales in four of the five top price categories including two of the four sales over $20M — 719 Ocean Road, Bridgehampton at $22,711,119 and Villa Maria, Water Mill at $26.1M.
The golden child is East Hampton Village, shattering records! The median home sales price was $7.625M, a 154% leap over the $3M median home sales price year over year 1st quarter. The total home sales volume rocketed 375% from $16.772M in 2017 to $79.65M in 2018 during the same period.
Looking at all Hamptons markets combined, the trend is clear! The 1st quarter of 2018 was one of the best we’ve seen in years, particularly for the high end with 300% more home sales over $20M and 20% more homes sold resulting in 32% greater total home sales volume — a predictable trend since the stock market closed out 2017 up 25% and the benefits of the new tax code’s positive influence on our clientele.
Please visit the Hamptons 1st Quarter 2018 Home Sales Report to view the entire report