THE HAMPTONS, NY - The first six months of 2018 claimed a few milestones.
East Hampton Village Median Home Sales Price rocketed to $6.9 million, which is more than double the $3.3 million Median Home Sales Price for the first six months of 2017. Such activity tethered the Total Home Sales Volume to shoot up over 75% to $167,414,992 — and that’s on only 24 sales.
The most expensive sale of the year so far — 290 Furher Lane, Estate of James Marcus traded for $40M just outside the Village.
The East Hampton Area (which includes Wainscott) held the record for the most Number of Home Sales at 201.
Bridgehampton (which includes Water Mill and Sagaponack) blew everyone away with $412,664,838 in Total Home Sales Volume — basically 23% of all dollars in the Hamptons Home Sales were in the Bridgehampton market (which includes Water Mill and Sagaponack). Two of the five home sales over $20 million were right here with 719 Ocean Road, Bridgehampton, the Estate of Elinore Munroe at $22,711,119 and 51 Halsey Lane, Water Mill, Villa Maria at $26.1 million. It’s important to mention the sale of Villa Maria was inclusive of adjacent properties but our reports are based on individual Suffolk County Tax Map numbers.
Shelter Island took a break in the first six months with a 33% drop in the Number of Home Sales and 46% decline in Total Home Sales Volume, yet, conversely the Median Home Sales Price rose 28.5% to $970,000.
Looking at all Hamptons markets combined, one statistic just jumps right out at you. The price category $5M - $9.99 million leaped up 59% to close 59 homes sales vs 37 last year — trend? We will see as 2018 closes out.
To view all reports, visit http://www.TownAndCountryHamptons.com/html/marketReports.php
For more information contact - Judi A. Desiderio, CEO, jd@TCHamptons.com, 631.324.8080