The last quarter of the year is often the most important for real estate in the Hamptons, as people rush to close deals before the end of the year. Good news, then: after several lackluster quarters, the first of the real estate market reports for the last quarter of 2017 has arrived, from Town & Country, and the results are excellent.
Compared to the same quarter in 2016, in the third quarter of 2017, there were 105 more home sales, a 36% jump, and nearly 43% more total home sales volume. As far as individual areas, no surprise that the usual winner, Southampton Village, is on top again in the fourth quarter. Southampton Village closed over $145 million in sales in the fourth quarter, with a median home sales price of $4,292,500.
East Hampton Village was no slouch either. This scrappy little underdog managed a $4,000,000 median home price, with the greatest increase of any area for number of home sales (100% increase year over year!) and total home sales volume (up 181%).
Other standout areas: Sag Harbor area (includes Noyac and North Haven) achieved a 74% increase in home sales and 61% increase in sales volume; Hampton Bays managed a 32% increase in home sales and 67% increase in sales volume; and Montauk scored a 62% increase in home sales and 52% increase in sales volume.
Well done, all.
