The median sales price for the 10 priciest streets ranged between $2.5 million and $11 million so far this year with Quogue’s Dune Road topping the list.
According to PropertyShark, the median sale price throughout the Hamptons reached $1.54 million in the first half of the year, an increase of about 5% in comparison to the median sale price in the first half of 2021, which was $1.47 million.
PropertyShark’s August 25 report was compiled by looking at streets with three or more home sales that closed between January and June 2022. The report has Quogue’s Dune Road, where there were three transactions, including the largest, a $17.5 million sale of an oceanfront home at 232 Dune Road, in the number one spot. The new 8,300-square-foot home, elevated above the dunes with 128 feet of ocean frontage and views of Shinnecock Bay, sits on a two-acre lot. Bespoke Real Estate represented both the buyer and the seller in the transaction when it closed in April.
While Amagansett, East Hampton and Southampton returned to the top 10, Sagaponack, Montauk, Water Mill and Bridgehampton were replaced this year with Quogue, Sag Harbor, West Hampton Dunes and Westhampton Beach — Dune Road carried the hamlets west of the Shinnecock Canal.
The data may come as a bit of a surprise since Sagaponack tops PropertyShark’s list of most expensive zip codes in the nation for 2021. Amagansett and Quogue are ranked 37th and 38th.
It may be because while the sale prices increased, the number of sales decreased significantly — 48% compared to the first half of last year. From January through June of 2022, PropertyShark’s data shows 894 transactions closed. Meanwhile, in the first half of 2021, there were 1,715 transactions recorded.
Most Expensive Streets in the Hamptons
Following Quogue’s Dune Road was Amagansett’s Marine Boulevard as the second priciest street thanks to a median sales price of $8.925 million. The $9.5 million off-market sale topped the three sales that closed in the first six months. Mickey Drexler, the former CEO at J. Crew and The Gap, purchased the 2,000-square-foot home in April. Martha Gundersen and Paul Brennan of Douglas Elliman represented both sides.
Bluff Road, nearby, came in at the third most expensive street with a median sales price of $6.672 million. The $32 million sale of 325 Bluff Road is also the most expensive deal on the top 10 priciest streets in the Hamptons.
Nearby, an oceanfront home on 2.59 acres off of Bluff Road sold in March for $32 million. A pair of non-oceanfront historic summer cottages on Bluff Road traded for $6 million and $7 million in separate transactions too. Back in March, the home at 325 Bluff Road, set on 2.59 acres along the ocean between Indian Wells and Atlantic Beaches, sold in an off-market deal.
A pair of non-oceanfront historic summer cottages on Bluff Road also traded for $6 million and $7 million earlier this year.
Coming in at number four on the list is Bittersweet Lane in Sag Harbor, where the median sale price was $5.424 million. The biggest transaction was recorded in the second quarter when waterfront property at 32 Bittersweet Lane sold for $6 million in June. The 2,200-square-foot, two-story home, situated on 0.33-acre lot with a pool, was listed as a package along with 24 and 28 Bittersweet Lane at $10 million.
Fifth on the list is also Dune Road, but this time the portion in West Hampton Dunes, where the median sales price was $4.23 million. There were four sales recorded between January and June 2022 with the highest being $5.8 million. The 3,870-square-foot home at 777 Dune Road offers seven bedrooms and a pool on a 0.65-acre lot. It sold in late March.
Dune Road appeared for the third time on the list in ninth place, this time with the Westhampton Beach portion, where the median sales price was $3,256,250.
“Of the 10 priciest streets, Southampton’s Hill Street had the most dynamic sales activity, closing 12 transactions in the first half of the year,” PropertyShark says, though these were mainly from the same development as The Latch drew to completion. Hill Street came in sixth on the list with a median sales price of $3,987,500.
“It was followed by three East Hampton streets with a total of eight sales each and Dune Road in Westhampton Beach with six transactions,” the report says.
The East Hampton streets were Three Mile Harbor Road, Gerard Drive in Springs and Middle Highway.
We will see which street holds the crown come the end of 2022.
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