The 2nd Quarter of 2017 was clearly the 3 months that the high end made a recovery rebound. The blue chips of Southampton Village, East Hampton Village and Bridgehampton (which includes Water Mill and Sagaponack) all came roaring back from the tepid 2016.
All Hamptons Markets Combined for the 2nd Quarter of 2017 saw 4 closings over $20M, where there were none in 2016 same period. Two from Southampton:
328 Gin Lane – $31,000,000
1510 Meadow Lane – $24,600,000
One from East Hampton and Water Mill each:
32 Middle Lane, East Hampton – $25,000,000
1285 Flying Point Road, Water Mill – $20,500,000
In the $10-$19,99M price range 10 homes sold in 2017 compared to 4 in 2016, a 150% jump. And 6 of the 10 closed were from the Bridgehampton, Water Mill and Sagaponack region.
Seven of the 12 markets monitored by TOWN & COUNTRY saw increases in all 3 criteria – Number of Home Sales, Total Home Sales Volume and Median Home Sales Price.
The 2nd Quarter wasn’t all rosy for certain markets. Two popular niche markets, Montauk and Shelter Island,each experienced significant pullback in all 3 criteria. In fact, statistically, the greatest declines of all of the 12 hamlets both experienced solid red across the board.
In all, the 2nd Quarter of 2017 shows just how unique each of our Hamptons markets are and how they each move independently of one another.
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