The first 6 months of 2014 was an impressive up tick compared to last year. 11 of the 12 markets monitored by
TOWN & COUNTRY saw increases in the Number of Home Sales with only Montauk experiencing a dip of 15% from 62 home sales in 2013 to 53 in 2014 first half of the year. Having boots on the ground, our Montauk office reports this dip is solely due to a lack of inventory and does not reflect decrease in demand.
Four specific markets increased by 50% or more… Southampton Village, Sag Harbor Village, Sag Harbor Area (which includes Noyack and North Haven) and Hampton Bays. Amagansett checked in with a 42% jump in Number of Home Sales – an honorable mention. East Hampton Area (which includes Wainscott) posted 189 home sales in the first 6 months which is in line with last year’s 188, and still the most of any market.
9 of 12 of the individual markets realized gains in Total Home Sales Volume, as well as Median Home Sales Price.
Bridgehampton (which includes Water Mill and Sagaponack) closed an incredible $346 million in home sales — which is nearly twice the volume of the second highest Total Home Sales Volume for Southampton Village. Looking at the 7 price categories monitored by TOWN & COUNTRY, Bridgehampton (which includes Water Mill and Sagaponack) sold the most homes over $2M, with 6 over $10M.
East Hampton Village had the greatest Median Home Sale Price at $2.5M, Amagansett came in second at $2.3M and Bridgehampton (which includes Water Mill and Sagaponack) came in third at $2.165M.
Viewing All Hamptons Market Combined and you clearly see the heightened activity we feel in the industry. Black across the board with a solid 21% increase in the Number of Home Sales and a 24% increase in Total Home Sales Volume. Additionally, the Median Home Sale Price for the South Fork rose 6.7% to $950,000.
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