Pursuits
Hamptons Average Home Price Jumps on $5 Million Sales
This article is for subscribers only.
The average home price in New York’s Hamptons, the beachside retreat for financiers and celebrities, jumped 20 percent in the fourth quarter, lifted by a surge in sales of properties priced at $5 million or higher.
Hamptons homes sold for an average of $1.9 million in the quarter, compared with $1.59 million a year earlier, New York-based appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today. The median price fell 2 percent to $900,000, reflecting deals across the spectrum, said Jonathan Miller, president of Miller Samuel.