Pursuits
Hamptons Home Prices Surge as Luxury Properties Lead Jump
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Home prices in the Hamptons, the Long Island beach towns that attract summering Manhattanites, surged 22 percent in the third quarter from a year earlier as demand climbed for the most expensive properties.
The median price of homes sold in the quarter increased to $850,000 from $696,000 in the same period last year, according to a report today from New York appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate. The number of houses that sold for $5 million or more almost tripled in the Hamptons and North Fork areas on Long Island’s East End.