Hamptons Home Sales Jump to 7-Year High as Prices Climb
This article is for subscribers only.
Home sales in New York’s Hamptons, Wall Street’s favored beach retreat, jumped to a seven-year high as buyers rushed to secure deals before expected increases in prices and mortgage rates.
Purchases in the three months through June totaled 675, up 25 percent from a year earlier and the most since the second quarter of 2006, when home values were climbing toward their peak, according to a report today by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Buyer competition for a small inventory of listings pushed the median price up 8.2 percent to $920,000.