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Hamptons Mansions Pile Up on Market as Luxury-Home Sales Dip

  • Inventory of high-end houses on the market climbs 34 percent
  • Median luxury-home price falls 18 percent to $5.3 million
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New Yorkers who want to buy a high-end retreat in the Hamptons have plenty of options to choose from.

Sales of luxury homes in the area, known for its beachside mansions attracting financiers and celebrities, tumbled 16 percent in the third quarter from a year earlier to 52 transactions, according to a report Thursday from appraiser Miller Samuel Inc. and brokerage Douglas Elliman. The inventory of such properties -- defined as the top 10 percent of the market by price -- climbed 34 percent to 292.