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Hamptons Home Sales Jump, Chopping the Supply of Listings

Hamptons Home Prices Climb As Luxury Properties Attract Buyers

Photographer: Paul Taggart/Bloomberg

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Hamptons home sales jumped in the fourth quarter, surprising even most the optimistic brokers, as buyers moved to close deals in a stock market-fueled rush.

The sales surge left 756 homes on the market in the Long Island resort towns at the end of December, down 43 percent from a year earlier and the biggest decline in supply since the first quarter of 2008, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Thursday. It would take 4.1 months to clear all the listed homes at the current pace of sales, the quickest rate in records dating back to 2006.