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Hamptons Homebuyers Come Back, Lured by Deep Seller Discounts

  • Price cutting spurs the first increase in purchases since 2017
  • Fourth-quarter reductions were biggest in more than four years
Hamptons Home Listings Surge To Record As Buyers Dither On Deals
Photographer: Johnny Milano/Bloomberg

Homebuyers are interested in the Hamptons again. It took the biggest price cuts in more than four years to bring them to the closing table.

Purchases in the Long Island beach towns jumped 11% in the fourth quarter from a year earlier, the first annual increase since the end of 2017, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Seller discounts averaged 12.9%, the largest since 2015.