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Hamptons Home Prices Surge to a Record as Pickings Get Slimmer

Hamptons Home Listings Surge To Record As Buyers Dither On Deals
Photographer: Johnny Milano/Bloomberg

Hamptons home prices reached a record high as New Yorkers stepped up their bidding for a dwindling supply of listings in the Long Island resort towns.

The median price of homes that changed hands in the second quarter jumped 30% from a year earlier to $1.405 million, the highest in data going back to 2005, according to a report Thursday by appraiser Miller Samuel Inc. and Douglas Elliman Real Estate. Of the 675 deals in the period, 21% were for more than the asking price.