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Wealth

Hamptons Home Prices Hit a Record in Pandemic Boom’s Last Gasp

A dearth of listings, higher mortgage rates and recession fears are crimping buyer demand.

In East Hampton, 145 Accabonac Road sold for $7.2 million in May.

In East Hampton, 145 Accabonac Road sold for $7.2 million in May.

Source: Brown Harris Stevens
Updated on

Home prices in New York’s Hamptons continued to reach records in the second quarter, but the market’s pandemic boom days may be coming to an end.

The median sales price across the posh Long Island beach towns was $1.6 million, an all-time high and up 14% from a year earlier, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. For luxury properties — the top 10% — the median soared 31% to $8.5 million.