Real Estate
Hamptons Home Prices Jump to a Record High
- Competition heats up, with 1 in 4 deals ending in bidding wars
- Listings have climbed but there are more buyers than sellers
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Home prices soared to a record in New York’s Hamptons and sales rose year-over-year for the first time in 10 quarters.
Properties in the Long Island beach towns changed hands at a median of $1.85 million in the three months through December, up 45% from the fourth quarter of 2022 and more than double pre-pandemic levels, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate reported Thursday. Purchases climbed 8.8% to 273.