From the Hamptons Market Report: With its flashy beachfront mansions and trendy designer boutiques, the South Fork is widely viewed as a playground for the rich and famous. Yet below the radar of the eye-popping property deals, the market share of residential properties valued in the more modest $1 to $5 million price range has grown in recent years.
“The high end was first to come out of recession, and has done its thing,” said Jonathan Miller, the CEO of the Manhattan real estate appraisal firm Miller Samuel. In 2015, mid-tier properties gained ground; however, there were signs of softening in that segment in early 2016. [more]