While the second quarter of 2007 saw the median sales price of Hamptons homes hit $1.1 million, today that price has dwindled down to $770,000, according to data from Prudential Douglas Elliman. This marks a 30 percent drop, and agents working across the luxury region are noticing the changes. “Things that were priced for $1.1 [million] or $1.2 million, you can bring down to under a million now,” Southampton’s Beau Hulse Realty CEO Thomas Hulse said. According to Peter Moore, a sales agent at the Corcoran Group, the average home in the Hamptons is selling for 15 percent below its asking price.
Hamptons sales prices way below asking
August 27, 2009 11:43AM