Southampton home prices jump, rest of East End displays traction

July 15, 2011 06:05PM

Southampton village home sales prices have outperformed prices in all other Hamptons markets, hitting a median price of $2.995 million, according to a second-quarter, market-wide home sales report by Hamptons brokerage Town & Country released today (see report below).

For Southampton, that’s a 41 percent jump from $2.125 million in the second quarter of 2010. Of the total sales, there were six of $5 million or more compared to three such sales in second-quarter 2010. There was also a 135 percent gain in total sales volume for the town, to $144.4 million in 2011 from $61.5 million in the second quarter of 2010.

The other 10 markets monitored by Town & Country display different degrees of growth or stability. Amagansett posted a 24 percent gain in home sales and a nearly 13 percent increase in median price, to $1.875 million in the second quarter of 2011 from $1.66 million in the same period in 2010.

Westhampton experienced an 8 percent drop in home sales, to 54 from 59 home sales, but saw an increase in median price to $952,000 from $900,000.

Hamptons Bays is the only Hamptons market still struggling, according to the report. The number of home sales dropped to 34, from 36 in the second quarter of 2010. The median home sales price also dropped to $376,000 from $405,000. — Katherine Clarke
1310758066HamptonsQ2 2011 SalesReport-Site