The Real Deal New York

Hamptons residential sales up in 1Q

Closing out an active winter season, Hamptons sales prices and volume were up in the first quarter of 2012 compared with sales at this time last year, according to a report from East End brokerage Town & Country. Across all Hamptons markets, sales volume increased by 30 percent, to more than $394 million from $303.7 million in the first quarter of 2011, the report shows. The number of sales was up 18 percent, to 257 from 217 in the same period a year earlier, and the median sale price was up to $817,500, from $775,000.

The largest increases in sales were in the under $500,000 price range, which saw a 49 percent increase in sales, to 73 from 49 year-over-year, and the $3.5 million to $4.99 million range, which saw 15 sales, up from nine in first quarter 2011– an increase of 67 percent.

The Sag Harbor area saw “eye-popping increases,” the report says, with a 95 percent increase in total sales volume, up to $13.7 million, from $7.1 million, and a 68 percent increase in median sales price year-over-year, up to $1.6 million from $950,000. — Guelda Voien