Hamptons residential sales up in 1Q

April 16, 2012 03:30PM

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