In Q3, Hamptons sales up, pricing down

On the East End, $5 million-plus market falters

New York /
Oct.October 15, 2012 05:30 PM

Sales activity but not pricing surged in the third quarter of 2012, according to Town & Country’s Home Sales report for that period, released today.

Activity rose in 11 of the 12 markets the brokerage tracks, with the number of homes sold overall in the Hamptons up 17 percent year-over-year. But the median home price was down 8.5 percent, with the $5 million and over market plunging 36 percent year-over-year. Total sales volume was up 1.6 percent, the numbers show, as the bulk of activity took place in the range under $2 million.

In East Hampton Village, sales increased most dramatically of any Hamptons submarkets, rising 57 percent year-over-year, though the median sales price fell 40 percent in the third quarter, from $4.85 million to $2.9 million.

The only area to see a drop in sales activity was Sag Harbor Village, where four fewer transfers meant a 40 percent drop compared to the third quarter of 2011.

The White Estate on Old Montauk Highway, which closed for $10.5 million, boosted sales in the Montauk region, where the total activity was more than $25 million — an increase of 60 percent year-over-year.

Median sales prices were appreciably up in only three areas: Sag Harbor Village, Westhampton and Amangansett.

Areas of the Hamptons with attractive school districts and more concentrated downtown areas have seen an uptick in year-round residents of late, as The Real Deal has previously reported. —Guelda Voien


Related Articles

arrow_forward_ios
Robert Futterman charged with DUI in Hamptons car crash
Robert Futterman charged with DUI in Hamptons car crash
Robert Futterman charged with DUI in Hamptons car crash
Philip Falcone and his homes at 142 Crestview Lane in Sagaponack and 22 East 67th Street (Getty, Corcoran, Google Maps)
Phil Falcone files appeal halting foreclosure of UES, Hamptons homes
Phil Falcone files appeal halting foreclosure of UES, Hamptons homes
Solow Building Company chairman Stefan Soloviev, CEO Michael J. Hershman and vice chairman Hayden Soloviev (Solow Residential, Fairfax, LinkedIn)
Stefan Soloviev, Sheldon Solow’s son, reorganizes family firm
Stefan Soloviev, Sheldon Solow’s son, reorganizes family firm
Philip Falcone and his homes at 142 Crestview Lane in Sagaponack and  22 East 67th Street (Getty, Corcoran, Google Maps)
Foreclosure on Phil Falcone’s homes can move forward
Foreclosure on Phil Falcone’s homes can move forward
90 Jule Pond Drive (Sotheby’s International Realty)
Hamptons estate asking $145M under contract, may set record
Hamptons estate asking $145M under contract, may set record
90 Jule Pond Drive is on t he market for $145 million (Sotheby’s International Realty)
$145M Hamptons estate languishes on market amid surging demand
$145M Hamptons estate languishes on market amid surging demand
The Hamptons have always been a hot location, but the rental market for this summer is already roasting.
The tri-state rental market’s endless summer
The tri-state rental market’s endless summer
Stewart Rahr and Hamptons estate in Wainscott (Getty, Bespoke Real Estate)
Pharma billionaire to sell Hamptons estate for $50M
Pharma billionaire to sell Hamptons estate for $50M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...