East End sales buoyed by East Hampton, Montauk

New York /
Jul.July 22, 2013 05:30 PM

The Hamptons saw a boost in home sales in the second quarter of 2013, led by a 27 percent jump in transactions in East Hampton and a whopping 35 percent jump in Montauk, according to a report from East End residential brokerage Town & Country.

East Hampton saw 112 home sales in the second quarter of 2013, up from 88 a year prior. The median home sales price saw a slight increase as well, up almost 1.9 percent to $845,000 from $829,000 last year. Montauk saw 27 home sales in the second quarter, up 35 percent from 20 sales this time last year. But this far corner of the island saw a slight dip in the median home sales price, which fell just over 10.7 percent to $750,000, down from $840,000 in the same quarter of 2012.

East Hampton Village, holding steady at 17 home sales in the second quarter both this year and last, closed $130 million in home sales in the second quarter of 2013, an 82 percent jump from the same period in 2012. And the median home sales price in the area hit $4.3 million – a whopping 207 percent surge from the same period last year.

Sag Harbor Village had the biggest fall in the number of home sales in the second quarter, dropping from 14 this time last year to 12 in the second quarter of 2013 – a 14 percent drop.

Median home sales prices, meanwhile, saw a healthy boost: up almost 52.2 percent to just over $1.09 in the second quarter of 2013 from $710,000 last year.

The most significant tumble in median home sales price was in Bridgehampton, where price tags tumbled 18.2 percent to $2 million this quarter from nearly $2.5 million last year. The number of home sales fell slightly in Bridgehampton as well, from 62 in the second quarter of 2013 to 59 this quarter, a 5 percent tumble. – Julie Strickland


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