Hamptons home buyers have a strong preference for new builds: panel

TRD New York /
May.May 17, 2017 03:51 PM

Even a 10-year-old home is too old for some buyers. Experts at a Southampton real estate panel last week agreed that if there’s one trend in the Hamptons right now, it’s that new houses are selling like hot cakes. “The dramatic shift has been the availability of newer construction,” said Corcoran’s Gary DePersia. “Even a house built in the late ’90s or mid-2000s can feel dated to a buyer. People want their own homes.” Builder Joe Farrell of Farrell Building Company agreed, saying it’s much easier now to sell new houses. The panelists also acknowledged the slight market downturn toward the end of last year. The lowered numbers can attributed to buyers “paralyzed by politics,” according to Town & Country CEO Judi Desiderio. [27E]


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