Hamptons sales, prices drop

The Hamptons is a popular destination for Wall Streeters, but with 93,000 jobs cut in financial services nationwide, less people are buying homes there. Sales in the Hamptons fell 29 percent in the second quarter of 2008, and the median price fell 11 percent to $735,000, compared to last year at the same time, according to Suffolk Research Services. Southampton’s median price fell 8.6 percent, and East Hamptons’ price fell 11 percent.