Sales surge in the Hamptons, North Fork

Town & Country reports third quarter market results

The Hamptons (Getty)
The Hamptons (Getty)

New Yorkers have been rushing to the East End, and not just to rent.

Home sales surged in the third quarter in the Hamptons and North Fork, according to a third-quarter market report from Town & Country.

Four Hamptons markets — Southampton Village, Amagansett, Bridgehampton and Montauk — saw more than twice as many home sales close this summer than last.

Overall, 444 Hamptons homes were sold in the quarter, an increase of 52 percent from last year’s 292.

“The summer of 2020 will go down in the Hamptons real estate books!” Town & Country CEO Judi Desiderio said in the report.

Sign Up for the undefined Newsletter

Median home price also spiked, rising 24 percent to $1.275 million.

Mirroring a trend seen in New Jersey, sales activity increased the most at the high end of the market. Sales declined for Hamptons homes under $500,000, but skyrocketed for those fetching $5 million to $10 million, from 6 last summer to 26 this time around.

Although all areas of the South Fork saw more buyers, Easthampton had the most success in terms of number of homes sold, with 95, a 51 percent increase from 63 during the same time last year.

Across from the Hamptons, the North Fork was also busy. The number of third-quarter home sales there jumped 20 percent, from 90 last year to 108. Median home sales price increased 18 percent to $677,000, up from $575,000.

Read more