Hamptons towns take sale-price rankings hit
Seven of its zip codes cracked nation’s top 100, but five lose ground
In the Hamptons, like anywhere else, it’s all relative.
Despite home prices climbing in the ritzy enclave, five of the six towns among the nation’s 40 most expensive fell in the rankings this year, according to Property Shark.
On the plus side, the Hamptons claimed seven of the 100 most expensive zip codes, one more than last year. The new entry was Sag Harbor at No. 69.
The rankings are based on median sale prices through Oct. 22. Atherton, California, remained atop the list for the fifth straight year, with 94027 sporting a median sale price of $7.5 million.
The Hamptons’ Sagaponack clocked in at No. 3, falling one spot as it was passed by Boston’s Back Bay neighborhood. The drop came despite its median sale price rising to $5 million from $3.9 million a year ago. The 11962 zip code was the only one in New York to rank in the nation’s top 10, as Bridgehampton’s 11932 fell to No. 31 from No. 7 because its median sale price sank by 11 percent to just under $3 million.
To be sure, Bridgehampton’s drop may be a random fluctuation, which is more likely with small sample sizes.
Still, a year ago the Hamptons had two zip codes in the top 10 and four in the top 30. Both numbers were cut in half this year.
The Hamptons accounted for six of the 10 most expensive zip codes in New York state. Water Mill’s 11972 was the only one from last year’s national top 40 to rise, jumping to 13th in the nation from No. 29 with a median sale price of more than $3.7 million.
Wainscott’s 11975 dropped 17 spots to No. 34 ($2.75 million median sale price), Amagansett’s 11930 fell five spots to No. 37 ($2.65 million) and Quogue’s 11959 dropped one tick to No. 38 ($2.59 million).
Sag Harbor’s 11963 rounded out the Hamptons entries at No. 69 ($1.9 million).
Among New York zip codes beyond the Hamptons, Old Westbury’s 11568 in Nassau County finished at No. 62 with a median sale price of $1.95 million; it has been called New York’s richest suburb. In Westchester County, Rye’s 10580 finished at No. 72 ($1.86 million) and Purchase’s 10577 was 88th ($1.7 million). Next was another Long Island entry: Manhasset’s 11030 at No. 96 ($1.65 million).
New York City placed six zip codes in the top 100, led by lower Manhattan’s 10013 at No. 22 ($3.2 million). It’s the first time since PropertyShark began its ranking that no New York City zip code finished in the top 20.
According to a Douglas Elliman report by appraisal firm Miller Samuel, Hamptons home prices neared record highs in the third quarter, seeing the year-over-year median price rise by 8.3 percent to $1.3 million. Low supply helped push that up, as only about 1,100 homes were available.