The most expensive home sold in Sag Harbor in 2020 went into contract after just 60 days on the market.
The 10,000-square-foot residence at 23 Ezekillis Hollow sold for $14.5 million, which was $1 million under its asking price. It is the fourth highest price ever on the North Haven waterfront.
The newly built, two-story home sits on nearly two acres and features eight bedrooms and eight full baths.
As lockdowns continue to plague the city, the suburbs, and especially their luxury market, have gotten a boost.
“We saw a year-round community growing in the Hamptons — Covid was just gasoline on that trend,” said Matt Breitenbach, the Compass broker for the property. “When the luxury market gets cooking, it really heats up the rest of the market.”
Of homes bought between April and June, one in four were priced at $500,000 or more, up from 14 percent during the preceding nine months, according to a National Association of Realtors survey of more than 8,000 people who bought primary homes in the 12 months ending in June.
The median household income of buyers also increased significantly, hitting $110,800, compared with $94,400 for pre-pandemic buyers.