Around $8.1 billion in residential real estate has sold in the Hamptons since coronavirus lockdowns began a little over a year ago.
That’s twice as much as the previous year, according to a Brown Harris Stevens report cited by the New York Post. Homebuyers, particularly those from New York City, flocked east during lockdown in search of places to ride out the pandemic, leading to a real estate feeding frenzy unlike any ever seen on the East End.
Activity increased in other suburban and rural areas in the tri-state region as well.
Earlier this month it was reported that an estate on Jule Pond Drive listed for $145 million was in contract. Brokers are now hinting that the price is closer to $100 million, far lower than the Post suggested earlier, but still more than any sale last year and perhaps ever on the South Fork. [NYP] — Dennis Lynch