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Hamptons Housing Prices Hit Record High in 4Q of 2015

The party's not over yet when it comes to Hamptons real estate. The last quarter of 2015 saw the most sales above $5 million, the most above $10 million, and the highest $5 million plus market share in a decade. The average sales price hit a new record high (in the 11 years this metric has been tracked), up 15.6% to $2,383,499, compared to the same quarter in 2014. The median sales price, at $997,000, was the third highest on record and the highest since the financial crisis. Inventory was down 6.5%; there were 613 sales in the third quarter, down 16.5% than in 2014Q4.

The luxury market (the top 10%) was particularly strong; the median sales in this sector surged 19% to $8,300,000. The luxury average sales price was also up sharply, rising 12.5% to $12,300,965. There were 62 sales above $5 million for the quarter, accounting for 10.1% of all sales, another record.
· Elliman Market Reports [PDF]