Yesterday, Reuters reported that "The market for luxury homes in the Hamptons, the summer playground for Wall Street's wealthiest, is losing some of its luster as financial markets limp along for a second year." The evidence for that? "The average price of the 10 most expensive homes sold in this cluster of towns, villages and hamlets on Long Island's east end was $35.5 million in 2015, 20 percent lower than the $44.6 million recorded the year before," according to Town & Country Real Estate.
OK—but those figures are based on TEN properties total each year from 2006-2015. We’re not convinced that ten properties is statistically significant. Sure, 2015 didn’t really see any blockbuster headline making sales, such as Barry Rosenstein paying $147M for 60 Further Lane in 2014 or Ron Baron paying $103M back in 2007, which of course skew the averages higher. So far in 2016, the top deal has been for $110M on Lily Pond Lane in East Hampton, which is almost twice the highest price of 2015, $57.3 million for 226 Further Lane.
By the measure used by Town & Country, then, 2016 is likely to be a banner year for sales, we say. What do you think? Whither Hamptons house prices on the top end?