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Hamptons House Prices are Going Up, Not Down

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Using the top ten sales metric

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?