The first quarter of the year has come to a close, and the Hamptons real estate market kicked 2018 off to a good start. According to the Town & Country Home Sales Report, the first quarter of 2018 was “one of the best we’ve seen in years.”
All comparisons made are to the first quarter of 2017.
Overall, the Hamptons saw a 31.5 percent increase in total home sales volume, a 20 percent increase in total number of transactions, and a slight increase in the median home sales price.
The Bridgehampton area (which includes Water Mill and Sagaponack) had an incredible $166,722,319 total home sales volume—a whopping 96 percent increase from last year. The East Hampton area (which includes Wainscott) was the next highest for total home sales volume, behind Bridgehampton at $97,086,664.
East Hampton village also experienced an 154 percent increase in the median home sales price. So while last year the median home sales price was $3 million, that shot up this quarter to $7,625,000.
Southampton village, on the other hand, saw a 57 percent decrease in the median home sales price. What used to be $3.75 million now sits at $1,612,500.
- Hamptons 1st Quarter 2018 Home Sales Report [Town & Country]
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