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Hamptons real estate market report: Q2 of 2018

The median home sales price in East Hampton village almost doubled compared to last year

Feng Yu / Shutterstock.com

The Town & Country homes sales report for the second quarter of 2018 has been released. Over the entire Hamptons market, we saw a 9.21 percent increase in total home sales volume, a 3 percent increase in number of home sales, 7.5 percent increase in the median home sales price.

All comparisons are made to the second quarter of 2017.

The number of home sales increased in the Sag Harbor area, Southampton, Amagansett, Bridgehampton, and the East Hampton area, while there were decreases in Sag Harbor village, Shelter Island, Hampton Bays, East Hampton village, and Montauk. Westhampton and Southampton village saw the same number of home sales as they did in the second quarter of last year.

Amagansett saw the greatest increase in not only the number of home sales—which was a 43 percent increase—but also, the total home sales volume, with a whopping 127 percent jump from last year.

East Hampton village had the largest growth in the median home sales price with an 88.24 percent increase, going from $3,187,500 to $6 million. The village also had the lowest number of home sales for the quarter, coming in with 9: a 25 percent decrease from 2017’s second quarter total number of 12 homes sales.

Meanwhile, Sag Harbor village and Southampton saw decreases in the median homes sales price. In the second quarter of 2017, the median price of a home in Sag Harbor village was around $1.95 million, whereas this quarter, that number is down to $1,225,000—a 37.17 percent decrease. Southampton village’s median sat at nearly $2.8 million at this time last year, but now it’s $2,175,000.

Town & Country

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