- Median home prices in the Hamptons reached an all-time high in the fourth quarter, with the median sales price hitting $2.34 million, up 34% from last year. Average sale price soared to $3.76 million, with a record 82 homes selling for over $5 million, driven by Wall Street bonuses.
- Wealthy buyers in the Hamptons, including hedge funders and venture capitalists, are contributing to the booming real estate market fueled by record Wall Street bonuses. Sales of high-end homes are driving up median prices as lower and middle segments face pressure from high interest rates.
- Despite high interest rates impacting lower and middle market segments, the Hamptons real estate market continues to thrive, with a shift to higher-priced home sales driving up median prices. Inventory remains low, especially for premium oceanfront homes, leading to a strong start to the summer rental and sales season.
- Wealthy New Yorkers, including those moving from Florida post-pandemic, and buyers from California are driving demand for Hamptons properties. With many high-end rentals already secured for the summer, those waiting for last-minute discounts in May may be disappointed. The appeal of the Hamptons as a meeting ground remains strong.
Read more at CNBC: Hamptons real estate prices hit record, summer rentals go fast