The Hamptons Real Estate market is a Return to Pre-Pandemic Market Conditions
Continuing to stabilize after the run-up of sales and prices that occurred after the Covid-19 Outbreak, the Hampton real estate market is experiencing fewer sales and lower prices than in the previous two years, but is very similar to pre-pandemic conditions.
The number of residential transactions declined by 22.4% compared to the 2nd quarter of 2022 and was 57.2 % less than the record-high 858 sales in 2nd quarter 2021. But the 367 recorded sales of 2nd quarter 2023 are higher than the 332 sales in 2nd quarter 2019.
For the entire Hamptons region, the average sales price dipped by 13.9% to $2,664,401, the third highest 2nd quarter average price to date. The median sales price- which measures the middle of the market fared better, only declining 2.7% to $1,800,000 which is tied for the second highest 2nd quarter median price to date.
