Q2 2025 MARKET REPORT SUMMARY
Despite a 5% decline in sales, the average price was 10.5% higher in the Hamptons during the second quarter than a year ago. The increase in the average price was driven by an active high end, as the median price—which measures the middle of the market—was just 1% higher than 2024’s second quarter. The total dollar volume of transactions rose 5% over the past year to $1.5 billion, its highest level in the second quarter since 2022.
Prices for North Fork homes averaged $1,411,424 in the second quarter, 20.5% more than a year ago. The median price of $999,999 was a 10.1% gain compared to a year ago. There were 92 reported closings, which was 13.2% lower than the second quarter of 2024.
Demand for homes in the second quarter was helped by the strong performance of stocks in 2024 and the first quarter of 2025. While stocks reversed course after the President’s tariff announcements, they reached new records after most of the new tariffs were paused. Mortgage rates stayed in a narrow range between 6.6% and 6.9% before falling in the last five weeks of the second quarter.
