January 21st, 2016 - by Judi Desiderio
Filed under: East End, East Hampton, Hamptons Real Estate, Home Sales Reports, Judi Desiderio, market conditions, Real Estate, town & country real estate

It’s as though the year was divided into 2 completely different experiences.

2015 started out with a BANG — the high end enjoyed a wickedly cool ride, the best it has had since 2007 — then came the summertime swoon and the 1000 point intraday stock market drop. Suddenly, it was as though the Big Boys (and Girls) in the over $20M price range packed up and went home. Fortunately, most of the other price ranges remained relatively engaged.

8 of the 12 individual markets monitored by TOWN & COUNTRY experienced declines in the Number of Homes Sales, as well as Total Home Sales Volume, but only 3 posted a lower Median Home Sales Price.

Bridgehampton (which includes Water Mill and Sagaponack) closed over $1B in Home Sales in 2015 — now that’s impressive!

Amagansett apparently suffered the worst statistically, with a drop of 21% in the Number of Homes Sales and a decline of 28% in Total Home Sales Volume but keep in mind this is a small hamlet so 22 less houses sold in 2015 from 2014 created a significant statistical change.

Median Home Sales Price in the East Hampton Village shot up a whooping 52% from $2.5M in 2014 to $3.8M in 2015. Examining closely the 8 specific price ranges and the reason is clearly found in the $5 – $9.9M range where twice as many homes sold year over year in East Hampton Village.

Looking toward All Hamptons Markets Combined and you can see Home Sales activity for 2015 in the Hamptons dropped just slightly from 2014, with 5% less homes trading, resulting in a 6.8% lower Total Home Sales Volume.

The Median Home Sales Price posted for the year rose slightly from $975,000 to $997,000, or 2.25%.

Click HERE for full report & statistics…

Leave a Reply