The average sale price at Hamptons, a New York playground for Rich and Famous, has increased above $ 2 million for the first time in history.
Housing prices in East reached record records in the first quarter of the year, indicating a hot red summer for the real estate market of the rich enclave.
The data, compiled in Miller Samuel’s Quarterly report For Douglas Elliman brokerage and covered by The real businessIndicates a return of pocket buyers and deep pocket confident to the South Fork, partly in the average range segment of the region of $ 1 million to $ 5 million properties.
The sales of the first quarter in those of Hampton almost duplicate compared to the same quarter in 2024, increasing a robust 85.5% year after year. Offers increased considerably in that period of 230 to 420 closed sales in the coastal community.
As for the medium price, that specifically reached $ 2.04 million.
A high record number of sales fell into what the author of the report Miller called “Hamptons Middle”, which entrusts those sales between $ 1 million and $ 5 million. Almost 54.6% or agreements in the first quarter of 2025 were in this segment, compared to a 39% participation of sales a year ago.
Miller told the real agreement that he attributed the upward trend of sales “Hamptons Middle” to buyers in this price range, unlikely to buy in cash, feel more comfortable when taking out a mortgage.
The ultra luxurious market of the enclave Fought last yearwith falling sales in almost $ 200 million. That weakness between trophy properties seems to have been overcome in 2025.
Luxury sales, which Miller defines in the higher 10% of the transactions, saw that the average prices decreased by 11.8% year after year and the entrance price threshold fell 7.5%.
The listing inventory, Miller reported, has expanded in Hamptons for more than two years. The total inventory increased by 9.7% in the first part of 2024, a continuous increase that reduces bidding wars.
“A couple of years ago, the inventory was almost non -existent,” Miller told The Real Deal. “But the demand remained in place, and only allows more sales.”
The Sturt’s growth coincided with a year of Banner for Wall Street, since the profits and bonuses of 2024 reached bank accounts and bankers Slafappy sought their vacation to the east.
Miller said Wall Street profits are linked to profits in the Hampton market, calling them “united to the hip.”
