Log In   ·   Become A Member

Hamptons And North Fork Real Estate Markets Continue To Grow

Nicole Barylski

Prime oceanfront real estate in the Hamptons will cost a buyer a pretty penny. (Photo: Nicole Barylski)

The Hamptons real estate market is showing no signs of slowing down.

The average price for a home in the Hamptons has reached an all-time high, up 15.6 percent to $2,389,499, according to a report by Douglas Elliman Real Estate and appraiser Miller Samuel Inc., which also states that a record number of houses were purchased for over $5 million and over $10 million within the fourth quarter.

"After a lull in high end sales over the past several quarters, Hamptons high end sales activity snapped back in contrast to other housing markets in the region, especially above the $5 million threshold," explained Jonathan J. Miller, President and CEO of Miller Samuel Inc.

The median price on the North Fork was also on the rise, and was measured at its highest level since the financial crisis began. The median price, which rose 14.2 percent to $522,500, increased year over year for the seventh quarter in a row. The North Fork real estate market saw a 40 percent increase in sales falling between $1 million and $2 million, but overall, the number of sales fell 19.6 percent to 180.

Nicole is the Editor-in-Chief of Hamptons.com where she focuses on lifestyle, nightlife, and mixology. She grew up in the Hamptons and currently resides in Water Mill. www.hamptons.com NicoleBarylski NicoleBarylski

Related Articles:

Be the first to comment on this article. (Just fill out the form below)

Submit Your Comment

Please note, you are not currently logged in. Your comment will be submitted as a guest.
To submit your comment as a member, please click here.
Your Name:
* Comments will be reviewed and posted in a timely fashion
* All fields are required
Please type the word 'water'
(For spam prevention, thanks)
East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!

Advertise on Hamptons.com - Have your business be seen by over 2 million viewers including NEW searches
Hamptons.com- Our exclusive online magazine has 2.6 million Page Views YTD for 2015. Contact us to join our elite group of clients that benefit from having a presence on the Hamptons award winning publication www.Hamptons.com

Hamptons Carpet One Floor & Home
We pay less,and so do you.With over 1,000 stores in our buying group, we can get the lowest prices from the best flooring manufacturers and pass the savings on to you.Visit our other locations: Hamptons Carpet One Floor & Home, 675 North Sea Road,Southampton, NY 11968

Southampton Masonry-Visiting the Southampton or the Wainscott locations is an exciting experience.
Southampton Masonry has been serving Long Island's masonry and tile needs since 1975. Delivering quality products from Manhattan to Montauk for over three decades. The company's continued success is due primarily to their number one priority: customer satisfaction, with a promise of prompt and courteous service from the professional, knowledgeable staff. Southampton Masonry has the largest inventory on the east end. As direct importers they can offer a large variety of the finest quality products at the most competitive pricing for both your interior and exterior projects.

RJD Gallery specializes in contemporary art with a focus on Magical, Figurative Realism, Narrative Portraiture and Urban Landscape.
We exhibit representational artists from around the world, who produce fine art of exceptional quality that challenge collectors to contemplate concepts about the artist, themselves, and our human experience. Utilizing timeless techniques in creating their drawings, paintings and sculptures, our artists have developed unique, signature styles that present a current vision of our world.