59 Hither Lane in East Hampton Village. (Courtesy Photo)
"The Second Quarter of 2017 showed a strong demand for luxury properties, which is a very healthy indicator for our markets across all price points," shared Ernest Cervi, Regional Senior Vice President of the East End at the Corcoran Group.
An increase in South Fork high-end sales over the Second Quarter of 2017 drove Hamptons quarterly sales volume up by 4 percent, while average prices were up 11 percent and median prices saw a 5 percent increase, according to The Corcoran Report 2Q17 East End.
"The demand for luxury properties always exists, but this year, a lot of demand took place in the second quarter for high-end properties," Cervi explained.
Compared to the Second Quarter of 2016, nearly twice the amount of $10 million sales transpired. Both Southampton Village and Water Mill were especially desirable in the Second Quarter of 2017, with the average Water Mill sales price jumping to $4.848 million, a 64 percent increase, and the median price rose to $3.725 million, a whopping 86 percent increase. The number of sales was also up showing a 60 percent increase to 24 (from 15). In Southampton Village, average sales price grew by 82 percent to $5.446 million. The median price also rose, showing a 40 percent increase to $2.8 million. Even with the rising prices, the number of sales was also up by 32 percent to 29 (from 22).
"People are settling in and making decisions to purchase," noted Cervi. "While people were sitting out before, we now know that interest rates are going one way, and that would be up!"
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.
Paul Guillo And Chris Hall
Two Of The Most Respected Names In The Community
Together, they are partners in CP Complete. They bring their years of experience
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Hamptons luxury real estate specialist for 34 years, Andrea Ackerman offers outstanding expertise in the field. Trusted, experienced and successful, Andrea has solidified herself as the go-to broker of the Hamptons and a wholehearted advocate for her clients. A pioneer in the real estate industry on the East End of Long Island, she is driven by her passion for the business. Andrea is based in the Bridgehampton office of Brown Harris Stevens as a licensed real estate associate broker and consultant.
Formerly, a principal partner and Senior Director at Brown Harris Stevens, Andrea now assists in developing their corporate strategy for the Hamptons region, advising other brokers and sales associates, as well as being one of the top producers and listors.
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Our menu focuses on seafood and Greek dishes such as salt baked fish, seafood pasta and Mediterranean mezze. Our wine list has been awarded The Award of Excellence from Wine Spectator and boasts the largest selection of rosé in the Hamptons. The name Calissa is derived from the brightest constellation in the summer sky.Our sister restaurants in New York are Amali and Bar Marseille, opening 2020 in the Rockaways. Calissa offers private dining spaces for groups from 10 to 300 people. To plan your next wedding, corporate event or gathering, please email firstname.lastname@example.org. 1020 MONTAUK HIGHWAY, WATER MILL