797 Daniels Lane in Sagaponack was among Q1 sales. (Courtesy Photo)
"The 1st Quarter of 2018 was one of the best in years for the high end," Judi A. Desiderio, Town & Country Chief Executive Officer, stated about Town & Country's Hamptons 1Q 2018 Home Sales Report. "We saw a 300 percent rocket up of home sales over $20 million year over year!"
There was a whopping 96 percent increase in Total Home Sales Volume in Bridgehampton (which covers Water Mill and Sagaponack as well) that resulted in $166,722,319 of sales - the highest of any Hamptons market. Home sales were up by 64 percent, and Bridgehampton also had the largest Number of Home Sales in four of the five top price categories - including two of the four sales over $20 million. 719 Ocean Road in Bridgehampton was sold for $22,711,119 and Villa Maria in Water Mill left the market for $26.1 million.
East Hampton Village also saw an astonishing uptick in sales. The Median Home Sales Price came in at $7.625 million, a 154 percent jump over last year's $3 million Median Home Sales Price during Q1. Total Home Sales Volume grew in the Village by a monstrous 375 percent - from $16.772 million in Q1 of 2017 to $79.65 million in 2018.
Upon exploring all Hamptons real estate markets during Q1, it was certainly one of the strongest the area has seen in a while. In addition to the 300 percent growth in home sales over $20 million, there was a 20 percent uptick in homes sold that led to the Total Home Sales Volume to increase by 32 percent.
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