Hamptons And North Fork Real Estate Markets Continue To Grow
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
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.
Southrifty Drug 54 Jagger Lane, Southampton Village
Southrifty Drug is a small, neighborhood pharmacy with limited shelf space, and we have to be very selective about which over-the-counter items we carry. As a result you'll find a no nonsense concentration of very effective, high quality and useful products on our shelves. In this new section, we feature a number of these products that we feel are especially worthy of your consideration.
New York Title Abstract Services, Inc.
We are a title insurance services company dedicated to promptly delivering fully compliant and accurate reports, and title insurance, for residential and commercial real estate throughout New York State. Headquartered in the Hamptons, our professional team has extensive real estate experience and understands the business from all sides including title insurance, legal, sales, governmental, banking, and lending regulations.
Aimee Fitzpatrick Martin, Licensed Associate Real Estate Broker
Considered a West of the Shinnecock Canal expert with a 5-star Zillow ranking, Aimee specializes in the luxury and waterfront markets in Quogue, Westhampton Beach, Remsenburg, East Quogue and Hampton Bays. With exceptional communication skills and a buttoned-up approach to every deal, she is highly skilled in the art of the negotiation process. Understanding the nuances of buying and selling waterfront homes, especially on Dune Road, is a specialty.
As the owner’s representative our practice encompasses all aspects of a project from pre-purchase property due diligence, program development iterations, advisement on systems, analyze contracts/vendors, critical path analysis, feasibility and schedule. The strength of our approach is in facilitating organized communication. We strongly analyze all representations and warranties for the protection and benefit of our client.