Last year, 70% of buyers abandoned their home search – and maybe you were one of them. It makes sense. Inventory was low, prices were high, and mortgage rates were up and down like a rollercoaster. All of that made it really hard to find a home you loved.
The market is shifting, and if you paused your plans to buy in 2024, it might be time to hit play again. Here’s why.
More Inventory Opens Up More Options
There are more homes for sale than in the last few years, which means the market pace is a bit more manageable–with longer days on market–and many sellers are more flexible . . . Though buyers face still-high housing costs, they may find a bit more give in the market, which could give them more time to make a decision, even in the busy spring and summer months.
In fact the Hampton’s has seen an increase of inventory since the start of the new year.
This past week there were 29 New Listings coming onto the market.
With 24 Listings going into contract, this INCREASES the inventory by 5 Listings.
The breakdown of these 29 New Listings are:
1 Between $10 and $15 Million
9 Between $5 and $10 Million
4 Between $3 and $5 Million
7 Between $2 and $3 Million
6 Between $1 and $2 Million
2 Under $1 Million
Over the past week there were 24 Listings that went into contract from Westhampton to Montauk.
Compared to this same week last year (2024), there were 31 Listings that went into contract.
Which is a year over year DECREASE of 23%.
This same week in 2023, there were 35 Listings that went into contract.
Compared to this past week, it’s a DECREASE 31%.
The breakdown of these 24 Transactions are:
1 Between $10 and $15 Million
2 Between $5 and $10 Million
5 Between $3 and $5 Million
5 Between $2 and $3 Million
8 Between $1 and $2 Million
3 Under $1 Million
Over the past week, the Dollar Volume was $75 Million.
Compared to this same week last year (2024), the Dollar Volume was $97 Million.
Which is a year over year DECREASE of 23%.
This same week in 2023, the Dollar Volume was $111 Million.
Compared to this past week, it’s a DECREASE of 32%.
The overall inventory as of 3/25/2025
1,872 Total Listings (Active & In Contract)
1,415 Active Listings
457 In Contract Listings
