Monday Morning Matters - How’s the Market

Monday Morning Matters - How’s the Market

Zillow has transformed the way people search for real estate. A few years ago they started offering tools like the Zestimate to provide home owners and buyers with an understanding of value. 
While this can be a starting point, a Zestimate can not replace local knowledge and expertise. 

With a nationwide median error rate of 2.4% for on-market homes and 7.49% for off-market properties, Zestimates often miss the nuanced factors that drive home values in specific markets like the Hampton’s. Down to every last sale in the area, I rely on firsthand market knowledge and a deep understanding of what makes each property unique to provide the most accurate and thoughtful pricing analysis for every buyer and seller.

Take a look at what’s happened this past week in the market:

Over the past week there were 23 Listings that went into contract from Westhampton to Montauk.

Compared to this same week last year (2024), there were 28 Listings that went into contract.

Which is a year over year DECREASE of 18%.

This same week in 2023, there were 20 Listings that went into contract.

Compared to this past week, it’s an INCREASE of 15%.                                                 

The breakdown of these 23 Transactions are:

4 Between $5 and $10 Million 

6 Between $3 and $5 Million 

Between $2 and $3 Million 

5 Between $1 and $2 Million 

3 Under $1 Million 

Over the past week, the Dollar Volume was $74 Million.

Compared to this same week last year (2024), the Dollar Volume was $94 Million.

Which is a year over year DECREASE of 21%.

This same week in 2023, the Dollar Volume was $60 Million.

Compared to this past week, it’s an INCREASE of 23%.  

This past week there were 34 New Listings coming onto the market.

With 23 Listings going into contract, this INCREASES the inventory by 11 Listings.                                                                                                                           

The breakdown of these 34 New Listings are:

5 Between $5 and $10 Million 

4 Between $3 and $5 Million 

6 Between $2 and $3 Million 

14 Between $1 and $2 Million 

5 Under $1 Million

Work With Jennifer

With 20 years of luxury real estate experience in the Hampton's, Jennifer Wilson offers a unique and unparalleled approach to the purchasing and marketing of luxury properties in the Hamptons. Backed by the Saunders design team, Jennifer offers her clients a comprehensive and state of the art approach to marketing that promotes her luxury listings locally and globally. In addition, her strategic partnerships with NY Title Abstract Service, award winning design and staging companies, mortgage brokers, and top local attorneys makes the buying or selling process competitive and seamless.

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