Although year over year sales were relatively flat 2023 vs. 2024, median prices rose once again! In fact, median prices in the Hampton’s have risen year over year since 2020! In 2020 the median sale price was $1.48m and in 2024, the median price was $1.78m.
Q4 2024 OVERVIEW
- Total Homes Sales Transactions for 2024 was 1,464 vs.a comp of 1,488 in 2023 - a decrease of 2% year over year
- Median Price in 2024 rose to $1.9m vs. a comp of $1.85m in 2023 - an increase of 3% year over year
- Dollar Volume in 2024 was $4.65B vs a comp of $4.68B in 2023 - a decrease of 1% year over year
Take a look at what happened in the market last week:
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 17 Listings that went into contract.
Which is a year over year INCREASE of 41%.
This same week in 2023, there were 19 Listings that went into contract.
Compared to this past week, it’s an INCREASE of 26%.
The breakdown of these 24 Transactions are:
4 Between $5 and $10 Million
3 Between $3 and $5 Million
6 Between $2 and $3 Million
11 Between $1 and $2 Million
Over the past week, the Dollar Volume was $75 Million.
Compared to this same week last year (2024), the Dollar Volume was $56 Million.
Which is a year over year INCREASE of 34%.
This same week in 2023, the Dollar Volume was $48 Million.
Compared to this past week, it’s an INCREASE of 56%.
This past week there were 25 New Listings coming onto the market.
With 24 Listings going into contract, this INCREASES the inventory by 1 Listing.
