Monday Morning Matters - How’s the Market

Monday Morning Matters - How’s the Market

“The best time to buy a home is always five years ago.” Ray Brown
 
A look at our latest Hampton’s market report..

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.
 
Amid the uncertainty of 2024, the Hampton’s real estate market remained in high demand with median sales prices up from 2023, reflecting a market that is strong. The Hamptons continues to offer an unmatched lifestyle, with world class beaches, restaurants and shopping. 
 

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 

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.

                                                                                             

 

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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