Home Sales Reports for the mid-year 2024 market reports have been completed. Here are the numbers from Town & Country CEO & veteran broker Judi Desiderio.
The Hamptons
The Home Sales market trend for the Hamptons is vibrantly clear viewing ALL HAMPTON MARKETS COMBINED. In the first six months of 2024, compared with the same period in 2023, you see the dynamic shift to higher-priced home sales. Under $1M Home Sales sank 25%… this is due to a severe lack of homes under a million dollars, certainly, not a decline in demand… yet the $10-19.99M price category was up 24%, and $20M and up flew up 50% higher. The most number of home sales remained in the $1-1.99M price range at 221 for the first six months of this year.
The North Fork
The statistics for the first 6 months of 2024 may look like a decrease in activity — which statistically is true — but look behind the curtain and you see the entire North Fork has approximately 200 homes for sale — that’s scarily low inventory. The Median Home Sales Price held at $900k, soon to cross the million-dollar level.
