Home Sales Reports for Q1 2024 are trickling in. According to Town & Country CEO & veteran broker, Judi Desiderio:
Starting with all Hampton markets combined, you see a 15 percent decrease in the number of home sales and the total home sales volume. Conversely, the median home sales price climbed 14 percent from $1,662,500 in ‘23 to $1.9 this year.
Amagansett wears the crown for the first three months of 2024 with a staggering 70 percent increase in the number of home sales. Admittedly, Amagansett’s market is finite, and the number of home sales went from 10 to 17, which is quite a statistical rise. With 298 Further Lane closing at $40M and 34 Ashwood Court selling at $10.65M. The total home sales volume rocketed up 149 percent and the median home sales price shot up 44 percent to $4,000,005.
Bridgehampton (which includes Water Mill and Sagaponack), held the record for the highest total home sales volume for the quarter, with $202,711,000 changing hands. This stat was catapulted by four home sales in the $10 to 19.99M price range — the most of any hamlet monitored by Town & Country.
East Hampton Village, where the median home sales price dropped a record 36 percent, from $6.75M to $4,297,500, which was the highest median home sales price of all hamlets for Q1 2024… whiplash! Two of the six home sales in the price range of $20M+ closed in East Hampton Village, but even with those two uber-high-end home sales, the total home sales volume sank over 50 percent from $212,012,800 to $102,786,648. Fear not, this crown jewel shall rise again.
Q1 2024, on the North Fork, was strained primarily due to a severe inventory shortage. The demand for all forms of North Fork properties remains under great demand. Is it interest rates, geopolitical turmoil, lifestyle, or the domino effect? “I’d like to sell and trade up (or down), but there’s nothing to buy.”
Well, as we all know, nothing lasts forever…
The Hamptons
The North Fork
