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Courtesy of Town & Country Real Estate / William Raveis
Hamptons home sales rebound in the fourth quarter
Courtesy of Town & Country Real Estate / William Raveis
David Winzelberg //January 3, 2025//
After a big drop in Hamptons home sales in the previous quarter, sales bounced back in the fourth quarter of 2024.
There were 439 homes sold in the Hamptons in the final quarter of the year, a year-over-year increase of 21 percent from the 362 homes sold in Q4 2023, according to a new report from Town & Country Real Estate, now William Raveis.
While sales were up compared with a year ago, prices retreated slightly. The median price of Hamptons homes sold in the fourth quarter of last year was $1.8 million, down 5.26 percent from the $1.9 million median price recorded in Q4 2023.
However, while the overall median price dipped, there were more big sales. There were 77 homes sold in the Hamptons for between $5 million and $19.99 million in the fourth quarter, an increase of 51 percent from the 51 homes sold in that price range in the previous year’s fourth quarter. Total sales volume in the fourth quarter exceeded $1.363 billion, a jump of 10.59 percent from the Q4 2023 total sales volume of just over $1.233 billion, according to the report.
On the North Fork, home sales saw a year-over-year decline. There were 106 homes sold on the North Fork in Q4 2024, down 12.4 percent from the 121 sales recorded in Q4 2023.
North Fork home sale prices also fell back slightly in the fourth quarter as compared with the previous year. The median price of homes sold on the North Fork was $932,500, a drop of 4.36 percent from the $975,000 median recorded in Q4 2023.
Most of the homes sold on the North Fork in the fourth quarter (82) had prices ranging from $500,000 to $1.99 million. That’s a drop of 18 percent from the 100 homes that sold in that same price range in Q4 2023.
The report from Town & Country, which is now William Raveis, includes the following communities in its Hamptons statistics: Sag Harbor, Shelter Island, Southampton, Amagansett, Bridgehampton, Water Mill, Sagaponack, East Hampton, Wainscott, Montauk, Westhampton, Westhampton Beach, Remsenburg, East Quogue, Quogue and Hampton Bays.
The North Fork report covers Mattituck, Laurel, Cutchogue, Southold, New Suffolk, Peconic, Orient, East Marion, Greenport, Jamesport, South Jamesport, Aquebogue and Baiting Hollow.
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