HAMPTONS REAL ESTATE
Hamptons residential real estate prices rank among the highest in the country. In 2015 Sagaponack, which had recently seceded from the Town of Southampton, was deemed the most expensive town in the US with a median sale price of $5,200,000. One year later the median home price bounced to $8,500,000. To bring things further up to date, in the third quarter of 2016, the median sales price of residential homes in all of the Hamptons was $2,900,000. The third quarter of 2017 shows considerable growth at $3,600,000 median price.
Besides wealthy American buyers and vacationers, the Hamptons attract international buyers due to its reputation as a luxury destination and proximity to New York City. In addition, a great part of the appeal of the area is its lack of crime, the convenience of getting here and the fact that 66% of the acreage is preserved green space. One could conceivably walk from Southampton to Montauk, on the beach, without ever seeing a commercial property, only stunning homes and pristine sand dunes.
All of the East End villages have charm but the perennial star of commercial investment is East Hampton, ‘America’s most beautiful Village’. There are few commercial properties for sale and, given the restrictions of the Town’s ‘Master Plan,’ no real opportunities for new development.
Why invest in East Hampton? One could start with top-rated U.S. beaches, and oceanfront estates, historic homes and cutting-edge modern masterpieces. East Hampton has an exciting arts community with top notch galleries and the renowned Guild Hall for art exhibitions, concerts and theatrical productions. Each Autumn, the village is home to the Hamptons International Film Festival with attendees flocking in from all over the world. If you’re looking for first class shopping and at least a dozen fine restaurants, East Hampton is an unparalleled four-season destination, a convenient two-hour drive from Manhattan, or an easy flight to our own airport.
One need only drive through the village to recognize why so many buyers choose East Hampton as their favorite year-round destination.