The Hamptons residential market hit new highs in Q2 2024, with the median sale price reaching $1.9 million, the highest since data collection began in 2005. This rise is due to low inventory and increased high-end sales, with transactions over $5 million tripling from last year. Sales above $1 million made up 67% of deals, marking a record market share. Overall transactions increased by 74%, though still below the 10-year average. In the North Fork, the median sale price slightly decreased, but transactions rose 14%, with listings surging 50% year-over-year. Bidding wars remained common, with 1 in 5 homes selling above the asking price.
The Hamptons residential market
