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Elliman Report: Hamptons Sales 1Q 2016
After a record setting close of 2015, the performance of the Hamptons housing market was more modest in the first quarter of 2016. Price trend indicators were mixed as the decline in sales outpaced the slight drop in supply. Median sales price slipped 2.8% to $895,000 from the year ago quarter, the third highest first quarter result since 2005. Average sales price increased 7.4% to $1,891,758 over the same period, the highest first quarter result in eight years. Price indicators for the luxury market, representing the top 10% of all sales, outperformed the overall market. Luxury median sales price was flat at $5,500,000 from the year ago quarter…
