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…