The average sales price in the Hamptons soared 46% in the quarter to just over $2 million, according to a report from Douglas Elliman and Miller Samuel. The median sales price jumped 40% to $1.2 million, which is now higher than Manhattan’s median sales price of $1.1 million. This is the result of wealthy families spending more time away from their lives in Manhattan. The beach home in many cases is no longer just a secondary home for vacationing,
Robert Frank, Hamptons real estate prices break records as New York City wealthy flee to the beach,
https://www.cnbc.com/2020/10/22/hamptons-real-estate-prices-break-records-amid-flight-from-nyc.html#:~:text=Prices%20in%20the%20Hamptons%20hit,Douglas%20Elliman%20and%20Miller%20Samuel (Oct. 22, 2020).
Tags: beach homes, beach property, Hamptons, Hamptons real estate, record real estate prices, soaring sales prices