The Hamptons real estate market has reached new heights, with the median sale price exceeding $2 million for the first time, driven by increased buyer confidence in the $1 million to $5 million segment. First-quarter sales increased by 85.5% year-over-year, with the "Hamptons Middle" category representing nearly 54.6% of transactions. Despite gains in mid-range sales, the ultra-luxury market faces challenges, with a decline in average prices. Total inventory has been rising, alleviating competitive bidding factors from previous years, evident in sales trends from recent reports.
Home prices out east hit record highs in the first quarter of the year, signaling a red hot summer for the wealthy enclave's real estate market.
As for the median price, that specifically hit $2.04 million, marking a significant milestone for the Hamptons real estate.
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