Marketwatch: The Hamptons

In the second quarter, the median sales price rose 16.1% year over year to $2.2 million — the third-highest level on record — while listing inventory fell 9.5% to 1,166 homes, according to data from Housing Notes, compiled by Jonathan Miller, president and CEO of the real estate appraisal firm Miller Samuel. The upmarket shift is also continuing, with homes priced below $1 million accounting for just 14.6% of listings, near a record low, while the share of properties asking more than $5 million climbed to a record 17.9%.

“The Hamptons and Wall Street are joined at the hip,” Miller said. “When Wall Street compensation is up, there’s a lot more churn out east.” 

With Wall Street bonuses already tracking ahead of 2024 and 2025, both record years, according to compensation consulting firm Johnson Associates, Miller expects demand to remain resilient. “The outlook for demand is strong,” he said. “Their only challenge in terms of activity is whether more inventory comes on the market.”

A busy summer
The Hamptons market is moving fast this summer, but not necessarily predictably. 

“Complete chaos,” says Christopher Burnside and Aubri Peele of Brown Harris Stevens, describing buyers and sellers changing their minds, deals being signed almost instantly and contracts lingering for weeks. Peele and Burnside’s favorite sale of the year was 137 Sandune Court in Sagaponack, an ocean-view property in an old-school neighborhood that they called “the last of the Hamptons in terms of development and beauty.”

Paulina Keszler of Sotheby’s International Realty is also seeing a busy market, with price improvements followed by quick deals. “It’s surprising how many buyers think the prices are too high, even though there is no inventory with a large pool of buyers,” she said. Her favorite transaction, 159 First Neck, was particularly meaningful: Keszler’s family had been friends with the sellers for years, and the property went to a family she said would give the Southampton estate “its next life.”

At Douglas Elliman, Terry Thompson said buyers are being more deliberate. “They’re being thoughtful and selective, with a clear preference for fully turnkey homes,” she said, noting her biggest sale was 56 Sherrill Road in East Hampton, which closed for $7 million, a street record, after selling off-market.

Where to find value
For buyers looking beyond the Hamptons’ priciest enclaves, Hampton Bays continues to stand out as a relative value. Both Thompson and Keszler point to the community as one to watch, citing its lower prices, convenient location and expanding roster of amenities.

Others are taking note too, however, as the hamlet’s average sales price rose 49% year over year to $1.58 million in the second quarter of 2026, according to Housing Notes.

“Hampton Bays has continued to perform very well as prices remain slightly lower than homes further East and offer strong value,” Thompson said. “It’s a community that continues to attract new buyers looking for both lifestyle and value.”

Keszler sees the same appeal. “As traffic continues to grow each year, buyers increasingly appreciate Hampton Bays’ convenient location, easy access to both ocean and bay beaches, and its growing collection of great restaurants and local amenities,” she said. 

Looking ahead to fall
The outlook for fall is decidedly mixed, though these agents expect the Hamptons market to remain busy as summer renters consider becoming buyers. 

“I expect the fall market to remain strong as more renters decide it’s the right time to become homeowners,” Thompson said. 

Keszler also sees an opportunity for sellers. “It’s a great time to list; so many of our renters are turning into buyers,” she said, adding, “If you see something you like, go see it quickly, especially if you are looking for turnkey.”

Peele’s advice is simple: “Make any deal you can if the price is right and don’t overthink it.”