November Sales Surge
The Hamptons real estate market surged in November, with several high-end sales taking place over the past few weeks. According to a Compass market report, 37 properties went into contract between November 13 and 19. Compass’ Matthew Breitenbach recently closed on a $6.5 million-dollar new build, a co-exclusive with Mala Sander of the Corcoran Group, at 232 Main Street in Sag Harbor Village. Breitenbach says that this is the “busiest it’s ever been this late in the season.”
Overall, sales in the Hamptons were off in the third quarter by 13.3 percent year over year, while the median price rose 8.4 percent, according to Douglas Elliman’s Hamptons 3Q market report. Luxury inventory was at a seven-year high, says the report’s author, Jonathan Miller. Apparently, more buyers than ever are going into contract in the fourth quarter, with an aim to close by the end of the year.
Photo via Compass