HAMPTONS 2nd QUARTER 2024 MARKET REPORT
After a significant slowdown during 2023 and early 2024, the Hamptons real estate market rebounded during the
second quarter of 2024, with increases in the number of sales, total dollar volume and the average sold price.
There were 29.7% more sales transactions across the Hamptons in the second quarter of 2024 than in 2Q23,
representing a difference of 109 sales (476 in 2Q24 vs. 367 in 2Q23).
Even more impressive, the total dollar volume achieved in 2Q24 ($1.49 Billion) is 52.6% higher than in 2Q23. This
represents the second-highest second-quarter dollar volume recorded, slightly edging out the 2Q22 figure of $1.46
Billion.
The average sold price in the Hamptons during 2Q24 was $3,134,707, a 17.7% increase from 2Q23, and the highest
second-quarter average sold price to date. The median sold price, measuring the middle of the market, increased by
4% to $1,872,500 and is the highest second-quarter median sold price recorded.
These figures become even more striking when we break out the average and median prices for the Hamptons
markets East and West of the Shinnecock Canal. For the Hamptons East of the Canal, the average sold price during
2Q24 was $3,726,515 and the median price was $2,350,000. Reflecting the availability of homes at lower price points
West of the Canal, the average price for that region was $1,885,336 and the median price was $1,170,000.
Most notable was a 76.9% increase in the number of sales in the $10M+ category. The 23 transactions above $10M
in 2Q24 (only 4.83% of the total number of sales) accounted for $383 Million, or 25.7% of the total dollar volume for
the year.
While still nowhere near pre-Covid levels, the inventory of available homes for sale is up approximately 20%
compared to this time last year. The increase in supply, combined with a significant number of price adjustments of
houses that have been on the market for several months or longer, have contributed to the rise in buyer activity in the
second quarter of 2024.
The recent moderation in inflation and mortgage rates, combined with the continued strength of the labor market
and stock market, provides encouragement that the Hamptons real estate market will continue its robust pace
through the coming months.
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