Q3 2023 Hamptons Market Report
A More Stable Market and Uncertain Times
Considering all the factors that are currently impacting the economy- including multiple wars and international tensions, continued inflation in the US and rising interest rates along with low housing inventory- the Hamptons real estate markets still remarkably strong.
Now that we are nearing the second full year after the surge in sales prices that in occurred I the wake of Covid-19, we can see the market entering a more stable period, with similar number of sales as pre-pandemic years and prices slowly normalizing after the very rapid rise to all time highs
The number of sales during the third quarter of 2023 declined by 4.6 % compared to the same period last year. This represents a difference of only 16 transactions between 335 sales in 3Q2023 and the 351 sales in 3Q22. Furthermore, when looking at the five-year history we see that there were more third quarter sales in 3Q23 than in 3Q19.
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David is relationship-driven with all his customers and business contacts and understands that being honest every step of the way is the only way to conduct business. As a result, his reputation in the industry is simply stellar. David is always energized at the idea of selling his clients’ homes with Brown Harris Stevens’ award-winning marketing and technology.