2022 Top 10 Most Expensive Hampton Home Sales certainly ranks up there — at first glance.
To that end, the top spot doesn’t compare to 2021, when 90 Jule Pond in the Ford Estate (Fordune) in Watermill sold for $105,000,000 and the next two spots had 7’s in front. Speaking of 7’s, as you recall, I’ve mentioned several times in these reports that I hypothesized ULTRA high-end home sales, where ceilings get shattered, are on a 7-year cycle, so I went back to the Town & Country 2014 Top 10 Report where #1 was 62 Further Lane – East Hampton $97,000,000 Andrew S. Gordon Trust to 62FL LLC. If my hypotheses comes to fruition 2028 will be the next year records are broken — TWT (time will tell).
Back to the 2022 report… As you would have expected, all but one closed within the first 7 months of the year — which means these are deals negotiated end of 2021 or the first few months 2022 — before the Fed shut the valve off. To further exemplify the market shift of coming off the pandemic wave, and it was quite a ride, let’s get granular: in 2022 five of the Top 10 were in the $30’s, in 2021 none were in the $30’s. Further demonstrating the year-to-year difference. But for the most dramatic display of power the pandemic injected into our markets since 2020, you have to look back at the Town & Country 2019 Top 10 Report where the #1 most expensive Home Sale was 263 Surfside Drive in Bridgehampton at $39,250,000 — this would have been #6 on the 2022 chart and the rest of 2019 would not have even ranked! This demonstrates how much values appreciated. Even letting some air out of the balloon won’t send our markets back to that level– there’s a waiting list of buyers preparing to pounce.
Back to 2022… to no surprise, all but one in this chart are oceanfront homes — the Big Blue has always been, and will always be, the golden ring. The one in-land property was #2, the amazing Linden Estate at 160 Ox Pasture in Southampton Village– a magnificent piece of classic Hamptons heritage on one of the most famed roads on the East End.
One observation worth noting is the diversity in locations. These Top 10 Reports are historically dominated by closings in East Hampton Village and Southampton Village, but 2022 showed the bulk of the South Fork is on the radar of the uber wealthy. There were 3 in Southampton Village, 2 in East Hampton Village, 2 in Sagaponack, 2 in Amagansett, and 1 in Bridgehampton. Interesting.
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