2014 was an incredible year for Hamptons Real Estate. TOWN & COUNTRY, like most other brokerages, had its best year ever by far.
One shocking statistic was that not every market saw gains in the Number of Home Sales. In fact, 3 of the 12 markets monitored by TOWN & COUNTRY saw declines, with the steepest drop in East Hampton Village at 21%. One market, Shelter Island, remained the same at 17 home sales year to year 4th Quarter.
But the main take away from these statistics is in the BLACK in Bridgehampton (which includes Water Mill and Sagaponack) as the Maserati. Bridgehampton nearly doubled its Total >Home Sales Volume to a staggering $366,815,500 worth of home sales transferring in the last 3 months of 2014. In 4th Quarter 2013 Bridgehampton (which includes Water Mill and Sagaponack) had ZERO sales in the $20 million and up category, while in 4th Quarter 2014 there were 5 homes sales in that stratosphere. That’s over $100,000,000 in just that one price category.
White hot Montauk, statistically, blew every other market away with 83% more Home Sales and a 194% greater Home Sales Volume year to year 4th Quarter.
All Hampton Markets Combined tells the tale of the most staggering year for high end Hamptons Real Estate. In the last 3 months of 2014 there were 22 Home Sales over $10 million and 11 over $20 million — in 2013 there were only 2 over $20 million. The question in everyone’s mind is “Is this a new trend or the spike we see every 7-10 years?”. The answer to that question is tied to the stock market.
The other rare find in this 4th Quarter Town & Country Home Sales Report is that we topped the billion dollar threshold in Total Home Sales Volume at $1,284,226,683. We haven’t seen that in 7 years.