A. Bradley Nelson
Chief Marketing Officer Sotheby's International Realty
WElcome to the hamptons 2021 proved to be a perfect storm for the high-end housing market as the starts-and-stops of the pandemic continued to fuel strong demand for larger homes while inventory struggled to keep pace. Here in the Hamptons, the luxury market experienced a slowing trend in the number and volume of sales from the extraordinarily high rate of activity set in motion in 2020, as the trends in this report explore.
A view from The Hamptons
Credit TK
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RECENT MARKET MOVERS The Hamptons saw the strong demand for luxury properties continue through 2021. In this relatively small geographic area, there were 73 sales between $10,000,000 and $20,000,000 and 29 sales greater than $20,000,000, including 6 sales at a purchase price of greater than $50,000,000 (Long Island Real Estate Report.) Following a decline in inventory after nearly 20 months of robust sales, competition for the remaining inventory remains intense with many transactions resulting in multiple bids. We invite you to explore our extraordinary listings at sothebysrealty.com.
PHOTO CREDIT: GAVIN ZEIGLER
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