Apr
20
Hamptons Home Sales Hit Three-Year Low on Wall Street Turbulence
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Median price in Long Island resort towns slipped to $895,000
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`There’s just too much inventory’ at the high end, broker says
Home sales in New York’s Hamptons fell to the lowest level in three years as would-be buyers of beachside mansions stayed on the sidelines during a turbulent first quarter on Wall Street.
Purchases in the Long Island resort towns, a second-home market popular with financiers and celebrities, totaled 437 in the three months through March, down 19 percent from a year earlier, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Thursday. The median sale price of those transactions was $895,000, a 2.8 percent decline…
Hamptons Home Sales Hit Three-Year Low on Wall Street Turbulence
