As the summer Hamptons season creeps closer, here’s how housing prices there started 2008.
The luxury numbers below are taken from a fourth quarter 2007 report (PDF) authored by Jonathan Miller for Prudential Douglas Elliman.
- Sagaponack was the most expensive Hamptons enclave. The average sales price for a luxury home there rose in 2007 from $7.3 million to $13.7 million.
- East Hampton was the second most expensive with an average luxury price of $8,538,333 in the fourth quarter.
- Southampton was third with an average of $7,088,818.
- Then, Amagansett with an average of $6,562,500. And, rounding out the top five most expensive Hamptons enclaves, Quogue with an average of $4,131,000.
For the Hamptons entirely, of course, the home prices were much lower.
- The average price was $1,777,796 in the fourth quarter. That represented an annual increase of 19.8 percent.
- The median was $950,000, a 19.1 percent annual increase.
We’ll have more geographically specific prices later.
