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Hamptons Home Prices Fall for the First Time Since 2019
Long Island’s luxury enclave is facing a test as buyers balk amid turbulence in the banking sector and high mortgage rates.
Homes in Southampton, New York.
Photographer: Johnny Milano/BloombergThis article is for subscribers only.
Buyers in the Hamptons are taking a pause.
The median home sale price in the luxury Long Island enclave fell 7.6% in the first quarter, the first decline since 2019, while the total number of homes sold slumped 44% from the prior year to 424, according to data from Town & Country Real Estate.