The Changing Landscape of Hamptons Real Estate

In the ever-fluctuating world of real estate, the Hamptons has seen its fair share of ups and downs. Over the past week, there have been 25 listings that went into contract from Westhampton to Montauk. This is a significant increase of 32% compared to the same week last year.

However, when compared to the same week in 2022, there has been a noticeable decrease of 32% in listings going into contract. This fluctuation in numbers demonstrates the volatility of the market.

Taking a closer look at the breakdown of these 25 transactions, it is evident that the Hamptons caters to a diverse range of buyers. One listing falls between $10 and $20 million, while another falls between $5 and $10 million. Additionally, there are listings between $3 and $5 million, $2 and $3 million, and $1 and $2 million. Three listings are priced under $1 million, highlighting opportunities for those seeking more affordable options.

When it comes to the dollar volume, the past week has seen an impressive figure of $76 million. This marks an increase of 31% compared to the same week last year. However, in comparison to 2022, there has been a 25% decrease in dollar volume.

Notably, there have been 33 new listings entering the market in the past week. This influx of new properties, combined with 25 listings going into contract, results in a decrease of 8 listings in the overall inventory.

As of February 6, 2024, the total inventory stands at 1,698 listings, encompassing both active and in-contract properties. Of these, 1,318 listings are active, indicating opportunities for those still searching for their dream home, while 380 listings are already under contract.

The Hamptons real estate market is a dynamic and ever-changing landscape. Buyers and sellers alike must navigate the fluctuations in inventory, dollar volume, and listing activity. Whether it’s a year of increase or decrease, the Hamptons remains an enticing destination for those seeking luxury homes and investment opportunities.

FAQ:

Q: How many listings went into contract in the Hamptons in the past week?
A: There were 25 listings that went into contract in the Hamptons in the past week.

Q: How does this compare to the same week last year?
A: Compared to the same week last year, there has been a significant increase of 32% in listings going into contract.

Q: How does this compare to the same week in 2022?
A: In comparison to the same week in 2022, there has been a noticeable decrease of 32% in listings going into contract.

Q: What is the price range of the listings that went into contract?
A: The listings that went into contract in the Hamptons vary in price range. One listing falls between $10 and $20 million, while another falls between $5 and $10 million. There are also listings between $3 and $5 million, $2 and $3 million, and $1 and $2 million. Three listings are priced under $1 million, providing more affordable options.

Q: What is the dollar volume for the past week?
A: The past week has seen a total dollar volume of $76 million.

Q: How does this compare to the same week last year?
A: There has been an increase of 31% in dollar volume compared to the same week last year.

Q: How does this compare to 2022?
A: In comparison to 2022, there has been a decrease of 25% in dollar volume.

Q: How many new listings entered the market in the past week?
A: There have been 33 new listings entering the market in the past week.

Q: What is the current overall inventory?
A: As of February 6, 2024, the total inventory stands at 1,698 listings, which includes both active and in-contract properties.

Q: How many listings are active?
A: Out of the total inventory, there are 1,318 active listings.

Q: How many listings are already under contract?
A: There are 380 listings that are already under contract.

Q: What is the overall state of the Hamptons real estate market?
A: The Hamptons real estate market is dynamic and ever-changing. Buyers and sellers must navigate fluctuations in inventory, dollar volume, and listing activity. Whether there is an increase or decrease in the market, the Hamptons remains an enticing destination for luxury homes and investment opportunities.

Definitions:

Hamptons: A region in Long Island, New York, known for its upscale real estate and popular vacation destinations.

Listings: Properties that are available for sale or rent in the real estate market.

Going into contract: Refers to when a buyer and seller agree on the terms of a real estate transaction, and a contract is signed.

Dollar volume: The total value or amount of money involved in real estate transactions within a specific period.

Active listings: Properties that are currently available for sale in the market.

In-contract properties: Properties that have entered into a contract but are still in the process of closing the transaction.

Suggested Related Links:
Hamptons Real Estate
Hamptons.com