Hamptons Home Prices Climb

[Claude From NY]

I came across this piece while researching current market conditions for an assignment. I think the bottom line in the luxury segment is Wall Street. If Wall Street is doing better so is the Hampton luxury market imo. FYI:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1UiZ2ePT7qI

 

[The Warrior Monk]

One has to be careful when examining data in this market. If you want to see a great example of that, check out the spike in average price in East Hampton Town in 2007...a larger part of that is due to one sale (broken into two transfers).

Prices will appear to spike, when it's simply due to more transactions at the higher end relative to sales at the lower end. That pushes both average and median prices upward. Prices are clearly down over past years if the data are analyzed at the micro level.