As activity in the luxury market was booming in Manhattan and Brooklyn throughout 2012, the Hamptons didn’t lag behind either. Here’s the proof: sales in the very high end of the Hamptons housing market ($10 million and over) jumped 44% in 2012!
The overall picture looked encouraging as well. Sellers and buyers of homes in the Hamptons could witness more sales and slightly lower medium sale prices in most quarters of 2012. The total number of Hamptons home sales reached 1,517, a 14% increase over 2011.
More Transactions of $10M and Over Rocked the Market
With 23 properties of $10 million and over sold, this market segment grew by 44% in 2012!
Q2 2012 was a very active quarter for both entry level and luxury property sales with 12 uber-expensive properties ($10M and up) sold in this quarter only. This is only slightly less than the number of all luxury properties sold in 2011 in the $10M and up segment.
Activity spiked again in the fall as October saw 4 properties in this category finding a new owner.
The Top-10 Most Expensive Home Deals
A top ten compiled by our sister company Point2Homes shows that the most expensive Hamptons homes sold in 2012 had price tags ranging between $20 million and $28.5 million, faring better than 2011’s luxury home sales.
The priciest sale was made by billionaire Marc Rowan. His 12,636 sqft. oceanfront mansion at 322 Meadow Lane, Southampton raked in $28.5 million in February 2012.
Nevertheless, according to Curbed Hamptons, the title of Year’s Biggest Sale should go to a pair of properties at 54 and 58 Hwy. Behind the Pond, East Hampton. They were bought by the same individual in October for a whopping $45 million in combined price.
Check out the rest of the properties that made it into the top-10, via Point2Homes blog:
|Property address||Sale price||Sale date|
|322 Meadow Lane, Southampton||$28,500,000||02/17/2012|
|174 Further Lane, East Hampton||$28,000,000||03/23/2012|
|43 Surfside Drive, Southampton||$27,253,000||04/03/2012|
|30 Lee Avenue, East Hampton||$25,750,000||04/05/2012|
|58 Hwy-Behind-the-Pond, East Hampton||$25,000,000||10/11/2012|
|9 Five Rod Hwy, Wainscott||$25,000,000 (via Curbed; $6.413,000 via Point2Homes)||07/18/2012|
|171 Great Plains Road, Southampton||$24,000,000||04/05/2012|
|260 Jobs Lane, Bridgehampton||$23,150,000 (via Curbed)||10/03/2012|
|6 Gracie Lane, East Hampton||$20,000,000||02/17/2012|
|54 Hwy Behind-the-Pond, East Hampton||$20,000,000||10/11/2012|
The Top-10 Most Expensive Zip Codes in the Hamptons
Top of the list was 11962 (Sagaponack), also one of the nation’s top-ranking zip codes. The median home sale price in 11962 was still an amazing $3,850,000, although down from $4,500,000 in 2011.
Sagaponack has been for many years the place where celebrities like to summer. Among its current notable residents are business moguls Ira Rennert and David Tepper, and celebrities such as Jerry Seinfeld who bought Billy Joel’s house a couple of years back. The zip code is home to two of the most expensive streets in the Hamptons, Daniels Lane and Parsonage Lane.
Here is the entire list of the priciest zip codes in the Hamptons: