BHSID 919463 Message from Robert M. Nelson Executive Managing Director Brown Harris Stevens of the Hamptons, LLC 1Q2025 MARKET REVIEW The Hamptons market experienced a 33% rise in the number of closings in the first quarter compared to a year ago. Prices were also higher, as the average single-family home price of $3,401,640 was 5% higher than a year ago. With increases in both the number of sales and average price in the Hamptons, it’s not surprising the total dollar volume of transactions was 39% higher than 2024’s first quarter. Demand for Hamptons homes in 1Q25 was helped by the performance of Wall Street, as the S&P 500 index rose 23% in 2024. The exceptional performance of stocks led Wall Street firms to pay a record $47.5 billion in bonuses for 2024. While the North Fork didn’t see similar increases in prices and sales, pricing didn’t change much from a year ago. At $1,165,158, the average price in the first quarter of 2025 was virtually unchanged from a year ago, while closings dipped 3%. It’s too early to tell how the current trade war will impact demand for housing in the Hamptons and North Fork. It’s never a good thing when markets are too volatile, but it can offer an opportunity for buyers to negotiate more with sellers.
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