Market Overview
Sales: 7 transactions, a 22% decrease year-over-year (Y/Y).
New Listings: 11 properties, consistent with October 2023 levels.
Inventory: 19 active listings, up 27% from the previous year.
Months of Supply: 2.71 months, indicating a slightly tilted buyer’s market.
Pricing
Benchmark Price: $905,500, reflecting a 6.3% Y/Y increase.
Median Price: $900,000, up 11.1% Y/Y.
Average Price: $938,786, an 8.1% increase Y/Y.
Property Types
Detached Homes: Benchmark price at $977,600, a modest 2.2% Y/Y rise.
Row Houses: Benchmark price at $503,500, up 8.2% Y/Y.
Semi-Detached Homes & Apartments: No benchmark price recorded for October.
Market Trends
Gradual price increases signal sustained demand despite declining sales.
Inventory growth presents opportunities for buyers while moderating seller leverage.
The sales-to-new-listings ratio at 0.64 reflects steady but balanced market activity.
Summary
The Hamptons real estate market in October 2024 showed resilience with notable price growth across most segments despite a decline in sales volume. The increased inventory offers choices for buyers, making it a strategic time for negotiations in this premium community.
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