Hamptons fall in the rankings of the most expensive U.S. zip codes

Nine areas on Long Island have been among the 100 most expensive places to buy housing in the U.S. this year, but more areas of the Hamptons are ranked lower than they had previously, according to. Postcode-based data published this week by PropertyShark, which offers homebuyers and real estate agents access to property registers.

Sagaponack, the village of Southampton, had the highest prices on Long Island, ranking No. 3 nationwide with an average selling price of $ 5 million this year through October 22nd. It slipped from second place, where it had been for three years in a row, although the average house price in the village rose by almost a third in the past year.

The most expensive places to buy a home were Atherton, California, in the San Francisco Bay Area, with an average selling price of nearly $ 7.5 million, and Boston’s Back Bay neighborhood, where prices reached $ 5.5 million.

Six other zip codes on South Fork came on the list: the No. 13 watermill with a median price of nearly $ 3.75 million; No. 31 Bridgehampton to about $ 2.96 million; No. 34 Wainscott to $ 2.75 million; No. 37 Amagansett for nearly $ 2.65 million; No. 38 Quogue for about $ 2.59 million; and No. 69 Case Harbor for $ 1.9 million.

In Nassau, Old Westbury, ranked No. 62, with a median price of $ 1.95 million, and Manhasset was No. 96 with a median price of nearly $ 1.65 million. Mill Neck, on the island’s north coast, fell off the list after appearing in 2020.

Despite areas such as Bridgehampton and Wainscott slipping down the list, from No. 7 and No. 17 respectively in 2020, the Hamptons market has continued to see prices rise. The average house price across the Hamptons was $ 1.3 million in the third quarter, which was 8.3% higher than in the same period a year earlier, according to data from real estate firm Douglas Elliman and appraisal firm Miller Samuel. That price is more than 50% higher than the median in the same period two years ago.

There was a first rush to buy ready-to-move-in homes when the pandemic first hit, said Joseph De Sane, a real estate agent and CEO of Bespoke Real Estate in Water Mill, which specializes in listings of $ 10 million or more. When the supply of these homes was exhausted, buyers sought out properties that needed renovation or vacant land for residential construction. The pace of sales has largely prevented the supply of housing from returning to normal levels, De Sane said.

“I thought we would now start to see a retreat, and that has not been the case, mainly due to having so much accumulated demand for properties,” he said.

Bespoke was the listing agency for $ 105 million sale in October of a 12-bedroom, 20,000-square-foot, 42-acre house in Water Mill, which had been built by Henry Ford’s grandson. The final bid price for the property had been $ 145 million.

Expensive homes tend to take longer to sell, but average time on the market fell more than 40% to 96 days in the third quarter, according to the report by Douglas Elliman and Miller Samuel.

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