East End home sales decline in the third quarter

As the rest of Long Island’s housing market saw a recent increase inhome sales, fewer houses were sold on the East End in the thirdquarter of the year than the same period in 2023.

In the Hamptons, third-quarter home sales fell by 25 percent year over year, according to a report from Town & Country Real Estate. There were 389 home salesin Q3 2024 compared with 518 third-quarter sales the previous year.

While sales were down compared with a year ago, prices were up. The median price of closed home sales in the Hamptons was $2.16 million in the third quarter, that’s an increase of nearly 16.3 percent from the $1.86 million median price recorded in Q3 2023.

Most of the Hamptons homes sold in the third quarter (208) had prices ranging from $1 million to $3.49 million, which represented a 30 percent drop from the 294 homes that sold in that price range in the third quarter of last year.

The number of home sales were also down on the North Fork. There were 112 homes sold on the North Fork in the third quarter, a drop of 13.8 percent from the 130 homes sold in Q3 2023, according to the T&C report.

However, unlike the Hamptons, home prices on the North Fork dipped slightly in the third quarter. The median price of homes sold in Q3 2024 was $937,750, about 1.3 percent lower than the $950,000 median price recorded in the third quarter last year.

Most of the homes sold on the North Fork in the third quarter (96) had prices ranging from $500,000 to $1.99 million. That’s a drop of 14.3 percent from the 112 homes that sold in that same price range in Q3 2023.

Town & Country includes the following communities in its Hamptons statistics: Sag Harbor, Shelter Island, Southampton, Amagansett, Bridgehampton, Water Mill, Sagaponack, East Hampton, Wainscott, Montauk, Westhampton, Westhampton Beach, Remsenburg, East Quogue, Quogue and Hampton Bays.

The North Fork report covers Mattituck, Laurel, Cutchogue, Southold, New Suffolk, Peconic, Orient, East Marion, Greenport, Jamesport, South Jamesport, Aquebogue and Baiting Hollow.

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