When Covid stopped the world last year, the real estate market was bound to suffer. However, the opposite happened. Many people abandoned the cities and moved to more spread out communities, and The Hamptons became even more desirable.
While the housing market in The Hamptons has always been expensive, this last year has really outpaced the past. The median sales price rose nearly 40%, to $1.2 million per home in 2020. This catapults the Hamptons above Manhattan in median sales prices. Will this increase last?