Prime 10 Priciest Streets within the Hamptons | PropertyShark
Key Takeaways:
- Quogue’s Dune Highway is the #1 most costly Hamptons avenue with an $11 million median sale worth
- The priciest sale of the ten most costly streets clocked in at $32 million
- Seven cities claimed the highest 10 priciest streets within the Hamptons
As the primary half of 2022 wrapped up amid a variety of financial shifts, the luxurious actual property market is displaying indicators of a cooldown. After two years of dynamic gross sales exercise pushed by pandemic-induced relocations as individuals flocked to extra remoted nation properties, the primary six months of 2022 paint a distinct image.
Financial volatility, rising rates of interest and surging inflation, in addition to the rebound of worldwide journey, are reshaping the Hamptons house gross sales market. These elements are possible indicators of a sluggish return to a extra normalized, pre-pandemic actual property panorama following two years of frenzied transactions and worth hikes that additional lifted Hamptons seashore communities amongst the most expensive U.S. zip codes.
Hamptons Median Sale Worth Exceeds $1.5 Million in First Half of 2022
Taking a better have a look at gross sales patterns and purchaser preferences, we centered in on communities within the Hamptons to see which streets commanded the best median sale worth between January and June 2022. To determine the ten priciest streets, we checked out all residential transactions closed within the first six months of this yr. For an correct illustration, we solely took into consideration streets with three or extra gross sales closed.
The Hamptons median sale worth reached $1.54 million within the first half of the yr, inching up simply 5% in comparison with the median sale worth within the first half of 2021 ($1.47 million). Nonetheless, the variety of gross sales registered from January via June of this yr fell by 48% in comparison with H1 2021. A complete of 894 transactions closed between January and June 2022 compared to the 1,715 offers recorded over the identical interval final yr.
Though the Hamptons’ priciest avenue reached a $15 million median sale price back in 2018, within the first half of 2022, the median sale costs of the ten priciest streets ranged between $2.5 million to $11 million. Equally to 2018, the ten priciest streets have been claimed by seven cities in 2022 as nicely, with Amagansett, East Hampton and Southampton returning to the highest 10. Nonetheless, Sagaponack, Montauk, Water Mill and Bridgehampton have been changed this yr with Quogue, Sag Harbor, West Hampton Dunes and Westhampton Beach.
The presence of Amagansett and Quogue was to be anticipated, contemplating each ranked among the many most costly zip codes in 2021, putting thirty seventh and thirty eighth nationwide.
Of the ten priciest streets, Southampton’s Hill Highway had essentially the most dynamic gross sales exercise, closing 12 transactions within the first half of the yr. It was adopted by three East Hampton streets with a complete of eight gross sales every and Dune Highway in Westhampton Seashore with six transactions recorded in H1 2022.
Median Sale Costs Keep North of $4 Million on the 5 Priciest Hamptons Streets
1. Dune Highway, Quogue
With an $11 million median sale worth, Dune Highway in Quogue was the #1 priciest avenue within the Hamptons in H1 2022. Of the three transactions that closed over the six-month interval, the most important was the $17.5 million sale of an oceanfront house at 232 Dune Rd. Dubbed an “ultra-high-end property,” the 8,300-square-foot house was lately accomplished on a 2-acre lot.
The gated property is ready again from the street for privateness and boasts 128 toes of ocean frontage and views of Shinnecock Bay. The final asking worth earlier than closing the sale of the seven-bedroom, seven full-bath house was $20.7 million.
2. Marine Boulevard, Amagansett
An $8.9 million median sale worth secured the #2 spot for Amagansett’s Marine Boulevard, which noticed three gross sales shut in H1 2022. The $9.5 million off-market sale of a 2,000-square-foot house at 51 Marine Blvd. was the highest-priced deal of the three.
Sitting on 0.67 acres — a small lot however of a typical measurement for the world — the property options 110 toes of ocean frontage and even boasts a pool on the roadside of the property. Mickey Drexler, former CEO of J. Crew and The Hole and the brand new proprietor of 51 Marine Blvd., is not any stranger to the Hamptons, having owned a number of properties within the space, starting from Westhampton to Montauk.
3. Bluff Highway, Amagansett
The second Amagansett avenue to safe a spot on our listing is Bluff Highway, which has seen a complete of 4 gross sales that introduced its median sale worth to $6.7 million. The priciest transaction on Bluff Highway in H1 2022 can also be the most costly deal in our high 10 and consisted of the $32 million off-market sale of 325 Bluff Rd., closed within the first quarter of the yr. Situated between Indian Wells and Atlantic Seashores, the oceanfront property is ready on 2.59 acres and beforehand traded for $7.9 million in 2012.
4. Bittersweet Lane, Sag Harbor
Totaling three gross sales within the first six months of the yr, Bittersweet Lane in Sag Harbor ranked #4 with a median sale worth of $5.4 million. The best-priced transaction on this Hamptons avenue was recorded within the second quarter: The waterfront property at 32 Bittersweet Ln. modified palms for $6 million in June.
Located on the top of a non-public street, the two,200-square-foot, two-story house sits on a 0.33-acre lot and options 4 bedrooms, two bogs and an outside pool. In 2021, the oceanfront asset was listed together with two different properties situated at 24 and 28 Bittersweet Ln., respectively. The bundle providing was listed at a $10 million asking worth on the time, however finally, 32 Bittersweet Ln. offered individually.
5. Dune Highway, West Hampton Dunes
The median sale worth on Dune Highway — this time in West Hampton Dunes — clocked in at $4.2 million. Of the 4 gross sales recorded between June and January 2022, the highest-priced deal on this Hamptons avenue commanded $5.8 million.
Bought in late March, the waterfront property at 777 Dune Rd. options seven bedrooms, six full bogs and one half-bathroom, in addition to a pool. Spanning 3,870 sq. toes, the post-modern house was in-built 2004 on a 0.65-acre lot.
Discover the desk under for the total listing of the ten most costly streets within the Hamptons:
Methodology
To find out the most costly streets within the Hamptons in H1 2022, we took into consideration streets with three or extra house gross sales closed between January and June 2022.
Bundle offers and gross sales below $10,000 have been excluded.
