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For the 75,000 permanent residents in the Hamptons real estate market, they are part of a unique community unlike any other. Families have access to wonderful public and private school systems, and as a seaside residential colony, enjoys a lifestyle that revolves around leisure and relaxation.
Living in the Hamptons year round is truly a special privilege, but the Hamptons real estate market is actually fueled by vacationers. Not only are a majority of homes used as second homes during weekends and especially the summer, but also the influx of tourists and visitors during the summer season makes for most of the town’s economic growth.
Because of the Hamptons’ status as an exclusive summer colony, one cannot apply the usual rules to the Hamptons real estate profile. While the population in the warm months is strong, the winter time is very quiet – so quiet in fact that many of the businesses shut down for several weeks. As you can imagine, there are ultimately fewer year-round residents than there are people who come here to invest in a second home. But even so, the market is one of the healthiest in the local area, and possibly the most expensive. The median price for a home is just under a million dollars, and the demand for homes remains high, even in a tough market climate.
You’ll want to ask about all of the Hamptons real estate properties when you begin your search, as you never know what may be perfect for you – a Hamptons beach front home, Hamptons luxury home, Hamptons ocean view home, or even Hamptons new construction are among the possibilities.
For more information about the Hamptons real estate possibilities, please contact Coldwell Banker’s Hamptons real estate team. Our professional agents are experts in the area and will prove invaluable in your search. |
