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Friday, April 23, 2010

New hope shines for home sales in Hamptons

It is a returning phase for New York's big-buck buyers as they retreat to Long Island's seashore getaway.

According to a report released by Prudential Douglas Elliman Real Estate the first-quarter home sales in the Hamptons were up 173 percent over the first quarter of 2009 and median sales prices rose 35 percent to $908,500 compared to the same time period last year. The report was released on Thursday.

Prudential Douglas Elliman said prices were higher closer to the Atlantic, rising 86 percent for homes south of Montauk Highway. This would run east west a few blocks from the shoreline.

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