Making Sense of Hamptons Real Estate Sales Data

The number of South Fork home sales plummeted by around 50 percent in the fourth quarter of 2022, when compared to the same quarter a year earlier, but that data point hardly tells the whole story of what's happening in Hamptons real estate. Chronically low inventory of homes for sale is restricting the number of closed homes sales while also bolstering prices even as mortgage rates have doubled. And sales were bound to look low when compared to the peaks reached during the height of the pandemic-driven buying frenzy. To help interpret the data, Jonathan Miller of Miller Samuel Real Estate Appraisers & Consultants joins the editors on the podcast this week.