Pursuits
Hamptons Home Prices Reach Seven-Year High in Luxury Surge
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Home prices in New York’s Hamptons jumped to a seven-year high in the fourth quarter, with sales of more than $1 million surging as wealthy buyers bolster demand for vacation properties in the resort towns.
The median price of all homes sold in the quarter was $975,000, a 27 percent increase from a year earlier and the highest since 2007, according to report Thursday by brokerage Douglas Elliman Real Estate and appraiser Miller Samuel Inc. The number of transactions jumped 48 percent to 734.