Hamptons Home Sales Surge as Wall Street Fuels Price Gain

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Home sales in New York’s Hamptons, the beach retreat for financiers and celebrities, surged in the first quarter as stock-market gains and fatter Wall Street bonuses fueled demand for luxury properties.

Sales soared 52 percent from a year earlier to 528 transactions, according to a report today by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. The median price rose 19 percent to $880,000. Thirty-seven homes sold for $5 million or more, up from eight at the start of 2013.