Home sales in the Hamptons, the beachside resort towns favored by celebrities and Wall Street financiers, more than doubled in the first half of 2010 from a year earlier, according to recent reports.
Sales in 15 New York villages and hamlets that make up the Hamptons rose to 923 homes from 433. The dollar volume of all transactions more than doubled to $1.5 billion, while the median price of homes sold climbed 34% to $935,000.
Wall Street hiring and bonuses sparked confidence in would-be buyers. New York’s financial companies added 6,800 jobs from the end of February through May, the largest three-month increase since 2008. The industry’s year-end bonuses gained an estimated 17% to $20.3 billion in 2009, according to the state comptroller.
Both the Hamptons and North Fork of Long Island rose 9.3% in the second quarter to 7,963, Included in the reports were single-family home sales as well as sales of condominiums. Another indicator that the high end of real estate is recovering.