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Hamptons home prices surge to record highs thanks to Wall Street and shrinking supply: ‘No end in sight’
It now costs more than ever to own a home in the tony Hamptons — with the average price hitting a mind-boggling $4.5 million thanks to the rising stock market and shrinking housing supply, new data show.
The whopping new average represents a surge of 34% over last year and the second year in a row that the figure exceeded the $4 million threshold, according to a review by New York appraiser Jonathan Miller.
“Price growth is being driven in part by stronger activity at the high end, where luxury prices are rising faster and inventory is even tighter,” Miller said.
Wannabe homeowners in the celeb-fave Long Island enclave can’t even touch a local property now for under $1.5 million, according to the figures.
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