• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Republica Press

Your Business & Political News Source

REPUBLICA PRESS
Your Business & Political News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • SCIENCE/TECH
  • US
  • WORLD

How Real Estate Blew Up in the Hamptons and Greenwich

by

Real estate is booming almost everywhere amid the pandemic, but the gains in local housing markets are far from equal. Two wealthy New York City satellites, the Hamptons and Greenwich, Conn., are quickly outpacing their neighbors in sales volume — a development that isn’t as predictable as you might think.

“Since the pandemic lockdown ended, both markets have been on a tear, seeing record sales levels and price growth,” said Jonathan Miller, of Miller Samuel, the appraisal company.

In the first quarter of 2021, the number of property sales over $5 million in Greenwich increased 400 percent year over year, from five to 25; sales between $1 million and $5 million were up about 90 percent. In the Hamptons, the corresponding segments were up 24 percent and nearly 83 percent over a year.

up about 31 percent over a year in both Greenwich and the Hamptons in the first quarter of 2021 — could make these homes harder to sell a couple of years down the road if demand fades.

For weekly email updates on residential real estate news, sign up here. Follow us on Twitter: @nytrealestate.

View Source

Filed Under: REAL ESTATE

Primary Sidebar

More to See

US reels after massacre in fourth-grade classroom leaves 21 dead

America is absorbing the shock of another bloody mass shooting, a day after an 18-year-old man wearing body armour and carrying assault rifles entered … [Read More...] about US reels after massacre in fourth-grade classroom leaves 21 dead

Intercontinental Exchange Chair & CEO Jeffrey C. Sprecher to Present at the Bernstein 38th Annual Strategic Decisions Conference on June 1

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market … [Read More...] about Intercontinental Exchange Chair & CEO Jeffrey C. Sprecher to Present at the Bernstein 38th Annual Strategic Decisions Conference on June 1

Built in the 1930s for baseball’s Ty Cobb, this Tahoe estate is for sale for $12.8M

Once home to baseball Hall of Famer Ty Cobb, this estate rests on the eastern shores of Lake Tahoe. Now, 1472 Flowers Ave. is on the market asking … [Read More...] about Built in the 1930s for baseball’s Ty Cobb, this Tahoe estate is for sale for $12.8M

Copyright © 2022 · Republica Press · Log in · As an Amazon Associate we earn from qualifying purchases.

Terms and Conditions - Privacy Policy