If you want that dream beachfront Hamptons property, you better gear up for a fight.
“The majority of it is the lack of inventory,” Justin Agnello, a Douglas Elliman agent working in East Hampton, told Bloomberg. “But it’s also that if you do bring something to the market that’s really appealing, buyers are even more hungry for it.”
That drop is indicative of trends happening throughout the Hamptons real-estate market. Across all single-family homes and condos in the area, the median sales price was just $1.5 million, down 9.4 percent from last year. And closings, which numbered 259, declined 41 percent, according to Miller Samuel and Douglas Elliman.
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