Sales of Hamptons properties pressed higher
as prices fell short of prior year levels. Median
sales price slipped 1.3% to $908,500 and
average sales price declined 9.3% to $1,539,646
respectively from the prior year quarter.
However, median sales price and average sales
price year-to-date are 4.7% and 5.1% above the
same period last year respectively. The pace
of price growth is beginning to cool with the
modest expansion of inventory that is being
seen across most markets in the region. Listing
inventory increased 4.7% to 1,647 from the same
period last year…