In the Hamptons, sales between $10 million and $20 million increased 133% during the third quarter, according to a report Monday by real estate brokerage Town & Country Real Estate.
The Bridgehampton area led sales, staking claim to six of the seven home sales in the $10 million to $20 million price range: three in the enclave of Water Mill, two in Bridgehampton and one in the small neighborhood of Sagaponack, the report said. One sale was in Southampton Village.
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The report called it a "dazzling statistical fact" that "Bridgehampton accounted for over 26% of the total home sales volume for the entire region." The area was responsible for $158 million of the $596 million posted for the third quarter, according to the report.
East Hampton Village led in the very-expensive-sales department. There were two sales over $20 million in the Hamptons in the third quarter—no change from the third quarter of 2016—and both were in the area, the report said. There was a $29 million sale on Lily Pond Lane and a$25.925 million sale on Briar Patch Road, widely reported to have been purchased by celebrity power couple Beyonce and Jay-Z.
Despite the two sizable transactions, the last quarter hasn’t lived up to the second quarter, which saw total sales of over $100 million for properties above $20 million, according to the report.
East Hampton Village also reported the highest median home sales price at $4.437 million, less than last year’s $5.25 million but far above Bridgehampton—the neighborhood with the second highest median home sales price—at $2.71 million.
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The Sag Harbor area, meanwhile, saw its number of home sales tank by 29% while the total home sales volume fell nearly 60% to $31 million from $74.841 million at the same time last year. There were no sales priced over $5 million in the area.
All Hamptons markets combined saw an increase of 8% in total home sales, and an increase of 8.2% in total home sales price volume, according to the report.