The Hamptons Factor

Some of us dream of it; some of us live it. Owning property in the Hamptons is something that doesn’t only signify status, it indicates style. The all encompassing mystic that is the Hamptons appears to be on the rebound as its residential market is reportedly way up.

In part due to lower prices and reduced inventory, CEO of the Corcoran Group, Pamela Liebman, says the Hamptons residential market is way up.

“Consumer sentiment in the region has improved,” says Liebman. Recent market reports coming out of the luxurious region have shown a significant increase in activity, with the number of third quarter sales this year hitting 459, specifically in the Hamptons and North Fork areas. That is a  29.3 percent increase from the same time period last year.

Liebman adds, “I think that for some people they feel that the prices there have really come down substantially and now might be a good time to step in.” Let the rebound begin!

Via: The Real Deal