NeighborhoodX just released its Hamptons Neighborhood Pricing Report for June 2017.
The study looks at market-rate properties in neighborhoods across the Hamptons. As a result, on the lower end of the price range, the analysis excludes foreclosures and short sales, as well as properties primarily positioned as development sites. On the upper end, the analysis excludes certain outlier listings (e.g. such as those where a property is conveyed with additional developable parcels of land which would skew the apparent value of the existing built square footage higher) as well as certain listings with incomplete or contradictory information.
In order to provide a basis for granular comparison across sections of the Hamptons, the report uses price per square foot rather than median listing price," said Constantine A. Valhouli, Director of Research for NeighborhoodX.
Using only median listing price, readers may infer the wrong message about relative values, especially if one area has larger or smaller properties compared to another one.
With this in mind, the overall price range for the areas in this analysis (which does not include every section of the Hamptons) is $152-2,189 per square foot.
"On one end of the price range, this represents the lowest-priced market-rate property in Riverhead that was not a development site, or in need of significant rehabilitation," said Valhouli. "At the other end, it represented the most expensive property for sale in Quogue."
It is worth noting that the analysis excluded a number of estate properties sitting on very large parcels of land, as well as several waterfront properties that have been listed for a year or more (suggesting that the asking prices aren't aligned with the market, and as such should be regarded as outliers).
Readers can mouse over individual chart bars for further information.
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