By Marcelle Sussman Fischler
The high-flying Hamptons real estate market continues to soar.
More than a year after the Covid-19 pandemic began, demand for homes remains robust in the moneyed Hamptons, boosted by a swell of urbanites settling in.
In search of less density and more space, beginning last March, many city dwellers snapped up relatively reasonable off-season rentals in the beachfront towns and manicured villages on the East End of Long Island.
As the pandemic dragged on, many decided to buy a home instead of spending as much as a couple hundred thousand dollars on a summer rental. Enabled by low interest rates and Zoom technology that has made working remotely possible, some enrolled their children in local public and private schools, and helped transform the affluent weekend and summer getaway into a year-round community.
1384 Meadow Lane
UPDATED, May 14, 2021, 6:45 p.m.: Home sellers’ usual strategy is to list in the spring, when buyers are most active. But Hamptons buyers could hardly be more active than they have been in recent months. Jonathan Miller, president of appraisal firm Miller Samuel, gave
The Real Deal a rundown of the 20 most expensive South Fork deals to close through April 30, 2021.
Topping the list of most expensive home sales is this East Hampton deal that closed in March, according to Miller Samuel. The property sits on nearly eight acres and the home a gross floor area of 15,421 square feet. The residence belonged to Life Savers heiress June Noble Smith Larkin Gibson before she died at age 98 last year. The six-bedroom, five-bathroom home was listed for $72 million in August 2020 and reduced to $67 million two weeks later. Brown Harris Stevens’ Peter Turino and Christopher Burnside were the listing agents.
One house in the Hamptons rented for $2 million this summer, according to CNBC.
Summer rentals in the US are going fast as more people look to travel in the country because of the pandemic.
The housing shortage is making it more difficult than ever to find rental homes.
A house in the Hamptons rented for $2 million for the summer, according to a report from CNBC.
A broker told CNBC the rental was done discreetly, without an official listing, but it s not the only sky-high summer rental property.
Summer rental homes are going fast this year, and are costing more money, as the COVID-19 vaccination rate picks up and more people look to travel as the pandemic wanes.