- Despite a high interest rate environment, Hamptons-based real estate has shown remarkable resilience over the past year
- Median home sales prices in the Hamptons rose by 1.7% in 2023
- Mountain Top has partnered with On Site Builder Construction, a long-standing and reputed Hamptons-based developer to construct and market turnkey residential properties within the exclusive seaside enclave
Against a backdrop of slowing economic growth, rising interest rates and weak consumer sentiment, it comes as no surprise that the U.S. housing market was largely on hold in 2023. Residential transactions were forecast to have fallen by 37 percent in 2023, with commercial real estate suffering an even steeper decline in transaction volumes (https://ibn.fm/22gvk). Nonetheless and against that rather lackluster backdrop, one geography did stand out. Despite seeing a decline in year over year transaction volumes, median home sales prices across The Hamptons displayed remarkable resilience, rising by just under 2 percent in 2023 (https://ibn.fm/FsUzK).
The Hamptons has long been renowned for its high-end real estate market; notably, it was this very segment of the market which showed the most resilience over the past year. Despite seeing a 26 percent decline in year over year sales of individual properties, homes priced between…
NOTE TO INVESTORS: The latest news and updates relating to MTPP are available in the company’s newsroom at https://ibn.fm/MTPP
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com
InvestorWire is powered by IBN