Real Estate

A house just rented in the Hamptons for $2 million for the summer

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A home in the Hamptons rented for $2 million for the summer, as demand far outstrips a record low supply of homes for sale and for rent, according to brokers.

The number of homes listed for sale in the Hamptons plunged 41% in the first quarter, marking the fastest decline on record, according to a report from Douglas Elliman and Miller Samuel. The median sales price, which jumped 31% to $1.3 million, is now 20% higher than the median sales price in Manhattan.

“I’ve never seen the Hamptons market like this — ever,” said Gary DePersia, a top broker in the Hamptons for over 25 years. “As soon as a property comes up for rent or sale, it’s snatched up right away.”

While markets across the…



Source cnbc.com

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