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…