The Hamptons in 2024: A Cooling Market Still Defines Ultra-Luxury

2024 Market Snapshot: The Hamptons Holds Its Luxury Allure—Despite Price Drops

In 2024, the Hamptons reaffirmed its reputation as one of the world’s premier ultra-luxury real estate markets, even as the market took a notable step back from previous highs.

• Average sale price: $32.4 million
• Top sale: “La Dune,” sold at auction for $89 million
• Days on market (DOM): Average of 345 days
• Sale-to-list ratio: 81% of original asking price

The market has clearly cooled since its peak in 2021, which followed a meteoric 146% rise in prices from 2019. Compared to 2023, when the top property sold for $112.5 million after more than 1,000 days on market, this year’s results reflect a more cautious and deliberate buying environment.

The Iconic “La Dune” Auction

In one of the year’s most talked-about transactions, the storied “La Dune” estate was sold via Concierge Auctions. After 657 days on the market and a complicated ownership saga, the property finally fetched $89 million—still a marquee transaction, but emblematic of longer timelines and pricing recalibrations.

Market Insights

Even in a slower year, the Hamptons continues to command global attention. However, 2024 highlighted a reality often seen in rarefied markets: luxury doesn’t always move fast. On average, properties sold for 81% of their original list price—significantly below the 88% East Coast average.

Thinking of Selling in the Hamptons? Let’s Talk Strategy.

At Coldwell Banker Global Luxury, we specialize in marketing and selling iconic properties with precision and discretion.

If you’re considering selling your Hamptons estate, contact Eric Radecki Licensed Real Estate Salesperson in NY & CT Call 475-245-4205