Faith in the market set off a big buying spree at the end of 2013, and that enthusiasm has ridden the wave into the new year. According to the research firm Long Island Real Estate Report, the Town of Southampton had a record-setting fourth quarter in 2013, with $904.5 million in sales. Further, according to Corcoran Group Real Estate, Southampton Village tallied $244 million from 45 sales during the first quarter of 2014, a 70 percent increase over the $143 million from 28 sales during the same period in 2013. Tim Davis, Corcoran’s East End record-leader for 2013 (he sold Vince and Louise Camuto’s Wooldon Manor for $75 million), reports that the market has been active at all levels, not just the high end. “Numerous transactions have gone into contract,” he says, “and our inventory is quickly being depleted. Vacant land is also hard to come by, so people are looking at properties to redevelop.”
Featuring Tim Davis’ Woolden Manor sale and listing at 16 Gin Lane, Southampton:
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