East Hampton appreciation rates and housing market information
East Hampton housing market information
With 1,087 people, 533 houses or apartments, and a median cost of homes of $941,000, East Hampton house prices are not only among the most expensive in New York, East Hampton real estate also is some of the most expensive in all of America.
East Hampton is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in East Hampton than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in East Hampton. Owner-occupied housing accounts for 82.02% of East Hampton's homes, and 57.76% have either three or four bedrooms, which is average sized relative to America.
The housing in East Hampton was primarily built before 1939 (37.56%), making the housing stock in East Hampton some of the oldest overall in America, although there is a range of ages of homes in East Hampton. The next most important housing age is between 1940-1969 (30.38%), followed by between 1970-1999 (25.15%). There's also some housing in East Hampton built between 2000 and later (6.91%).
A decent proportion of the East Hampton housing stock is seasonally occupied. That is, homes and condos in East Hampton are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the East Hampton housing market speaks to its popularity as a vacation location of choice.
East Hampton home appreciation rates
In the last 10 years, East Hampton has experienced some of the highest home appreciation rates of any community in the nation. East Hampton real estate appreciated 115.81% over the last ten years, which is an average annual home appreciation rate of 8.00%, putting East Hampton in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, East Hampton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in East Hampton that despite a nationwide downturn in the housing market, East Hampton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Hampton appreciation rates continue to be some of the highest in America, at 10.51%, which is higher than appreciation rates in 94.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Hampton. East Hampton appreciation rates in the latest quarter were at 2.86%, which equates to an annual appreciation rate of 11.93%.
Importantly, this makes East Hampton one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to New York, our data show that East Hampton's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.