Hamptons home prices break records as Long Island prices continue to rise

The median price of a home in the Hamptons climbed more than 33% in the fourth quarter of 2025 compared with the same period a year before, reaching a record $2.3 million, amid a surge in high-priced home sales.

At the same time, the median price of a home on Long Island — excluding the ritzier East End — reached $739,000 in the fourth quarter of 2025, the second-highest price on record, according to a report released Thursday by real estate brokerage Douglas Elliman and the appraisal firm Miller Samuel. The report, which includes condos, details prices for homes in the Hamptons and North Fork separately.

A strong year on Wall Street helped spur more sales in the Hamptons, pushing up prices, said Jonathan Miller, CEO of Miller Samuel. The average bonus of a Wall Street employee rose to $244,700 in 2024, the most recent year data is available, according to the New York State comptroller. The comptroller’s office anticipated the bonus pool would grow again in 2025, as Wall Street profits rise, according to a 2025 report.

Wall Street buyers

"The Hamptons are joined by the hip with the securities industry in New York City," Miller said. "Probably the most significant reason [for higher prices] is that Wall Street has had another year in a row of record compensation and record profits — so far."

Ernie Cervi, regional senior vice president for the East End at Corcoran, said prices in the Hamptons could continue to grow, depending on Wall Street’s performance.

"When Wall Street bonuses are really good, we find that people come out and spend those bonuses out east," Cervi said. "There’s no way to tell whether it will go higher or not, but it seems to be going higher."

The Hamptons saw a record number of homes sell for higher prices. For example, 82 homes sold for $5 million or more in the fourth quarter — the highest number on record — and roughly 70% of homes in the ritzy enclave sold for $1 million or more, Miller said. That’s the largest share of Hamptons homes to sell for $1 million or more, he added.

Meanwhile, the North Fork saw the median sales price drop slightly, by 1.3% to $987,000 in the fourth quarter of last year when compared with the fourth quarter of 2024, according to the Elliman report. At the same time, sales surged, jumping 18.6% to 166 deals when compared with the fourth quarter of 2024.

Those trends indicate a number of more modestly priced properties traded hands in the fourth quarter, Miller said. Todd Bourgard, CEO of the Long Island, Hamptons and North Fork regions for Douglas Elliman, said it’s likely some sellers decided it was time to cash out.

"I think a lot of people that have owned homes out there for many years decided this was the perfect time to capitalize on their investment," Bourgard said.

Islandwide price hike

On the rest of Long Island, home prices also increased, just not as much as the Hamptons. The median price of a home on Long Island, excluding the East End, rose by 5.6% to $739,000 in the fourth quarter when compared with the same quarter in 2024.

Those rising prices aren’t surprising to real estate brokers. Larry Theodore, a licensed broker associate at Coldwell Banker American Homes, said he listed a house for $899,000 in Farmingdale in the fourth quarter of last year, and within a week he had 30 offers on the house, selling it for $990,000.

"Buyers just jump out of the woodwork and they go for it," Theodore said.

The market is similarly competitive in Rockville Centre, said Liz Byrne, a broker and owner at Harms Real Estate in Rockville Centre.

"The inventory continues to remain tight and our buyer pool is pretty deep," Byrne said. "It’s still a seller’s market."

Still, there are some signs that buyers had a slightly easier time in the fourth quarter. Roughly 53% of homes sold for prices higher than their last asking price in the fourth quarter, a drop from the record-breaking 60.5% of homes that sold over asking in the third quarter of 2025, Miller said.

The number of sales rose slightly, just 0.9% in the fourth quarter, when compared with the same period last year, according to the Elliman report. At the same time, the number of homes for sale rose by 3.6% to 3,351 at the end of the fourth quarter, compared with the same quarter of 2024.

Those slight upticks indicate moderately lower mortgage rates may be encouraging sellers to list their homes, even if they’re sitting on a loan with a lower rate, Miller said. The 30-year fixed-rate mortgage averaged around 6.15% the week ending Dec. 31, and has since declined further, to 6.09%, according to data from Freddie Mac.