Although the luxury real estate market enjoyed a particularly fruitful year last year with a record breaking number of home sales, 2015 is proving to be a whole different ball game.
In the Hamptons, in particular, both sales and median prices are down compared to where they stood during this time last year.
According to a new report by Douglas Elliman Real Estate, the median sale price for a home in the Hamptons has dropped 6.5 percent over the last year to $849,000, while the number of homes sold is down 15.7 percent.
Image via flickr/Taber Andrew Bain
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