It now costs more than ever to own a home in the tony Hamptons — with the average price hitting a mind-boggling $4.5 million thanks to the rising stock market and shrinking housing supply, new data show.
The whopping new average represents a surge of 34% over last year and the second year in a row that the figure exceeded the $4 million threshold, according to a review by New York appraiser Jonathan Miller.
“Price growth is being driven in part by stronger activity at the high end, where luxury prices are rising faster and inventory is even tighter,” Miller said.
Wannabe homeowners in the celeb-fave Long Island enclave can’t even touch a local property now for under $1.5 million, according to the figures.
“Long Island home prices hit new highs as low inventory continues to limit sales,” Miller explained. “Even with a small increase in listings, supply remains far below normal, keeping competition strong as more than half of homes sold above asking price.
“Overall, the market remains constrained, with fewer sales but continued upward pressure on prices — there is no end in sight.”
The median home price in the region, one of the country’s priciest markets, meanwhile jumped more than 18% from just last year to land at right under $2.5 million — the third record in five quarters, Miller said.
By comparison, the median home price for the rest of Long Island rose 5% from the previous record set last year, increasing from $750,000 to more than $761,000, the report said.
Its overall average home sales price also rose by 7.8%, to nearly $922,000, yet another record.
At least partly fueling the particularly striking rise in luxury-home prices were the bonuses doled out on Wall Street.
The bonuses’ average hit a record of nearly $247,000 per employee — roughly 9% higher than 2024 — as Wall Street profits jumped more than 30% to over $65.1 billion in 2025, according to New York State Comptroller Thomas DiNapoli.
As a result, buyers at the top are increasingly leaning on their stock portfolios and Wall Street payouts to afford their homes, rather than traditional mortgages to close out the deals, according to the data.
“The elevated share of bidding wars and tighter marketing times reinforces the idea that this is not a thin, speculative market, but one driven by high-end buyers drawn to the East End,” Miller’s report said.
In the Hamptons, the share of home sales above $5 million was the highest on record last quarter, the report said.
More than one out of every two homes sold on Long Island last quarter ended up going above the seller’s asking price, just below the record reached a year ago, the report detailed.
