Rich New Yorkers flee to Hamptons, sparking $1 billion real estate boom

Throngs of wealthy New Yorkers who fled the city for the Hamptons during the COVID-19 lockdown and violent protests have decided to stay out East — and are fueling a massive real estate boom. In just three short months — from July to September — almost $1 billion worth of property was snapped up in the Hamptons, according to a new market report by Brown Harris Stevens.

There were 448 single-family home sales in the Hamptons during the third quarter of 2020, which is up 51% from the same time last year, according to the report.
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