Two weeks ago we observed President’s Day weekend which is the weekend that starts the summer rental season in the Hamptons.
After a long and miserable winter and bonuses on Wall Street, people are thinking “The Hamptons” early.
The summer rental market attracts people who want to spend their disposable income. And with the Hamptons sales market being so strong, the summer market leaves less available inventory.
Even in this economy, a great deal more of renters are flocking to New York’s summer fun town. And many got a head start on the holiday weekend.
These rentals which run from Memorial Day to Labor Day can run $100,000 and more for the season.
You can get a lovely 4 bedroom home off the highway in Bridgehampton for roughly $50,000 to $60,000. Homes on the ocean can rent from $750,000 to $1 million. Most deals happen in the $70,000 range.”
Some people are renting short-term rentals for just a month. But even for a month, these rentals don’t come cheap.
Word from Hampton’s colleagues is that it’s so busy out there, that there are bidding wars on these summer rentals.
Word to the wise … if you see something and you love it … MAKE AN OFFER immediately!
For more information or a consultation feel free to email me at Halstead Property
SUBSCRIBE above to receive email alerts about NYC Real Estate
Click here to read more of Ross’ real estate articles
Twitter me http://twitter.com/NY_RealEstate
Visit my Website and blogs at New York City Real Estate News and Active Rain
Ross Ellis is a proud member of the Real Estate Board of New York
Ross Ellis is also the Examiner for:
NY Parenting Issues
National Cyber Safety
NY Domestic Violence and Abuse
NY Real Estate
Comments