Westhampton Beach Real Estate Market Prices, Trends and Forecast 2024

Westhampton Beach Real Estate Market Prices, Trends and Forecast 2024

Historic and scenic, Westhampton Beach is a community in Suffolk County that demands attention. A popular vacation destination, Westhampton Beach is also a prime location for second homes and luxury condos. City-dwellers come when they want to enjoy easy access to the beach and an air of peaceful seclusion. Westhampton Beach offers the best of both worlds, with the relatively modest population size and friendly atmosphere denoting the best of small-town living. Still, the luxurious amenities speak to a sense of opulence that imbues the community.

The Westhampton Beach community is known for its hot real estate market. With celebrities and high-powered business executives clamoring for a place in one of New York's most exclusive communities, buying or selling property in the area can be extremely competitive. Buyers can expect bidding wars over many upscale properties, while sellers could receive multiple hours within hours of putting a home on the market. However, the Westhampton and Westhampton Beach real estate market is always evolving, with data revealing an exciting look at what could lie ahead for 2024.

Westhampton Beach is a private, exclusive community

Incorporated in the 1920s, Westhampton Beach is a coastal community with miles of shoreline. Most residents of the area head here on weekends to unwind and enjoy the sounds of the surf as they recharge for a busy week ahead. However, there are several thousand permanent residents in Westhampton Beach who also own local businesses.

Westhampton Beach is a popular vacation destination. Its proximity to Long Island and Montauk means that many tourists visit the community annually, soaking in some of the coastal ambiance and beautiful views for themselves. There aren't many large-scale attractions within Westhampton Beach proper, but a short drive to Long Island opens up a world of possibilities for those who love museums, art galleries, and upscale boutiques. Residents of Westhampton Beach love the area's quiet air of exclusivity and delight in the variety of outdoor recreation opportunities, including boating, swimming, and surfing.

Architecture and home designs in Westhampton Beach

Westhampton Beach is a coastal community with an abundance of beach villas and luxury waterfront mansions. Many of Westhampton Beach's most stunning homes offer direct beach access via private walkways. These homes feature large outdoor living spaces, including wraparound porches and private pools, complete with waterfall features and ornate stone detailing. Upon entering, the serene ocean-inspired colors and decor elements immediately induce a feeling of relaxation.

There are also many Victorian-style properties in Westhampton Beach's subdivisions, with striking styling and relaxing colors, including deep blues and soft greens. Westhampton Beach offers homes with expansive yards and plenty of space, ideal for families with young children or anyone who loves gardening and plant maintenance. With the influx of vacationers to the area, a slew of modern townhomes and rental properties went up several years ago, lending even more variety to Westhampton Beach's real estate landscape.

Home prices in Westhampton Beach

House prices in New York tend to be slightly above the national average. According to 2022 data from the U.S. Census Bureau, the average cost of a home in New York is $340,600. Homes in Westhampton Beach are typically higher than this due to the exclusive nature of the community and its status as a celebrity retreat.

If you're looking to buy property in Westhampton Beach, expect to spend anywhere between $500,000 and $3 million or more, depending on the type of home (single-family, condo, etc.) and amenities included and the precise location. Waterfront properties are far and away the most expensive, with many of these lavish homes priced in the millions.

2024 real estate market predictions

Real estate in New York has been on a roller coaster since 2020, when COVID-19 changed every industry. During 2020, people across the United States rushed to move out of populated areas and into smaller suburban towns or even the countryside, where they could enjoy more wide open spaces. However, New York proved to be a bit of an outlier. According to a 2021 New York Times article with home sales plummeting and many real estate analysts predicting that New York City would be struggling for months.

Beginning in late 2021, sales started to turn around, with prices surpassing pre-pandemic prices. These days, the real estate market is hotter than ever, with buyers scrambling to score high-end properties in all the most exclusive areas. One thing has remained constant since the days of COVID-19, however. Many buyers are interested in buying homes in rural communities like Westhampton Beach and are excited about the wealth of residential amenities.

How did COVID-19 affect the Westhampton Beach real estate market?

Westhampton Beach became a landing pad for many people during the early days of the COVID-19 pandemic. Those who had second homes in the area already relocated to Westhampton Beach for a longer duration, taking the opportunity to escape the close confines of the city. New visitors discovered Westhampton and Westhampton Beach as well, and it became an even more popular residential haven.

Is now a good time to invest in Westhampton Beach real estate?

With the real estate market continuing to heat up and competition as strong as ever, now is an excellent time to invest in Westhampton Beach real estate. Whether you're interested in purchasing a beachfront mansion or buying a stately Victorian on the quietest street in town, with almost any investment in the area, you're sure to see an excellent profit.

Before you move to invest in a Westhampton Beach home, it's best to consult with a local real estate agent. A realtor can work with you to help you better understand current market conditions and home prices. This will assist you in developing an overall plan for your investment so you can be sure to make the most profit and have an enjoyable experience. Your realtor can also act as your advocate during the process of buying the investment property, so you can be confident in your position going into the journey.

Get real estate insights and assistance from Westhampton Beach realtors Thomas Stoebe & Gloria Scrocco

If looking to invest in the Westhampton Beach real estate market or find your dream home in the heart of Westhampton Beach, you'll need a dedicated resource on your side. Stoebe & Co. Real Estate is a top luxury real estate agent in New York, with experience buying and selling upscale properties from from Montauk to Manhattan.

Working with Thomas and Gloria can make all the difference in your real estate journey, ensuring that you get the best deal and gain the hyper-focused local insights you need to succeed. Contact Stoebe & Co. today to learn more about how he can help you in your real estate journey!

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