Barrons’ Twenty Best Places to Buy a Second Home: The Hamptons

The Hamptons Real EstateFor second homes in America’s most affluent locations, the past year was ugly. No way else to describe it. Median home prices were down 50% in North Lake Tahoe, and 44% on Martha’s Vineyard, to cite two examples.

For second homes in America’s most affluent locations, the past year was ugly. No way else to describe it. Median home prices were down 50% in North Lake Tahoe, and 44% on Martha’s Vineyard, to cite two examples.

Last year was brutal for second homes in the nation’s most affluent areas. But the market is firming up again. Here’s our list, expanded to 20 sites, for those seeking top-tier refuges.

1. HAMPTONS, NEW YORK: New money calls these Long Island beach towns the Hamptons, while old money calls them the East End. We would call them a relative bargain if you are in the market for a $1 million to $2 million home, without water view, found north of Montauk Highway. Business is less brisk south of the highway, where houses facing the water usually range from $2 million to $10 million.

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