High Rollers Resort To The Hamptons
Who would have thought that with a COVID-19 shutdown in NYC, residents would flock to the Hamptons as if it was fourth of July weekend?!
Makes sense, right? Short term rental searches are up 33% compared to March of last year. Typically, vacationers don't start renting until after Memorial Day...
Founder of popular New York brokerage Nestseekers, Eddie Shapiro, reported he got a call from someone willing to spend up to $250,000 to stay just two or three short months in a rental.
Obviously there is a natural movement from NYC to the Hamptons because lots of residents have summer homes in the Hamptons. Because of the shutdown and mass amount of COVID-19 cases in the city, people want to get out.
I believe this is just the beginning of the movement that we will see with NYC residents. People are getting nervous about how long the quarantine will last there compared to other cities and states.
Source: NAR