By Square Foot, Sag Harbor Is No. 2 Most Expensive Home Market in Metro New York, PropertyShark Finds

In the Metro New York area, Sag Harbor ranks as the second most expensive residential real estate market when it comes to price per square foot, a PropertyShark study has found. Southampton was right behind, nipping at Sag Harbor’s heels.

PropertyShark, a real estate data provider, looked at the median sales price in 240 communities between August 2023 and August 2024 and determined that Sag Harbor’s $1,005 per square foot came second only to Manhattan’s $1,310 per square foot. PropertyShark reported the median price in the metro area is $441 per square foot, while, according to the Federal Reserve Bank, the median listing price nationally per square foot is just $228.

The median home size in Manhattan is 840 square feet, compared to 2,030 in Sag Harbor.

“Notably, we specifically analyzed the median sale price per square foot because this approach removes outliers and pricing anomalies, such as significantly over- or underpriced properties and very small dwellings,” the PropertyShark report states. “Furthermore, the median sale price per square foot gives sellers and buyers insights into typical asking prices in the market and allows for a more equal comparison of homes of different sizes.”

Southampton was third on the list, at $962 per square foot, immediately followed by Shelter Island at $943. Other East End enclaves in the top 10 were East Hampton, No. 8, at $787; and Westhampton Beach, No. 10, at $746.

The study included only locations where the annual median number of sales was at least 100 between 2020 and 2024, which explains the absence of other pricey East End communities from the rankings. Residence types included single-family homes, townhouses, condos and co-ops.