The Hamptons is comprised of the Town of Southampton, which runs East from Eastport to Wainscott, and the Town of East Hampton, which runs from Wainscott to the famous fishing village of Montauk and Shelter Island, which sits north of Sag Harbor and North Haven. The year-round population of Southampton is 54,712 and the year-round population of East Hampton is 19,719. The entire area was originally settled in the 17th century as a fishing and farming community. As the railroads were built and it became accessible, The Hamptons began to attract wealthy vacationers because of the spectacular beauty of the beaches and countryside and because of its proximity to New York City. Later on artists settled into the small villages, drawn by the unusual light from the flat grasslands as they reflected off the ocean. Writers joined them and it became well known as a haven for the arts during the fifties and sixties, and was home to some of the most celebrated abstract expressionist painters. Presently, it is known worldwide as one of the most famous second home communities.
The communities of the Hamptons are diverse, encompassing oceanfront estates, small villages, working farms, fishing villages, vineyards, stables and classic Main Streets that bustle with shops and restaurants.
The value of property has been on a steady rise up 2% in 2006/2007 as compared to the national Market, which shows an 11.1% decline. Interest rates and the strong draw to the Hamptons lifestyle kept the east end real estate market competitive.