Home prices in the Hamptons, the Long Island beachside getaway for Wall Street financiers and celebrities, rose 4.7% in the third quarter amid a surge in sales of properties from $2m to $5m.

The median price increased to $900,000 from $860,000 a year earlier, according to Town & Country Real Estate. The number of sales in the $2m-plus category rose 44% to 46 transactions in the period.