The area around Mill Pond in the center of the hamlet sits at the heart of Water Mill's historical identity. The restored 1664 watermill and windmill are here, and the surrounding streets have a peaceful, village-like quality that feels removed from the bustle of the larger Hamptons communities. Water Mill houses for sale in and around the village core offer good value relative to the oceanfront, with well-finished homes commonly in the $2 million to $4 million range. It suits buyers who want a genuine sense of place and easy access to everyday life.