The stretch of Water Mill south of Montauk Highway is where the hamlet's most valuable Water Mill houses for sale are concentrated. Flying Point Road runs along the oceanfront and is widely considered one of the top addresses in all of Southampton Town. Oceanfront parcels here have traded above $22 million for raw land alone. Finished estates with ocean views, private pools, and direct beach access regularly command $10 million to $20 million and above. This is estate-level buying, and the demand rarely softens.