Q1 | 2017
The Hamptons
Market Update
SAGAPONACK
sothebyshomes.com/0047543 Offered at $13,995,000
SAGAPONACK SOUTH
Offered at $9,950,000 sothebyshomes.com/0038514
a message from
Ed Reale & Nanette Hansen The Hamptons Brokerage Managers
In the first quarter of 2017, the average sales price of Hamptons real estate dipped 4% year over year according to data compiled in the Long Island Real Estate Report. In the overall Hamptons market, total units sold decreased 21% from 359 units sold in first quarter of 2016 to 284 sales in the first quarter of 2017. As a result, total dollar volume was 24% lower, falling to $624 million from $819 million. No matter the state of the market, Sotheby’s International Realty Hamptons brokerages are uniquely well positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 69 countries and territories, here in the Hamptons we operate four local offices located in Southampton, Bridgehampton, East Hampton and Sag Harbor. Sotheby’s International Realty - Hamptons has approximately 110 affiliated agents who are seasoned experts in local real estate laws, zoning, building and rental codes. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior, white glove service. We would be pleased to assist you in either buying or selling your dream home or locking in a vacation to remember in the Hamptons.
BRIDGEHAMPTON & SOUTHAMPTON BROKERAGES
Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 2446 Main Street | Bridgehampton, NY 11932 | 631.537.6000 50 Nugent Street | Southampton, NY 11968 | 631.283.0600 SAG HARBOR & EAST HAMPTON BROKERAGES
Nanette Hansen, Brokerage Manager 35 Main Street | Sag Harbor, NY 11963 | 631.725.6000 6 Main Street | East Hampton, NY 11937 | 631.324.6000 sothebyshomes.com/hamptons
All data in this report is derived from the Long Island Real Estate Reports. Since all final closed data for the current quarter had not been reported at the time this report was compiled, the available closed data was extrapolated in an attempt to approximate full results for the current quarter. Actual results may materially vary from the approximated results. The areas reported on in this report include Amagansett, Bridgehampton, East Hampton, Montauk, Sag Harbor, Sagaponack, Shelter Island, Southampton, Wainscott, and Water Mill. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.
Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/ H AMP TO NS
SOUTHAMPTON VILLAGE
Barons Lane Oceanfront | Offered at $55,000,000 sothebyshomes.com/0057247
BRIDGEHAMPTON SOUTH
Offered at $7,995,000 sothebyshomes.com/0038450 AMAGANSETT
Offered at $5,995,000 sothebyshomes.com/0047500 HAMPTON BAYS
Offered at $4,900,000 sothebyshomes.com/0057269 AMAGANSETT
Offered at $3,199,000 sothebyshomes.com/1050785 *in order from left to right, top to bottom
sothebyshomes.com/hamptons
Market Snapshot All Hamptons
Bridgehampton
$3.0
450 400
$2.5 350 $2.0
Southampton
300 250
$1.5 200
East Hampton
$1.0
150
Sag Harbor
100 $0.5 50 $0.0
0
2013
2014
2015
2016
*Price in Millions
Total Units Sold 6% 48 % 19 % 27 %
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2017
Q1 Highlights All Hamptons
Bridgehampton
$4.0 $3.5 $3.0
Southampton
$2.5 $2.0
East Hampton
$1.5 $1.0 $0.5
Sag Harbor
Average Selling Price 3.4 $ 1.6 $ 2.3 $ 3.0 $
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
*Price in Millions
Bridgehampton
$-
Total Dollar Volume 9% 35 % 19 % 27 %
Bridgehampton East Hampton Sag Harbor Southampton
Q1 Highlights
/ The Hamptons Q1 Market Update
Units Sold Comparison All Hamptons | Five Years
450 400 350 300 250 200 150 100 50 -
2013
2014
2015
2016
2017 Under $1M $1 - 3M $3 - 6M $6 - 10M $10M and Above
Total Units Sold By Price Point Below $1M
$1M $3M
$3M $6M
$6M $10M
$10M & Above
Total
Change
-39%
-11%
8%
97%
-69%
-21%
Change
-34%
35%
115%
163%
-44%
3%
2017
102
120
43
16
3
284
2016
167
135
40
8
9
359
2015
198
155
39
11
12
415
2014
172
123
54
12
7
368
2013
155
89
20
6
5
275
{2017 v 2016} {2017 v 2013}
*Price in Millions
Sales & Price Comparison by Town All Hamptons | Five Years
$5.5 $5.0 $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0
2013
2014
2015
2016
Average Selling Price
2017
Bridgehampton East Hampton Sag Harbor Southampton
Median Selling Price
*Dollars in Millions
$4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0
2013
2014
2015
2016
Five Year Comparison
2017
/ The Hamptons Q1 Market Update
at a glance {Q1 | 2017}
bridgehampton
-7
%
Change in Average Selling Price {2017 v 2016}
-48
%
Change in Units Sold {2017 v 2016}
16 Units Sold
3.4m
$
Average Selling Price
|
Average Selling Price Total Units Sold 45
$6,000,000
40
$5,000,000
35 30
$4,000,000
25
$3,000,000
20
$2,000,000
15 10
$1,000,000
5
$-
-
2013
2014
2015
Average Selling Price
2016
2017
Total Units Sold
About
Bridgehampton ALSO ENCOMPASSING SAGAPONACK
Bridgehampton’s cultural sophistication offers world-class riding events, some of the finest beaches, popular wineries, boutique shops, a historic charming village, fine dining and galleries among world-class, coveted properties.
Average Selling Price
Median Selling Price
Total Units Sold
-7%
43%
-48%
2017
$3,394,875
$3,369,000
16
2016
$3,639,910
$2,362,500
30
2015
$4,993,350
$2,978,500
42
2014
$3,451,074
$2,200,000
27
2013
$3,818,804
$2,040,000
23
{2017 v 2016}
Change
Bridgehampton
/ The Hamptons Q1 Market Update
|
Average Selling Price Total Units Sold $2,500,000
200 180
$2,000,000
160 140 120
$1,500,000
100 $1,000,000
80 60
$500,000
40 20
$-
-
2013
2014
2015
Average Selling Price
2016
2017
Total Units Sold
About
East Hampton ALSO ENCOMPASSING AMAGANSETT, MONTAUK, AND WAINSCOTT
Distinguished by miles of sandy beaches, East Hampton retains its historic charm and offers a vibrant cultural scene as well as some of the most exclusive, extraordinary properties on the East End.
Average Selling Price
Median Selling Price
Total Units Sold
-33%
13%
-19%
2017
$1,573,891
$1,122,000
138
2016
$2,357,949
$994,900
170
2015
$1,500,207
$957,500
180
2014
$1,723,014
$990,000
171
2013
$1,294,457
$836,500
150
{2017 v 2016}
Change
The Hamptons Q1 Market Update / East Hampton
at a glance {Q1 | 2017}
east hampton
-33
%
Change in Average Selling Price {2017 v 2016}
-19
%
Change in Units Sold {2017 v 2016}
138 Units Sold
1.6m
$
Average Selling Price
at a glance {Q1 | 2017}
sag harbor
+56
%
Change in Average Selling Price {2017 v 2016}
-21
%
Change in Units Sold {2017 v 2016}
55 $2.3m Units Sold
Average Selling Price
|
Average Selling Price Total Units Sold $2,500,000
80 70
$2,000,000
60 50
$1,500,000
40 $1,000,000
30 20
$500,000
10 $-
-
2013
2014
2015
Average Selling Price
2016
2017
Total Units Sold
About
Sag Harbor ALSO ENCOMPASSING NORTH HAVEN AND NOYAC
A former whaling port, and long favored by famed writers and artists, picturesque Sag Harbor is the home base to some of the finest yachts in the world, residences with spectacular waterviews, and an energetic community.
Average Selling Price
Median Selling Price
Total Units Sold
56%
70%
-21%
2017
$2,292,022
$1,650,000
55
2016
$1,469,800
$972,500
70
2015
$1,350,056
$920,000
67
2014
$2,150,952
$1,195,000
51
2013
$976,231
$640,000
32
{2017 v 2016}
Change
Sag Harbor
/The Hamptons Q1 Market Update
|
Average Selling Price Total Units Sold $3,500,000
140
$3,000,000
120
$2,500,000
100
$2,000,000
80
$1,500,000
60
$1,000,000
40
$500,000
20
$-
-
2013
2014
2015
Average Selling Price
2016
2017
Total Units Sold
About
Southampton ALSO ENCOMPASSING NORTH SEA AND WATER MILL
Southampton’s prestigious oceanfront town offers unparalleled beaches and elegance. Prominent hedged estates and homes with sweeping ocean views command the classic and traditional community sought after by many.
Average Selling Price
Median Selling Price
Total Units Sold
31%
39%
-15%
2017
$3,028,991
$1,662,500
75
2016
$2,313,826
$1,200,000
89
2015
$2,162,283
$1,130,000
126
2014
$2,262,966
$1,200,000
119
2013
$1,824,875
$1,198,750
70
{2017 v 2016}
Change
The Hamptons Q1 Market Update
/ Southampton
at a glance {Q1 | 2017}
southampton
+31
%
Change in Average Selling Price {2017 v 2016}
-15
%
Change in Units Sold {2017 v 2016}
75 $3m Units Sold
Average Selling Price
Extraordinary Results We celebrate the notable success of our associates and clients
SOUTHAMPTON
The Tower House at Olde Towne Last asking $29,900,000
WATER MILL SOUTH
Waterfront Villa Last asking $9,000,000 SOUTHAMPTON VILLAGE
Quintessential Traditional Last asking $10,450,000 AMAGANSETT
Amagansett Oceanfront Last asking $7,775,000 SAG HARBOR VILLAGE
Suffolk Street Dream Home Last asking $3,195,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons
JEAN-MICHEL BASQUIAT In the Wings, 1986 To be sold in the Contemporary Art Evening Sale New York 18 May 2016
New York Spring Sales 2017
Art of Africa, Oceania, and the Americas Auction 15 May Impressionist & Modern Art Evening Sale Auction 16 May Impressionist & Modern Art Day Sale Auction 17 May Contemporary Art Evening Sale Auction 18 May Contemporary Art Day Sale Auction 19 May Finest and Rarest Wines Auction 20 May American Art Auction 23 May Latin American Modern & Contemporary Art Evening Sale Auction 25 May
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/Auctions. ENQUIRIES +1 212 606 7000 © 2017 ARTISTS RIGHTS SOCIETY (ARS), NEW YORK / ADAGP, PARIS