Q1 | 2018
The Hamptons
Market Update
EAST HAMPTON
DunemereLane.com Offered at $12,500,000
BRIDGEHAMPTON
Offered at $12,500,000 NarrowLaneFarmSagaponack.com
a message from
The Hamptons Brokerage Managers In the first quarter of 2018, the average sales price of Hamptons (east of the Shinnecock Canal) real estate remained consistent year over year according to data compiled in the Long Island Real Estate Report, while median sales price dipped by 5%. In the overall Hamptons market (east of the Shinnecock Canal), total units sold decreased 16% from 345 units sold in first quarter of 2017 to 291 sales in the first quarter of 2018. As a result, total dollar volume also dipped 16% lower, falling to $652 million from $778 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 130 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 BRIDGEHAMPTON
Offered at $37,000,000 QuimbyLaneWaterfront.com
EAST HAMPTON
Offered at $5,995,000 sothebyshomes.com/0047967 SOUTHAMPTON
Offered at $4,699,000 234TuckahoeRoad.com SAG HARBOR
Offered at $2,595,000 sothebyshomes.com/0057556 SOUTHAMPTON
Offered at $2,749,000 sothebyshomes.com/1051016 *in order from left to right, top to bottom
sothebyshomes.com/hamptons
Featured Properties
/ The Hamptons Q1 Market Update
Market Snapshot All Hamptons
(east of the Shinnecock Canal)
Bridgehampton
450
$3.0
400 $2.5 350 300
$2.0
Southampton 250 $1.5 200
East Hampton Sag Harbor
150
$1.0
100 $0.5 50 $0.0
0
2014
2015
2016
2017
*Price in Millions
Total Units Sold 24 141 35 91
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2018
Q1 Highlights All Hamptons
(east of the Shinnecock Canal)
Bridgehampton
$6.0
$5.0
$4.0
Southampton
$3.0
East Hampton
$2.0
Sag Harbor
$1.0
Average Selling Price 4.8 $ 1.7 $ 1.2 $ 2.8
$
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
Bridgehampton
$-
*Price in Millions
Total Dollar Volume 18 % 36 % 6% 40 %
Bridgehampton East Hampton Sag Harbor Southampton
Q1 Highlights
/ The Hamptons Q1 Market Update
Units Sold Comparison All Hamptons | Five Years (east of the Shinnecock Canal)
450 400 350 300 250 200 150 100 50 -
2014
2015
2016
2017
2018 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
-10%
-15%
-39%
-4%
42%
-16%
Change
-32%
-6%
-35%
22%
13%
-21%
2018
117
116
35
15
8
291
2017
130
137
57
15
6
345
2016
170
137
40
8
9
364
2015
198
155
39
11
12
415
2014
172
123
54
12
7
368
Q1 {2018 v 2017} {2018 v 2014}
*Price in Millions
Sales & Price Comparison by Town All Hamptons | Five Years (east of the Shinnecock Canal)
$5.5 $5.0 $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0
2014
2015
2016
2017
Average Selling Price
2018
Bridgehampton East Hampton Sag Harbor Southampton
Median Selling Price
*Price in Millions
$4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0
2014
2015
2016
2017
Five Year Comparison
2018
/ The Hamptons Q1 Market Update
at a glance {Q1 | 2018}
bridgehampton
+34
%
Change in Average Selling Price {2018 v 2017}
+17
%
Change in Units Sold {2018 v 2017}
24 Units Sold
4.8m
$
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 15
$2,000,000
10
$1,000,000
5
$-
-
2014
2015
2016
Average Selling Price
2017
2018
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
34%
-2%
17%
2018
$4,840,172
$3,300,000
24
2017
$3,615,900
$3,369,000
20
2016
$3,639,910
$2,362,500
30
2015
$4,993,350
$2,978,500
42
2014
$3,451,074
$2,200,000
27
Q1 {2018 v 2017}
Change
Bridgehampton
/ The Hamptons Q1 Market Update
|
Average Selling Price Total Units Sold $2,500,000
200 180 160
$2,000,000
140 $1,500,000
120 100 80
$1,000,000
60 40
$500,000
20 $-
-
2014
2015
2016
Average Selling Price
2017
2018
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
8%
9%
-15%
2018
$1,696,079
$1,045,000
141
2017
$1,564,582
$955,000
166
2016
$2,332,953
$992,150
172
2015
$1,500,207
$957,500
180
2014
$1,723,014
$990,000
171
Q1 {2018 v 2017}
Change
The Hamptons Q1 Market Update / East Hampton
at a glance {Q1 | 2018}
east hampton
+8
%
Change in Average Selling Price {2018 v 2017}
-15
%
Change in Units Sold {2018 v 2017}
141 Units Sold
1.7m
$
Average Selling Price
at a glance {Q1 | 2018}
sag harbor
-47
%
Change in Average Selling Price {2018 v 2017}
-39
%
Change in Units Sold {2018 v 2017}
35 $1.2m Units Sold
Average Selling Price
|
Average Selling Price Total Units Sold 80
$2,500,000
70 $2,000,000
60 50
$1,500,000
40 $1,000,000
30 20
$500,000
10 -
$-
2014
2015
2016
Average Selling Price
2017
2018
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
-47%
-15%
-39%
2018
$1,156,279
$1,340,000
35
2017
$2,163,615
$1,567,500
57
2016
$1,469,800
$972,500
70
2015
$1350,056
$920,000
67
2014
$2,150,952
$1,195,000
51
Q1 {2018 v 2017}
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
$-
-
2014
2015
2016
Average Selling Price
2017
2018
Total Units Sold
About
Southampton (EAST OF THE SHINNECOCK CANAL) INCLUDING 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
-10%
-13%
-11%
2018
$2,849,131
$1,380,000
91
2017
$3,158,477
$1,595,000
102
2016
$2,266,817
$1,200,000
92
2015
$2,162,283
$1,130,000
126
2014
$2,262,966
$1,200,000
119
Q1 {2018 v 2017}
Change
The Hamptons Q1 Market Update
/ Southampton
at a glance {Q1 | 2018}
southampton
(east of the Shinnecock Canal)
-10
%
Change in Average Selling Price {2018 v 2017}
-11
%
Change in Units Sold {2018 v 2017}
91 $2.8m Units Sold
Average Selling Price
Significant Sales We celebrate the notable success of our associates and clients
WATER MILL
Private & Magnificent Waterfront Estate Last Asking Price $42,500,000
EAST HAMPTON
Magnificent Georgica Pond Estate Last Asking Price $16,500,000 WATER MILL
Chic Farmhouse Last Asking Price $3,995,000 AMAGANSETT
Treasure Island Beach Houuse Last Asking Price $2,150,000 SAG HARBOR
Lovely House in the Village with Pool Last Asking Price $1,995,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons Significant Sales
/ The Hamptons Q1 Market Update
April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.
1334 YORK AVENUE, NEW YORK, NY 10021 ENQUIRIES +1 212 606 7000 SOTHEBYSHOMES.COM SOTHEBYS.COM/AUCTIONS FOLLOW US @SOTHEBYS © 2018 THE POLLOCK�KRASNER FOUNDATION / ARTISTS RIGHTS SOCIETY �ARS�, NEW YORK SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2018