Q2 | 2017
The Hamptons
Market Update
BRIDGEHAMPTON
25JennifirLane.com Offered at $15,500,000
SOUTHAMPTON
Offered at $150,000,000 MeadowLaneEstate.com
a message from
The Hamptons Brokerage Managers In the second quarter of 2017, the average sales price and median sales price of Hamptons real estate increased 28% and 23% respectively year over year according to data compiled in the Long Island Real Estate Report. The overall average sales price for the second quarter of 2017 in the Hamptons was $2.5M and the overall median sales price was $1.4M. In the overall Hamptons market, total units sold declined 10% from 459 units sold in second quarter of 2016 to 413 sales in the second quarter of 2017. Despite the 10% decline in overall units sold, the number of units sold in the $10M and above category increased from 8 units in the second quarter of 2016 to 19 units in the second quarter 2017, a 137% gain. Total dollar volume reached $1 billion, a 16% increase from prior year. 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
AMAGANSETT
Offered at $5,900,000 57MarineBlvd.com
EAST HAMPTON
Offered at $2,550,000 sothebyshomes.com/0047547 BRIDGEHAMPTON
Offered at $5,950,000 361BrickKilnRoad.com SHELTER ISLAND
Offered at $2,500,000 sothebyshomes.com/0057270 SAG HARBOR
Offered at $2,998,000 7CedarAvenue.com *in order from left to right, top to bottom
sothebyshomes.com/hamptons
Featured Properties
/ The Hamptons Q2 Market Update
Market Snapshot All Hamptons
Bridgehampton
Southampton
East Hampton Sag Harbor
$3.0
600
$2.5
500
$2.0
400
$1.5
300
$1.0
200
$0.5
100
$0.0
0
2013
2014
2015
2016
*Price in Millions
Total Units Sold 41 187 63 122
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2017
Q2 Highlights All Hamptons
Bridgehampton
$4.5 $4.0 $3.5 $3.0
Southampton
$2.5
East Hampton
$2.0 $1.5 $1.0 $0.5
Sag Harbor
Average Selling Price 3.3 $ 1.6 $ 1.9 $ 3.8 $
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
Bridgehampton
$-
*Price in Millions
Total Dollar Volume 13 % 29 % 12 % 46%
Bridgehampton East Hampton Sag Harbor Southampton
Q2 Highlights
/ The Hamptons Q2 Market Update
Units Sold Comparison All Hamptons | Five Years
600
500
400
300
200
100
-
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
-32%
5%
8%
15%
137%
-10%
Change
-41%
2%
-28%
8%
11%
-22%
2017
145
180
53
16
19
413
2016
215
172
49
14
8
458
2015
198
155
39
11
12
491
2014
218
188
48
10
9
473
2013
248
177
73
15
17
530
{2017 v 2016} {2017 v 2013}
*Price in Millions
Sales & Price Comparison by Town All Hamptons | Five Years
$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
*Price in Millions
$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 Q2 Market Update
at a glance {Q2 | 2017}
bridgehampton
-20
%
Change in Average Selling Price {2017 v 2016}
+13
%
Change in Units Sold {2017 v 2016}
41 Units Sold
3.3m
$
Average Selling Price
|
Average Selling Price Total Units Sold $5,000,000
60
$4,500,000
50
$4,000,000 $3,500,000
40
$3,000,000 $2,500,000
30
$2,000,000
20
$1,500,000 $1,000,000
10
$500,000 $-
-
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
-20%
-7%
13%
2017
$3,278,591
$2,000,000
41
2016
$4,083,367
$2,160,000
36
2015
$4,276,370
$3,325,000
32
2014
$2,953,861
$2,125,000
43
2013
$3,822,323
$2,150,000
51
{2017 v 2016}
Change
Bridgehampton
/ The Hamptons Q2 Market Update
|
Average Selling Price Total Units Sold 300
$2,500,000
250
$2,000,000
200
$1,500,000
150 $1,000,000
100
$500,000
50 -
$-
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
3%
17%
-15%
2017
$1,616,887
$1,125,000
187
2016
$1,571,538
$965,000
219
2015
$1,783,551
$980,000
231
2014
$2,005,085
$962,500
227
2013
$1,943,283
$995,000
277
{2017 v 2016}
Change
The Hamptons Q2 Market Update / East Hampton
at a glance {Q2 | 2017}
east hampton
+3
%
Change in Average Selling Price {2017 v 2016}
-15
%
Change in Units Sold {2017 v 2016}
187 Units Sold
1.6m
$
Average Selling Price
at a glance {Q2 | 2017}
sag harbor
+21
%
Change in Average Selling Price {2017 v 2016}
-21
%
Change in Units Sold {2017 v 2016}
63 $1.9m Units Sold
Average Selling Price
|
Average Selling Price Total Units Sold 90
$2,500,000
80 $2,000,000
70 60
$1,500,000
50 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
21%
18%
-21%
2017
$1,912,024
$1,262,500
63
2016
$1,586,425
$1,074,175
80
2015
$1,672,932
$1,460,480
74
2014
$1,530,637
$966,250
68
2013
$1,486,208
$962,500
60
{2017 v 2016}
Change
Sag Harbor
/The Hamptons Q2 Market Update
|
Average Selling Price Total Units Sold $4,500,000
180
$4,000,000
160
$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
76%
29%
0%
2017
$3,835,886
$1,625,000
122
2016
$2,174,064
$1,260,000
123
2015
$2,440,146
$1,400,000
154
2014
$1,852,865
$1,275,000
135
2013
$2,405,644
$1,231,250
142
{2017 v 2016}
Change
The Hamptons Q2 Market Update
/ Southampton
at a glance {Q2 | 2017}
southampton
+76
%
Change in Average Selling Price {2017 v 2016}
0
%
Change in Units Sold {2017 v 2016}
122 $3.8m Units Sold
Average Selling Price
Significant Sales We celebrate the notable success of our associates and clients
SOUTHAMPTON
Gin Lane Oceanfront Estate Last Asking: $31,000,000
SOUTHAMPTON
Wonderful Wyandanch 5 Acres Pondfront Last asking $15,950,000 SOUTHAMPTON
Beautiful Bishops Pond Townhome Last asking $2,495,000 SAGAPONACK
Quintessential Luxury with Tennis Last asking $4,950,000 SOUTHAMPTON
Southampton Estate - Deeded Ocean Access Last asking $12,500,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons Significant Sales
/ The Hamptons Q2 Market Update
UNPARALLELED SELECTION OF WINES ALL YEAR ROUND. Sotheby’s Wine is more than an auctioneer, we are a global retailer with stores in New York and Hong Kong. Visit us online at sothebyswine.com.
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