Q2 | 2019
The Hamptons
Market Update
WATER MILL SOUTH
Offered at $13,750,000 6CalfCreekCourt.com
SOUTHAMPTON
Offered at $29,500,000 365and385SouthMain Street.com
a message from
The Hamptons Brokerage Managers In the second quarter of 2019, the average sales price of Hamptons real estate east of the Shinnecock Canal increased year over year by 2%, from $2.40M in the second quarter of 2018 to $2.46M during the same period of 2019. However, according to data compiled by the Long Island Real Estate Report, the total number of sold properties fell by 18% year over year, from 456 properties sold in Q2 2018 to 376 properties in Q2 2019. As a result, the total sold volume fell by 15%. The median sales price increased 8%, from $1.3M in 2018 to $1.4M in 2019, thanks to significant increases in the median sales price in both Southampton and Sag Harbor. Market share by price point saw a 5% swing in favor of properties above $3M which represented 27% of the market, up from 23% in 2018 during the same time period. No matter the state of the market, Sotheby’s International Realty - Hamptons Brokerages are uniquely positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 72 countries and territories, here in the Hamptons we operate four local offices: in Southampton, Bridgehampton, East Hampton and Sag Harbor. Sotheby’s International Realty has approximately 136 affiliated agents in the Hamptons who are “local experts worldwide.” Our brokers are well-versed in zoning, building and rental codes specific to each hamlet on the south fork. Our goal: to pair exceptional properties with exceptional clients while offering superior, white glove service. We would be pleased to partner with you to achieve your real estate goals, whether buying or selling your home or locking in a vacation to remember in the Hamptons. BRIDGEHAMPTON & SOUTHAMPTON BROKERAGES
Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 50 Nugent Street | Southampton, NY 11968 | 631.283.0600 2446 Main Street | Bridgehampton, NY 11932 | 631.537.6000 SAG HARBOR & EAST HAMPTON BROKERAGES
Nanette Hansen, Brokerage Manager 6 Main Street | East Hampton, NY 11937 | 631.324.6000 35 Main Street | Sag Harbor, NY 11963 | 631.725.6000 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 OT H E BYS H O M E S.C O M / HAM PTON S EAST HAMPTON
Offered at $8,495,000 98BullPath.com
EAST HAMPTON
Offered at $16,900,000 Apaquoguehouse.com WATER MILL
Offered at $10,995,000 90WildGooseLane.com SOUTHAMPTON
Offered at $4,500,000 107LeeAvenue.com EAST HAMPTON
Offered at $1,295,000 SothebysHomes.com/1051172 *in order from left to right, top to bottom
sothebyshomes.com/hamptons
Featured Properties
/ The Hamptons Q2 Market Update
Market Snapshot All Hamptons
(east of the Shinnecock Canal)
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
2015
2016
2017
2018
*Price in Millions
Total Units Sold 35 170 69 102
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2019
Q2 Highlights All Hamptons
(east of the Shinnecock Canal)
Bridgehampton
$4.5 $4.0 $3.5
Southampton
$3.0 $2.5 $2.0
East Hampton
$1.5 $1.0
Sag Harbor
$0.5
Average Selling Price 4.2 $ 2.0 $ 2.0 $ 2.9 $
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
Bridgehampton
$-
*Price in Millions
Total Dollar Volume 16 % 37 % 15 % 33 %
Bridgehampton East Hampton Sag Harbor Southampton
Q2 Highlights
/ The Hamptons Q2 Market Update
Units Sold Comparison All Hamptons | Five Years (east of the Shinnecock Canal)
600
500
400
300
200
100
-
2015
2016
2017
2018
2019 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
-28%
-14%
-10%
10%
14%
-18%
Change
-35%
-29%
17%
10%
14%
-23%
2019
136
138
63
23
16
376
2018
190
161
70
21
14
456
2017
196
202
60
20
16
494
2016
218
173
49
14
8
462
2015
208
194
54
21
14
491
Q2 {2019 v 2018} {2019 v 2015}
*Price in Millions
Sales & Price Comparison by Town All Hamptons | Five Years (east of the Shinnecock Canal)
$4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0
2015
2016
2017
2018
Average Selling Price
2019
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
2015
2016
2017
Five Year Comparison
2018
2019
/ The Hamptons Q2 Market Update
at a glance {Q2 | 2019}
bridgehampton
-1
%
Change in Average Selling Price {2019 v 2018}
+25
%
Change in Units Sold {2019 v 2018}
35 Units Sold
4.2m
$
Average Selling Price
|
Average Selling Price Total Units Sold $4,400,000
50
$4,300,000
45
$4,200,000
40
$4,100,000
35
$4,000,000
30
$3,900,000
25
$3,800,000
20
$3,700,000
15
$3,600,000
10
$3,500,000
5
$3,400,000
-
2015
2016
2017
Average Selling Price
2018
2019
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
-1%
9%
25%
2019
$4,161,101
$2,900,000
35
2018
$4,210,313
$2,655,000
28
2017
$3,739,411
$2,407,500
46
2016
$3,901,827
$1,982,500
38
2015
$4,276,370
$3,325,000
32
Q2 {2019 v 2018}
Change
Bridgehampton
/ The Hamptons Q2 Market Update
|
Average Selling Price Total Units Sold $2,500,000
250
$2,000,000
200
$1,500,000
150
$1,000,000
100
$500,000
50
$-
-
2015
2016
2017
Average Selling Price
2018
2019
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
-13%
2%
-19%
2019
$2,018,863
$1,250,000
170
2018
$2,323,093
$1,222,775
209
2017
$1,616,679
$1,080,000
226
2016
$1,571,538
$965,000
219
2015
$1,783,551
$980,000
231
Q2 {2019 v 2018}
Change
The Hamptons Q2 Market Update / East Hampton
at a glance {Q2 | 2019}
east hampton
-13
%
Change in Average Selling Price {2019 v 2018}
-19
%
Change in Units Sold {2019 v 2018}
170 Units Sold
2
$ m Average Selling Price
at a glance {Q2 | 2019}
sag harbor
+18
%
Change in Average Selling Price {2019 v 2018}
-18
%
Change in Units Sold {2019 v 2018}
69 $2m Units Sold
Average Selling Price
|
Average Selling Price Total Units Sold $2,500,000
90 80
$2,000,000
70 60
$1,500,000
50 40
$1,000,000
30 20
$500,000
10 $-
-
2015
2016
2017
Average Selling Price
2018
2019
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
18%
39%
-18%
2019
$1,955,877
$1,382,500
69
2018
$1,653,883
$995,000
84
2017
$1,812,203
$1,275,000
64
2016
$1,586,425
$1,074,175
80
2015
$1,672,932
$1,460,480
74
Q2 {2019 v 2018}
Change
Sag Harbor
/The Hamptons Q2 Market Update
|
Average Selling Price Total Units Sold $3,500,000
180 160
$3,000,000
140
$2,500,000
120
$2,000,000
100
$1,500,000
80 60
$1,000,000
40
$500,000
20 -
$-
2015
2016
2017
Average Selling Price
2018
2019
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
13%
24%
-24%
2019
$2,949,219
$1,950,000
102
2018
$2,606,464
$1,575,000
135
2017
$2,879,198
$1,410,000
158
2016
$2,148,796
$1,250,000
125
2015
$2,440,146
$1,400,000
154
Q2 {2019 v 2018}
Change
The Hamptons Q2 Market Update
/ Southampton
at a glance {Q2 | 2019}
southampton
(east of the Shinnecock Canal)
+13
%
Change in Average Selling Price {2019 v 2018}
-24
%
Change in Units Sold {2019 v 2018}
102 $2.9m Units Sold
Average Selling Price
Significant Sales We celebrate the notable success of our associates and clients
SAGAPONACK
Waterfront on Prestigious Quimby Lane Last Asking Price $34,000,000
SOUTHAMPTON
Historic Wyndecote Last Asking Price $22,500,000 SAGAPONACK SOUTH
Prime Sagaponack South Lot Last Asking: $8,950,000 MONTAUK
Old West Lake Waterfront Last Asking Price $7,950,000 SAG HARBOR
Premier North Haven Estate Last Asking Price $5,250,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons Significant Sales
/ The Hamptons Q2 Market Update
NOW ACCEPTING BIDDERS AND CONSIGNORS
15-17 AUGUST
MONTEREY
CONSIGNMENTS INVITED THROUGH 3 JULY
29 AUGUST – 1 SEPTEMBER
AUBURN FALL
CONSIGNMENTS INVITED THROUGH 17 JULY FOR CATALOGUE INCLUSION
10-11 OCTOBER
HERSHEY
CONSIGNMENTS INVITED THROUGH 28 AUGUST
5 NOVEMBER
LONDON
CONSIGNMENTS INVITED THROUGH 18 SEPTEMBER
30 NOVEMBER
ABU DHABI
CONSIGNMENTS INVITED THROUGH EARLY OCTOBER
TO BE OFFERED AT MONTEREY
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