Q3 | 2017
The Hamptons
Market Update
SAGAPONACK
135CrestviewLane.com Offered at $44,995,000
WAINSCOTT
Offered at $55,000,000 KilkareHamptons.com
a message from
The Hamptons Brokerage Managers In the third quarter of 2017, the number of units sold in The Hamptons increased 11% from the third quarter of 2016 according to data compiled in the Long Island Real Estate Report. Units sold rose to 391 units in the third quarter of 2017 from 353 units in the third quarter of 2016. Additional highlights included a 48% gain in Bridgehampton to 31 units sold from 21 in the third quarter of 2016 as well as a 22% gain in East Hampton compared to prior year. Despite the increase in units sold year over year, total dollar sales volume declined by 5%, driven by a 14% decrease in average sales price. Overall median sale price decreased this year to $1.1M, a 4% decline compared to the year prior. 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 68 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 Brokerages 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
Offered at $24,995,000 65CaptainsNeckLane.com
SAG HARBOR
Offered at $5,500,000 sothebyshomes.com/1050951 WATER MILL
Offered at $3,450,000 sothebyshomes.com/0038732 SOUTHAMPTON
Offered at $3,950,000 52EastBeachDrive.com AMAGANSETT
Offered at $2,950,000 sothebyshomes.com/0047741 *in order from left to right, top to bottom
sothebyshomes.com/hamptons
Featured Properties
/ The Hamptons Q3 Market Update
Market Snapshot All Hamptons
Bridgehampton
410
$3.0
400
$2.5
390 $2.0
Southampton
380 370
$1.5
East Hampton
360
$1.0
350
Sag Harbor
$0.5
340 330
$0.0
2013
2014
2015
2016
*Price in Millions
Total Units Sold 31 187 52 121
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2017
Q3 Highlights All Hamptons
$5.0 $4.5 $4.0
Bridgehampton
$3.5
Southampton
$3.0 $2.5 $2.0 $1.5
East Hampton
Sag Harbor
$1.0 $0.5
Average Selling Price 4.4 $ 1.8 $ 1.9 $ 2.0 $
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
Bridgehampton
$-
*Price in Millions
Total Dollar Volume 17 % 41% 12 % 30%
Bridgehampton East Hampton Sag Harbor Southampton
Q3 Highlights
/ The Hamptons Q3 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
18%
22%
-30%
-27%
7%
11%
Change
-12%
11%
0%
7%
50%
-1%
2017
187
147
31
12
15
391
2016
159
120
44
16
14
353
2015
159
159
42
16
9
385
2014
170
141
48
14
12
385
2013
213
132
31
11
10
397
Q3 {2017 v 2016} {2017 v 2013}
*Price in Millions
Sales & Price Comparison by Town All Hamptons | Five Years
$6.5 $6.0 $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
*Price in Millions
$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
Five Year Comparison
2017
/ The Hamptons Q3 Market Update
at a glance {Q3 | 2017}
bridgehampton
-22
%
Change in Average Selling Price {2017 v 2016}
+48
%
Change in Units Sold {2017 v 2016}
31 Units Sold
4.4m
$
Average Selling Price
|
Average Selling Price Total Units Sold $7,000,000
40
$6,000,000
35 30
$5,000,000
25
$4,000,000
20 $3,000,000
15
$2,000,000
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
-22%
-0%
48%
2017
$4,448,846
$2,500,000
31
2016
$5,735,269
$2,495,000
21
2015
$3,587,012
$2,815,650
38
2014
$4,817,828
$4,450,000
29
2013
$4,387,767
$3,610,000
30
Q3 {2017 v 2016}
Change
Bridgehampton
/ The Hamptons Q3 Market Update
|
Average Selling Price Total Units Sold $2,000,000
200
$1,800,000
180
$1,600,000
160
$1,400,000
140
$1,200,000
120
$1,000,000
100
$800,000
80
$600,000
60
$400,000
40
$200,000
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
10%
8%
22%
2017
$1,805,591
$925,000
187
2016
$1,637,328
$855,000
153
2015
$1,743,961
$1,200,000
143
2014
$1,514,935
$950,000
169
2013
$1,517,703
$825,000
188
Q3 {2017 v 2016}
Change
The Hamptons Q3 Market Update / East Hampton
at a glance {Q3 | 2017}
east hampton
+10
%
Change in Average Selling Price {2017 v 2016}
+22
%
Change in Units Sold {2017 v 2016}
187 Units Sold
1.8m
$
Average Selling Price
at a glance {Q3 | 2017}
sag harbor
-28
%
Change in Average Selling Price {2017 v 2016}
+4
%
Change in Units Sold {2017 v 2016}
52 $1.9m Units Sold
Average Selling Price
|
Average Selling Price Total Units Sold 90
$3,000,000
80
$2,500,000
70 60
$2,000,000
50
$1,500,000
40 30
$1,000,000
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
-28%
4%
23%
2017
$1,881,932
$1,400,000
52
2016
$2,606,365
$1,350,000
67
2015
$1,525,639
$995,000
77
2014
$1,671,624
$1,238,525
50
2013
$1,301,220
$830,606
56
Q3 {2017 v 2016}
Change
Sag Harbor
/The Hamptons Q3 Market Update
|
Average Selling Price Total Units Sold $3,500,000
160
$3,000,000
140 120
$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
-28%
-17%
8%
2017
$2,087,308
$1,087,500
121
2016
$2,883,360
$1,312,750
112
2015
$2,440,974
$1,500,000
127
2014
$2,760,438
$1,385,520
137
2013
$2,005,576
$1,250,000
123
Q3 {2017 v 2016}
Change
The Hamptons Q3 Market Update
/ Southampton
at a glance {Q3 | 2017}
southampton
-28
%
Change in Average Selling Price {2017 v 2016}
+8
%
Change in Units Sold {2017 v 2016}
121 $2m Units Sold
Average Selling Price
Significant Sales We celebrate the notable success of our associates and clients
SAGAPONACK
Private Waterfront Modern Last Asking: $19,995,000
EAST HAMPTON
Oceanfront East Hampton Last asking $32,500,000 SOUTHAMPTON
Stylish First Neck Lane with Pool & Tennis Last asking $10,950,000 SAG HARBOR
Sag Harbor Sanctuary on 6.2 Acres Last asking $2,495,000 SOUTHAMPTON
Classy Traditional in Southampton Golf Country Last asking $1,575,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons Significant Sales
/ The Hamptons Q3 Market Update
Flawless.
Exceptional Diamonds. Curated by Sotheby’s.
SALON OPEN NEW BOND STREET, LONDON. SOTHEBYSDIAMONDS.COM