Q3 | 2018
The Hamptons
Market Update
SOUTHAMPTON
1377MeadowLane.com Offered at $8,750,000
SAGAPONACK
Offered at $29,900,000 SagaponackSouthCompound.com
a message from
The Hamptons Brokerage Managers In the third quarter of 2018, the average sales price of Hamptons real estate east of the Shinnecock Canal increased year over year 3%, from $1.95M in 2017 to $2M in 2018, according to data compiled by the Long Island Real Estate Report. At the same time, the median sales price increased 13% from $1.1M in 2017 to $1.26M in 2018. Overall, total units sold decreased 18% from 387 units sold in third quarter of 2017 to 318 sales in the third quarter of 2017. As a result, total dollar volume dipped 15%, from $755M to $638M. 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.” Sotheby’s International Realty independent sales associates 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 SAG HARBOR
Offered at $6,200,000 SagHarborCaptainsManse.com
BRIDGEHAMPTON
Offered at $3,250,000 20Hull.com SAG HARBOR
Offered at 2,995,000 sothebyshomes.com/0048235 SAG HARBOR
Offered at $1,849,500 20MashomuckDrive.com SOUTHAMPTON
Offered at 1,750,000 sothebyshomes.com/0057749 *in order from left to right, top to bottom
sothebyshomes.com/hamptons
Featured Properties
/ The Hamptons Q3 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
$1.0
150 100
Sag Harbor
$0.5 50 $0.0
0
2014
2015
2016
2017
*Price in Millions
Total Units Sold 28 146 49 95
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2018
Q3 Highlights All Hamptons
(east of the Shinnecock Canal)
$5.0
Bridgehampton
$4.5 $4.0
Southampton
$3.5 $3.0 $2.5 $2.0
Sag Harbor East Hampton
$1.5 $1.0 $0.5
Average Selling Price 4.4 $ 1.8 $ 1.7 $ 1.8
$
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
Bridgehampton
$-
*Price in Millions
Total Dollar Volume 19 % 41 % 13 % 26 %
Bridgehampton East Hampton Sag Harbor Southampton
Q3 Highlights
/ The Hamptons Q3 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
-31%
-4%
10%
-25%
-33%
-18%
Change
-26%
0%
-29%
-36%
-33%
-17%
2018
126
141
34
9
8
318
2017
183
147
33
12
12
387
2016
163
122
44
16
14
359
2015
159
159
42
16
9
385
2014
170
141
48
14
12
385
Q3 {2018 v 2017} {2018 v 2014}
*Price in Millions
Sales & Price Comparison by Town All Hamptons | Five Years (east of the Shinnecock Canal)
$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
2014
2015
2016
2017
Average Selling Price
2018
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
2014
2015
2016
Five Year Comparison
2017
2018
/ The Hamptons Q3 Market Update
at a glance {Q3 | 2018}
bridgehampton
-10
%
Change in Average Selling Price {2018 v 2017}
-22
%
Change in Units Sold {2018 v 2017}
28 Units Sold
4.4m
$
Average Selling Price
|
Average Selling Price Total Units Sold 40
$6,000,000
35
$5,000,000
30 $4,000,000
25 20
$3,000,000
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
-10%
32%
-22%
2018
$4,389,195
$3,072,500
28
2017
$4,862,342
$2,329,000
36
2016
$5,507,365
$2,347,500
22
2015
$3,587,012
$2,815,650
38
2014
$4,817,828
$4,450,000
29
Q3 {2018 v 2017}
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
$-
-
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
35%
15%
-21%
2018
$1,807,166
$1,095,000
146
2017
$1,343,539
$953,800
185
2016
$1,637,328
$855,000
153
2015
$1,743,961
$1,200,000
143
2014
$1,514,935
$950,000
169
Q3 {2018 v 2017}
Change
The Hamptons Q3 Market Update / East Hampton
at a glance {Q3 | 2018}
east hampton
+35
%
Change in Average Selling Price {2018 v 2017}
-21
%
Change in Units Sold {2018 v 2017}
146 Units Sold
1.8m
$
Average Selling Price
at a glance {Q3 | 2018}
sag harbor
-8
%
Change in Average Selling Price {2018 v 2017}
-13
%
Change in Units Sold {2018 v 2017}
49 $1.7m Units Sold
Average Selling Price
|
Average Selling Price Total Units Sold $3,000,000
90 80
$2,500,000
70 60
$2,000,000
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
-8%
-2%
-13%
2018
$1,707,173
$1,372,500
49
2017
$1,863,274
$1,405,000
56
2016
$2,586,418
$1,325,000
68
2015
$1,525,639
$995,000
77
2014
$1,671,624
$1,238,525
50
Q3 {2018 v 2017}
Change
Sag Harbor
/The Hamptons Q3 Market Update
|
Average Selling Price Total Units Sold $3,000,000
160 140
$2,500,000
120 $2,000,000
100 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
-14%
13%
-14%
2018
$1,768,324
$1,245,000
95
2017
$2,060,750
$1,097,000
110
2016
$2,811,404
$1,250,000
116
2015
$2,440,974
$1,500,000
127
2014
$2,760,438
$1,385,520
137
Q3 {2018 v 2017}
Change
The Hamptons Q3 Market Update
/ Southampton
at a glance {Q3 | 2018}
southampton
(east of the Shinnecock Canal)
-14
%
Change in Average Selling Price {2018 v 2017}
-14
%
Change in Units Sold {2018 v 2017}
95 $1.8m Units Sold
Average Selling Price
Significant Sales We celebrate the notable success of our associates and clients
SOUTHAMPTON
Classic Southampton Estate Compound Last Asking Price $17,500,000
SAGAPONACK
Narrow Lane Farm Last Asking Price $12,500,000 MONTAUK
Art & Home Last Asking Price $6,350,000 SAG HARBOR
Like New Construction in the Village Last Asking Price $2,595,000 SAG HARBOR
Sleek, Chich, Modern and Mooring Rights Last Asking Price $2,395,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons Significant Sales
/ The Hamptons Q3 Market Update
UPCOMING AUCTIONS LOS ANGELES 8 DECEMBER ARIZONA 17–18 JANUARY PARIS 6 FEBRUARY AMELIA ISLAND 9 MARCH FORT LAUDERDALE 29–30 MARCH
1963 Aston Martin DP215 Grand Touring Competition Prototype Sold for $21,455,000 at Monterey 2018
NOW INVITING CONSIGNMENTS FOR UPCOMING AUCTIONS HEADQUARTERS +1 519 352 4575 UK +44 (0) 20 7851 7070 NEW YORK +1 212 894 1562 GERMANY +49 172 7151 251 FRANCE +33 (0) 1 76 75 32 933