Q3 | 2019
The Hamptons
Market Update
EAST HAMPTON
Offered at $55,000,000 EHOceanfront.com
SOUTHAMPTON
Offered at $19,000,000 80WyandanchLane.com
a message from
The Hamptons Brokerage Managers In the third quarter of 2019, the average sales price of Hamptons real estate east of the Shinnecock Canal fell year-over-year by 3%, from $1.99M in the third quarter of 2018 to $1.92M during the same period of 2019. Additionally, according to data compiled by the Long Island Real Estate Report, the total number of sold properties fell by 7% year-over-year from 328 properties sold in Q3 2018 to 304 properties in Q3 2019. Nearly all price categories fell year-over-year, with the exception of properties sold above $10M, which saw an increase of 4% year-over-year from $124M in Q3 2018 to $129M in Q3 2019. Total volume sold decreased 6% while median sales price held flat year over year at $1.2M. East Hampton and Sag Harbor both saw an increase in median sales price of 5% and 16%, respectively, spurred on by an uptick in the number of homes sold above $6M in Q3 2019 versus Q3 2018. 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 71 countries and territories, here in the Hamptons we operate three local offices: in Southampton, Bridgehampton, and East Hampton. Sotheby’s International Realty has approximately 129 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 is 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 EAST HAMPTON BROKERAGE
Nanette Hansen, Brokerage Manager 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 OT H E BYS H O M E S.C O M / HAM PTON S BRIDGEHAMPTON
Offered at $14,000,000 111QuimbyLane.com
SAG HARBOR
Offered at $8,295,000 24EastHarborDrive.com EAST HAMPTON
Offered at $6,500,000 24JerichoClose.com SOUTHAMPTON
Offered at $5,950,000 277ToylsomeLane.com SAG HARBOR
Offered at $5,500,000 129StoneyHill.com *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
$3.0
450 400
$2.5 350 300
$2.0
Southampton 250 $1.5 200
East Hampton
150
$1.0
100
Sag Harbor
$0.5 50 $0.0
0
2015
2016
2017
2018
*Price in Millions
Total Units Sold 21 137 53 93
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2019
Q3 Highlights All Hamptons
(east of the Shinnecock Canal)
Bridgehampton
$4.0
$3.5
$3.0
Southampton
$2.5
$2.0
$1.5
Sag Harbor East Hampton
$1.0
$0.5
Average Selling Price 3.7 $ 2.0 $ 1.7 $ 1.5 $
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
Bridgehampton
$-
*Price in Millions
Total Dollar Volume 13 % 47 % 16 % 24 %
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 -
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
-10%
-6%
-3%
-11%
0%
7%
Change
-20%
-19%
-26%
-50%
0%
-21%
2019
127
129
31
8
9
304
2018
141
137
32
9
9
328
2017
183
147
33
12
12
387
2016
163
122
44
16
14
359
2015
159
159
42
16
9
385
Q3 {2019 v 2018} {2019 v 2015}
*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
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 Q3 Market Update
at a glance {Q3 | 2019}
bridgehampton
21 Units Sold
-22
%
Change in Units Sold {2019 v 2018}
3.7m -25 $
Average Selling Price
%
Change in Average Selling Price {2019 v 2018}
|
Average Selling Price Total Units Sold $6,000,000
40 35
$5,000,000
30 $4,000,000
25 20
$3,000,000
15
$2,000,000
10 $1,000,000
5 -
$-
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
-25%
-31%
-22%
2019
$3,686,667
$2,062,500
21
2018
$4,918,402
$2,995,000
27
2017
$5,148,362
$2,329,000
36
2016
$5,507,365
$2,347,500
22
2015
$3,587,012
$2,815,650
38
Q3 {2019 v 2018}
Change
Bridgehampton
/ The Hamptons Q3 Market Update
|
Average Selling Price Total Units Sold $2,500,000
200 180
$2,000,000
160 140
$1,500,000
120 100
$1,000,000
80 60
$500,000
40 20
$-
-
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
17%
5%
-9%
2019
$2,005,500
$1,100,000
137
2018
$1,711,385
$1,050,000
151
2017
$1,343,539
$953,800
185
2016
$1,637,328
$855,000
153
2015
$1,743,961
$1,200,000
143
Q2 {2019 v 2018}
Change
The Hamptons Q3 Market Update / East Hampton
at a glance {Q3 | 2019}
east hampton
137 Units Sold
-9
%
Change in Units Sold {2019 v 2018}
2m
$
Average Selling Price
+17
%
Change in Average Selling Price {2019 v 2018}
at a glance {Q3 | 2019}
sag harbor
53 Units Sold
+18
%
Change in Units Sold {2019 v 2018}
1.7m +9 $
Average Selling Price
%
Change in Average Selling Price {2019 v 2018}
|
Average Selling Price Total Units Sold $3,000,000
90 80
$2,500,000
70
$2,000,000
60 50
$1,500,000
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
9%
16%
18%
2019
$1,738,669
$1,475,000
53
2018
$1,589,961
$1,275,000
45
2017
$1,863,274
$1,405,000
56
2016
$2,586,418
$1,325,000
68
2015
$1,525,639
$995,000
77
Q3 {2019 v 2018}
Change
Sag Harbor
/The Hamptons Q3 Market Update
|
Average Selling Price Total Units Sold $3,000,000
140
$2,500,000
120 100
$2,000,000
80 $1,500,000 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
-14%
-9%
-11%
2019
$1,540,470
$1,093,750
93
2018
$1,795,217
$1,200,000
105
2017
$2,060,750
$1,097,000
110
2016
$2,811,4040
$1,250,000
116
2015
$2,440,974
$1,500,000
127
Q3 {2019 v 2018}
Change
The Hamptons Q3 Market Update
/ Southampton
at a glance {Q3 | 2019}
southampton
(east of the Shinnecock Canal)
93 Units Sold
-11
%
Change in Units Sold {2019 v 2018}
1.5m -14 $
Average Selling Price
%
Change in Average Selling Price {2019 v 2018}
Significant Sales We celebrate the notable success of our associates and clients
EAST HAMPTON
West End Road, Unrivaled Location Last Asking Price $19,900,000
AMAGANSETT
Oceanviews in Amagansett South Last Asking Price $6,950,000 WATER MILL
Custom New Home Last Asking Price $4,850,000 BRIDGEHAMPTON
Sleek Modern in Bridgehampton Last Asking: $3,495,000 SOUTHAMPTON
Turnkey 2 Miles from the Beach Last Asking: $3,400,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons Significant Sales
/ The Hamptons Q3 Market Update
Exceptional Diamonds. Curated by Sotheby’s.
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