The Hamptons Market Update | Q4 2018

Q4 | 2018

The Hamptons

Market Update

BRIDGEHAMPTON SOUTH

Offered at $34,000,000 BestBridgehamptonOceanfront.com

EAST HAMPTON

Offered at $7,995,000 SothebysHomes.com/0048275

a message from

The Hamptons Brokerage Managers In the fourth quarter of 2018, the average sales price of Hamptons real estate east of Shinnecock Canal increased year over year by 3%, from $2.26M in 2017 to $2.33M in 2018, according to data compiled by the Long Island Real Estate Report. At the same time, the median sales price increased by 4% from $1.25M in 2017 to $1.30M in 2018. Overall, total units sold decreased 9% from 424 units in fourth quarter of 2017 to 384 units in the fourth quarter of 2018. As a result, total dollar volume dipped 7%, to $894M from $959M. 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 WATER MILL

Offered at $19,500,000 475FlyingPointRoad.com

SOUTHAMPTON

Offered at $4,850,000 SothebysHomes.com/0048250 SOUTHAMPTON

Offered at $4,975,000 2MillFarmLane.com SAG HARBOR

Offered at $4,250,000 11-HowardStreet.com EAST HAMPTON

Offered at $2,995,000 22MileHillRoad.com *in order from left to right, top to bottom

sothebyshomes.com/hamptons

Featured Properties

/ The Hamptons Q4 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

2014

2015

2016

2017

*Price in Millions

Total Units Sold 30 180 66 107

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2018

Q4 Highlights All Hamptons

(east of the Shinnecock Canal)

Bridgehampton

$6.0

$5.0

Southampton $4.0

$3.0

Sag Harbor

$2.0

East Hampton

$1.0

Average Selling Price 4.8 $ 2.1 $ 1.9 $ 2.3

$

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 16 % 43 % 14 % 27 %

Bridgehampton East Hampton Sag Harbor Southampton

Q4 Highlights

/ The Hamptons Q4 Market Update

Units Sold Comparison All Hamptons | Five Years (east of the Shinnecock Canal)

600

500

400

300

200

100

-

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

-15%

-18%

9%

50%

8%

-10%

Change

-25%

-31%

2%

26%

-42%

-23%

2018

147

138

60

24

14

383

2017

172

168

55

16

13

424

2016

163

154

49

14

7

387

2015

173

165

62

20

22

442

2014

197

201

59

19

24

500

Q4 {2018 v 2017} {2018 v 2014}

*Price in Millions

Sales & Price Comparison by Town All Hamptons | Five Years (east of the Shinnecock Canal)

$7.0 $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

2014

2015

2016

2017

2018

Average Selling Price

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 Q4 Market Update

at a glance {Q4 | 2018}

bridgehampton

+25

%

Change in Average Selling Price {2018 v 2017}

-17

%

Change in Units Sold {2018 v 2017}

30 Units Sold

4.8m

$

Average Selling Price

|

Average Selling Price Total Units Sold $7,000,000

60

$6,000,000

50

$5,000,000

40

$4,000,000 30 $3,000,000 20

$2,000,000

10

$1,000,000 $-

-

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

25%

49%

-17%

2018

$4,769,531

$4,537,500

30

2017

$3,825,794

$3,050,000

36

2016

$3,400,465

$2,213,599

21

2015

$5,567,246

$3,225,000

48

2014

$6,360,648

$2,750,000

53

Q4 {2018 v 2017}

Change

Bridgehampton

/ The Hamptons Q4 Market Update

|

Average Selling Price Total Units Sold $3,000,000

250

$2,500,000

200

$2,000,000

150

$1,500,000 100 $1,000,000 50

$500,000

-

$-

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

18%

16%

-13%

2018

$2,111,244

$1,250,000

180

2017

$1,791,745

$1,075,000

207

2016

$1,550,048

$950,000

175

2015

$2,438,525

$1,150,000

200

2014

$2,242,026

$1,187,500

234

Q4 {2018 v 2017}

Change

The Hamptons Q4 Market Update / East Hampton

at a glance {Q4 | 2018}

east hampton

+18

%

Change in Average Selling Price {2018 v 2017}

-13

%

Change in Units Sold {2018 v 2017}

180 Units Sold

2.1m

$

Average Selling Price

at a glance {Q4 | 2018}

sag harbor

+12

%

Change in Average Selling Price {2018 v 2017}

-4

%

Change in Units Sold {2018 v 2017}

66 $1.9m Units Sold

Average Selling Price

|

Average Selling Price Total Units Sold $1,900,000

70

$1,850,000

69

$1,800,000 $1,750,000

68

$1,700,000

67

$1,650,000 $1,600,000

66

$1,550,000

65

$1,500,000 $1,450,000

64

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

12%

8%

-4%

2018

$1,858,570

$1,379,000

66

2017

$1,663,984

$1,280,000

69

2016

$1,628,692

$1,140,000

69

2015

$1,587,559

$1,135,000

66

2014

$1,714,067

$1,160,000

69

Q4 {2018 v 2017}

Change

Sag Harbor

/The Hamptons Q4 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 -

$-

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

-24%

-31%

-4%

2018

$2,280,997

$1,120,000

107

2017

$3,000,012

$1,616,500

112

2016

$3,109,267

$1,836,250

122

2015

$3,161,578

$1,582,500

128

2014

$3,076,574

$1,318,108

144

Q4 {2018 v 2017}

Change

The Hamptons Q4 Market Update

/ Southampton

at a glance {Q4 | 2018}

southampton

(east of the Shinnecock Canal)

-24

%

Change in Average Selling Price {2018 v 2017}

-4

%

Change in Units Sold {2018 v 2017}

107 $2.3m Units Sold

Average Selling Price

Significant Sales We celebrate the notable success of our associates and clients

EAST HAMPTON

Exceptional Further Lane Estate Last Asking Price $14,995,000

SOUTHAMPTON

Better Than New Estate Last Asking Price $12,400,000 EAST HAMPTON

Grey Gardens Carriage House Last Asking: $8,950,000 SAGAPONACK

Ocean Sunrises & Pond Sunsets Last Asking Price $8,950,000 SAG HARBOR

Sag Harbor’s L’Hommedieu House Last Asking Price $4,950,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons Significant Sales

/ The Hamptons Q4 Market Update

PHOTO BY PAUL VAN COTTHEM ON UNSPLASH

w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com

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