Q4 | The Hamptons Market Report

Q4 | 2019

The Hamptons

Market Update

SOUTHAMPTON

Offered at $24,995,000 310FirstNeckLane.com

SAGAPONACK

Offered at $39,000,000 135Crestview.com

a message from

The Hamptons Brokerage Managers The big winner in the final quarter of 2019 was the number of properties sold above $10M. According to the Long Island Real Estate Report, sales in the $10M+ category nearly doubled during this period, from 10 sales in Q4 2018 to 19 sales in Q4 2019. Drilling down further on fourth quarter results, the average selling price east of the canal shot up 19% year-over-year, from $2.3M in Q4 2018 to $2.9M for Q4 2019, and the total number of sales increased 7% year-over-year, from 276 properties sold in Q4 2018 to 294 properties in Q4 2019.

Nearly all price categories saw an increase in both total sales and total dollar volume year-over-year, except for properties below $1M, which had a 4% dip, from $74M in Q4 2018 to $70.9M in Q4 2019. Slightly outperforming other areas of the Hamptons, Southampton doubled its total sales volume from Q4 2018 to Q4 2019; the average selling price in Southampton spiked 50% from $2.3M in Q4 2018 to $3.5M in Q4 2019. Bridgehampton followed suit with a 45% uptick in the number of properties sold in Q4 2019, from 22 sales in Q4 2018 to 32 sales in Q4 2019. 128 units sold in East Hampton in Q4 2019, 5% fewer than the same quarter 2018 while average selling price dipped 9% from 2.2M to 2M in Q4. In Sag Harbor, total units sold decreased 30% from the same time last year, but average selling price was up 17%, to $2.2M. In 2020 and beyond, Sotheby’s International Realty – Hamptons Brokerages are uniquely positioned to service the needs of discriminating buyers, sellers and renters. A global luxury leader, Sotheby’s International Realty has nearly 1,000 offices around the world in 71 countries and territories. In the Hamptons, Sotheby’s International Realty operates three local offices located in Southampton, Bridgehampton and East Hampton. Sotheby’s International Realty has approximately 140 affiliated agents in the Hamptons who are trusted real estate advisors. Our brokers are well-versed in zoning, building and rental codes specific to each hamlet in the Hamptons. Our goal is to pair exceptional properties with exceptional clients while offering professional, white glove service. We would be pleased to partner with you to achieve your real estate goals, whether buying or selling your home, renting or referring you to one of our real estate partners nationally or internationally.

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 NORTH HAVEN

Offered at $18,000,000 60Forest.com

SAG HARBOR

Offered at $4,950,000 SothebysHomes.com/0058006 AMAGANSETT

Offered at $3,850,000 65CrossHwy.com SAG HARBOR

Offered at $3,850,000 21WestWaterStreet.com AMAGANSETT

Offered at $2,450,000 SothebysHomes.com/0048646 *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 Bridgehampton

$3.0

500 450

$2.5

400 350

$2.0

Southampton Southampton

300 $1.5

250 200

East Hampton East Hampton

$1.0

150 100

$0.5

Sag Harbor Sag Harbor

50 $0.0

0

2015

2016

2017

2018

*Price in Millions

Total Units Sold 32 128 30 104

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2019

Q4 Highlights All Hamptons

(east of the Shinnecock Canal)

$7.0

Bridgehampton $6.0

$5.0

Southampton

$4.0

$3.0

East Hampton

$2.0

$1.0

Sag Harbor

Average Selling Price 5.7 $ 2.0 $ 2.2 $ 3.5 $

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 21 % 31 % 7% 41 %

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)

500 450 400 350 300 250 200 150 100 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

-2%

9%

5%

0%

90%

7%

Change

-40%

-34%

-27%

-15%

-14%

-33%

2019

104

109

45

17

19

294

2018

106

100

43

17

10

276

2017

172

168

55

16

13

424

2016

163

154

49

14

7

387

2015

173

165

62

20

22

442

Q4 {2019 v 2018} {2019 v 2015}

*Price in Millions

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

$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

2015

2016

2017

2018

Average Selling Price

2019

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

2015

2016

2017

Five Year Comparison

2018

2019

/ The Hamptons Q4 Market Update

at a glance {Q4 | 2019}

bridgehampton

32 Units Sold

45

%

Change in Units Sold {2019 v 2018}

5.7m 3.0 $

Average Selling Price

%

Change in Average Selling Price {2019 v 2018}

|

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 $-

-

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

3%

-14%

45%

2019

$5,736,268

$3,900,000

32

2018

$5,594,489

$4,537,500

22

2017

$3,935,103

$3,050,000

36

2016

$3,400,465

$2,213,599

21

2015

$5,567,246

$3,225,000

48

Q4 {2019 v 2018}

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 $-

-

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

-9%

-11%

-5%

2019

$2,017,737

$1,108,750

128

2018

$2,217,598

$1,250,000

135

2017

$1,791,745

$1,075,000

207

2016

1,550,048

$950,000

175

2015

$2,438,525

$1,150,000

200

Q4 {2019 v 2018}

Change

The Hamptons Q4 Market Update / East Hampton

at a glance {Q4 | 2019}

east hampton

128 Units Sold

-5

%

Change in Units Sold {2019 v 2018}

2.0 m

$

Average Selling Price

-9

%

Change in Average Selling Price {2019 v 2018}

at a glance {Q4 | 2019}

sag harbor

30 Units Sold

-30

%

Change in Units Sold {2019 v 2018}

2.2m +17 $

Average Selling Price

%

Change in Average Selling Price {2019 v 2018}

|

Average Selling Price Total Units Sold 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

17%

12%

-30%

2019

$2,237,750

$1,547,500

30

2018

$1,914,556

$1,379,000

43

2017

$1,663,984

$1,280,000

69

2016

$1,628,692

$1,140,000

69

2015

$1,587,559

$1,135,000

66

Q4 {2019 v 2018}

Change

Sag Harbor

/ The Hamptons Q4 Market Update

|

Average Selling Price Total Units Sold $4,000,000

140

$3,500,000

120

$3,000,000

100

$2,500,000

80

$2,000,000 60

$1,500,000

40

$1,000,000

20

$500,000

-

$-

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

50%

60%

37%

2019

$3,459,565

$1,793,750

104

2018

$2,310,362

$1,120,000

76

2017

$3,000,012

$1,616,500

112

2016

$3,109,267

$1,836,250

122

2015

$3,161,578

$1,582,500

128

Q4 {2019 v 2018}

Change

The Hamptons Q4 Market Update

/ Southampton

at a glance {Q4 | 2019}

southampton

(east of the Shinnecock Canal)

104 Units Sold

+37

%

Change in Units Sold {2019 v 2018}

3.5m +50 $

Average Selling Price

%

Change in Average Selling Price {2019 v 2018}

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

SOUTHAMPTON

Normandy House on Lake Agawam Last Asking Price $24,900,000

BRIDGEHAMPTON

Scenic Pondfront Last Asking Price $15,100,000 BRIDGEHAMPTON

Oceanfron Cottage Last Asking Price $14,995,000 WATER MILL

Magnificent Estate on 1.46-Acre Peninsula Last Asking Price $14,500,000 SAG HARBOR

Luxury Reimagined Last AskingPrice $7,995,000 *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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