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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