Q1 | 2019
The Hamptons
Market Update
SOUTHAMPTON
Offered at $22,500,000 354SouthMainStreet.com
SOUTHAMPTON
Offered at $20,950,000 11ChristopherStreet.com
a message from
The Hamptons Brokerage Managers In the first quarter of 2019, the average sales price of Hamptons real estate east of Shinnecock Canal decreased year over year by 6%, from $2.27M in 2018 to $2.13M in 2019, according to data compiled by the Long Island Real Estate Report. The median sales price increased 12%, from $1.23M in 2018 to $1.38M in 2019. Overall, total units sold decreased 18%, from 330 units in first quarter of 2018 to 270 units in the first quarter of 2019. As a result, total dollar volume dipped 23% from $749M to $574M. 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 agents are wellversed 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 BRIDGEHAMPTON
Offered at $14,995,000 SothebysHomes.com/0048372
SAG HARBOR
Offered at $7,995,000 43Suffolk.com SOUTHAMPTON
Offered at $7,495,000 40HerrickRoad.com REMSENBURG
Offered at $4,595,000 SothebysHomes.com/1051158 SAG HARBOR
Offered at $1,500,000 SothebysHomes.com/1051139 *in order from left to right, top to bottom
sothebyshomes.com/hamptons
Featured Properties
/ The Hamptons Q1 Market Update
Market Snapshot All Hamptons
(east of the Shinnecock Canal)
Bridgehampton
450
$3.0
400 $2.5 350 300
$2.0
Southampton 250 $1.5 200 150
$1.0
East Hampton Sag Harbor
100 $0.5 50 $0.0
0
2015
2016
2017
2018
*Price in Millions
Total Units Sold 25 126 43 76
Average Selling Price vs. Total Units Sold
Bridgehampton
Average Selling Price
East Hampton
Total Units Sold
Sag Harbor Southampton
2019
Q1 Highlights All Hamptons
(east of the Shinnecock Canal)
$4.5
Bridgehampton
$4.0
Southampton
$3.5 $3.0 $2.5
Sag Harbor
$2.0 $1.5
East Hampton $1.0 $0.5
Average Selling Price 4.0 $ 2.2 $ 1.8 $ 1.6
$
Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions
Southampton
Sag Harbor
East Hampton
Bridgehampton
$-
*Price in Millions
Total Dollar Volume 17 % 48 % 13 % 21%
Bridgehampton East Hampton Sag Harbor Southampton
Q1 Highlights
/ The Hamptons Q1 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
-17%
-14%
-37%
-6%
-30%
-18%
Change
-45%
-28%
-33%
45%
-42%
-35%
2019
109
112
26
16
7
270
2018
132
130
41
17
10
330
2017
141
132
54
14
5
346
2016
170
137
40
8
9
364
2015
198
155
39
11
12
415
Q1 {2019 v 2018} {2019 v 2015 }
*Price in Millions
Sales & Price Comparison by Town All Hamptons | Five Years (east of the Shinnecock Canal)
$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
$4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0
2015
2016
2017
2018
Five Year Comparison
2019
/ The Hamptons Q1 Market Update
at a glance {Q1 | 2019}
bridgehampton
-7
%
Change in Average Selling Price {2019 v 2018}
-11
%
Change in Units Sold {2019 v 2018}
25 Units Sold
4.0m
$
Average Selling Price
|
Average Selling Price Total Units Sold 45
$6,000,000
40
$5,000,000
35 30
$4,000,000
25
$3,000,000
20 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
-7%
-3%
-11%
2019
$3,960,030
$3,200,000
25
2018
$4,240,018
$3,300,000
28
2017
$3,615,900
$3,369,000
18
2016
$3,639,910
$2,362,500
30
2015
$4,993,350
$2,978,500
42
Q1 {2019 v 2018}
Change
Bridgehampton
/ The Hamptons Q1 Market Update
|
Average Selling Price Total Units Sold 200
$2,500,000
180 160
$2,000,000
140 120
$1,500,000
100 80
$1,000,000
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
11%
34%
-20%
2019
$2,189,699
$1,400,000
126
2018
$1,976,605
$1,045,000
157
2017
$1,564,582
$955,000
173
2016
$2,332,953
$992.150
172
2015
$1,500,207
$957,500
180
Q1 {2019 v 2018}
Change
The Hamptons Q1 Market Update / East Hampton
at a glance {Q1 | 2019}
east hampton
+11
%
Change in Average Selling Price {2019 v 2018}
-20
%
Change in Units Sold {2019 v 2018}
126 Units Sold
2.2m
$
Average Selling Price
at a glance {Q1 | 2019}
sag harbor
+34
%
Change in Average Selling Price {2019 v 2018}
+5
%
Change in Units Sold {2019 v 2018}
43 $1.8m Units Sold
Average Selling Price
|
Average Selling Price Total Units Sold $2,500,000
80 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
34%
-5%
5%
2019
$1,763,673
$1,275,500
43
2018
$1,320,873
$1,340,000
41
2017
$2,163,615
$1,567,500
61
2016
$1,469,800
$972,500
70
2015
$1,350,056
$920,000
67
Q1 {2019 v 2018}
Change
Sag Harbor
/The Hamptons Q1 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
-37%
-38%
-27%
2019
$1,620,751
$852,000
76
2018
$2,560,784
$1,380,000
104
2017
$2,808,908
$1,595,000
94
2016
$2,266,817
$1,200,000
92
2015
$2,162,283
$1,130,000
126
Q1 {2019 v 2018}
Change
The Hamptons Q1 Market Update
/ Southampton
at a glance {Q1 | 2019}
southampton
(east of the Shinnecock Canal)
-37
%
Change in Average Selling Price {2019 v 2018}
-27
%
Change in Units Sold {2019 v 2018}
76 $1.6m Units Sold
Average Selling Price
Significant Sales We celebrate the notable success of our associates and clients
EAST HAMPTON
Exceptional Lee Avenue Estate Last Asking Price $20,000,000
EAST HAMPTON
Stylishly Updated East Hampton Estate Last Asking: $11,995,000 WATER MILL
Serenity in Water Mill with Tennis Last Asking: $7,495,000 SOUTHAMPTON
World-Class New Village Home with Pool Last Asking Price $5,400,000 EAST HAMPTON
Elegant, Turn-Key Homes, Private Setting Last Asking Price $1,695,000 *in order from left to right, top to bottom
sothebyshomes.com/hamptons Significant Sales
/ The Hamptons Q1 Market Update
UNRIVALED
GLOBAL PERFORMANCE
$112 BILLION ANOTHER RECORD YEAR IN ANNUAL GLOBAL SALES IN 2018
990 22,500 72 OFFICES
AGENTS
COUNTRIES
1 3 OUT OF
OFFICES IS OUTSIDE OF THE UNITED STATES
31 MILLION VISITS TO SOTHEBYSREALTY.COM 13% INCREASE YEAR OVER YEAR
180,000 YOUTUBE SUBSCRIBERS SILVER CREATOR AWARD WINNER
Featured Property:
40DUNEROAD.COM | BRIDGEHAMPTON, NY 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.