Southampton Village, NY | Web: 0057129
The Hamptons Market Update Fourth Quarter 2016 THE HAMPTONS BROKERAGES Bridgehampton Brokerage | t. 631.537.6000 East Hampton Brokerage | t. 631.324.6000 Sag Harbor Brokerage | t. 631.725.6000 Southampton Brokerage | t. 631.283.0600
sothebyshomes.com/hamptons
Market Update In the fourth quarter of 2016, the average sale price of Hamptons real estate dipped 23% and the median sale price declined 3% over the same period of the previous year, according to data compiled in the Long Island Real Estate Report. In the overall Hamptons market, total units sold were down by 34% from 442 units sold in fourth quarter of 2015 to 292 sales in fourth quarter of 2016. As a result, total dollar volume was 49% lower, falling to $642 million from $1.2 billion. Sag Harbor showed modest gains of 3% and 7% in both average sale price and median sale price, respectively. While the overall East Hampton average sale and median sale price was down year over year, homes that sold in the $3M to $6M price range showed double-digit increases in both average sale price and median sale price. Southampton showed mixed results with overall average sale price down 10% and median sale price up 34% year over year. BRIDGEHAMPTON BROKERAGE | t: 631.537.6000 Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 2446 Main Street | Bridgehampton, NY 11932
EAST HAMPTON BROKERAGE | t: 631.324.6000 Nanette Hansen, Brokerage Manager 6 Main Street | East Hampton, NY 11937
SAG HARBOR BROKERAGE | t: 631.725.6000 Nanette Hansen, Brokerage Manager 35 Main Street | Sag Harbor, NY 11963
SOUTHAMPTON BROKERAGE | t: 631.283.0600 Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 50 Nugent Street | Southampton, NY 11968
SIGNIFICANT SALES | Q4 2016
BRIDGEHAMPTON SOUTH, NY | Last Asking: $12,750,000 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316
WATER MILL, NY | Last Asking: $6,900,000 Southampton Brokerage Deborah Srb | Associate Broker | 631.227.4926
EAST HAMPTON, NY | Last Asking: $4,495,000 East Hampton Brokerage Kathy Konzet | Associate Broker | 631.907.8455 Rylan Jacka | Associate Broker | 631.907.8475
SOUTHAMPTON VILLAGE, NY | Last Asking: $2,600,000 Sag Harbor Brokerage Susan Schmidgall | Licensed Salesperson | 631.613.7199
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 Hamptons residential real estate market is defined as the 12 areas noted on pages 2 and 3. 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 $1-10M
MONTAUK, NY | $10,000,000 | Web: 0047423 East Hampton Brokerage Rylan Jacka | Associate Broker | 631.907.8475
SAGAPONACK SOUTH, NY | $6,995,000 | Web: 0038368 Bridgehampton / East Hampton Brokerages Marilyn Clark | Associate Broker | 631.613.7339 Frank E. Newbold | Associate Broker | 631.907.8471
EAST HAMPTON, NY | $5,500,000 | Web: 0046575 East Hampton Brokerage Ann Ciardullo | Associate Broker | 631.907.8475 Keith Green | Associate Broker | 631.907.8469
SOUTHAMPTON VILLAGE, NY | $3,195,000 | Web: 0057152 Southampton Brokerage DiAnne Gale | Licensed Salesperson | 631.227.4917
SAG HARBOR, NY | $2,800,000 | Web: 1050764 Bridgehampton Brokerage Robert Florio | Licensed Salesperson | 631.613.7206
SAG HARBOR VILLAGE, NY | $2,795,000 | Web: 1050765 Sag Harbor Brokerage Leslie Reingold | Licensed Salesperson | 631.227.4925
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
BRIDGEHAMPTON Sagaponack Centrally located, Bridgehampton enjoys open farm vistas, picturesque wineries, and a bustling historic village with an array of shops, restaurants, and galleries. Minutes away are miles of ocean beaches and bays with world class yachting. Home to the finest equestrian event, the Hampton Classic, as well as numerous art and music festivals, Bridgehampton offers a sophisticated cultural life. For the sporting enthusiast there are miles of scenic roads for biking, riding stables, and golf and tennis clubs including the famed Atlantic Golf Club.
$7,000,000
70
$6,000,000
60
$5,000,000
50
$4,000,000
40
$3,000,000
30
$2,000,000
20
$1,000,000
10
$-
2012
2013
Average Selling Price
2014
2015
Median Selling Price
-
2016
Total Units Sold
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$4,584,646
$4,766,968
$6,360,648
$5,567,246
$3,501,200
-37%
MEDIAN SELLING PRICE
$3,395,000
$3,500,000
$2,750,000
$3,225,000
$1,919,300
-40%
63
43
53
48
16
-67%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $3,000,000
250
$2,500,000
200
$2,000,000
EAST HAMPTON Amagansett, Montauk, Wainscott
$1,500,000
Voted one of the most beautiful villages in the world, East Hampton retains its historic charm while offering the top names of fashion and the culinary world in its shops and restaurants. A vibrant cultural life extends year round with Guild Hall, the Hamptons International Film Festival, art gallery exhibits and elegant fundraisers. Beautiful biking and strolling lanes shaded by majestic elm trees lead down to miles of ocean beaches and the famed Maidstone Club. Â Three Mile Harbor and Gardiners Bay offer prime waters for sailing or powerboating.
$1,000,000
150 100 50
$500,000 $-
2012
Average Selling Price
2013
2014
2015
Median Selling Price
2016
-
Total Units Sold
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$2,249,918
$1,414,628
$2,220,608
$2,438,525
$1,773,459
-27%
MEDIAN SELLING PRICE
$1,100,000
$900,000
$1,170,000
$1,150,000
$945,000
-18%
221
221
237
200
134
-33%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
SAG HARBOR North Haven, Noyack The historic whaling village of Sag Harbor exudes Victorian charm with a picturesque Main Street leading down to a busy wharf with some of the finest motor yachts in the world. Homes enjoy spectacular bay views dotted with sail boats. With a true port feel, Sag Harbor offers diverse dining options and unique boutiques with international wares. Famous artists and writers have been drawn to the rich cultural life and history of Sag Harbor, and the streets are filled with book stores and art galleries, a cinema and Bay Street Theatre.
$1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-
2012
2013
Average Selling Price
2014
2015
Median Selling Price
90 80 70 60 50 40 30 20 10 -
2016
Total Units Sold
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$1,461,543
$1,366,358
$1,653,453
$1,587,559
$1,634,892
3%
MEDIAN SELLING PRICE
$858,750
$965,000
$1,030,000
$1,135,000
$1,215,000
7%
70
85
72
66
46
-30%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $3,500,000
160
$3,000,000
140 120
$2,500,000
SOUTHAMPTON
100
$2,000,000
North Sea, Water Mill
80
$1,500,000
Southampton combines its pedigreed past with its contemporary international culture. Famed hedged estates lead down to miles of ocean beaches and bay waters perfect for swimming, sailing or just relaxing. Southampton enjoys a vibrant social calendar, including outdoor concerts and elegant fundraisers for charity and cultural institutions such as its highly regarded Parrish Art Museum. Home to famed Shinnecock and Sebonack Golf Clubs and National Golf Links, it is a draw for world-class golfing.
60
$1,000,000
40
$500,000 $-
20 2012
Average Selling Price
2013
2014
2015
Median Selling Price
2016
-
Total Units Sold
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$3,108,142
$2,975,463
$3,065,060
$3,161,578
$2,834,089
-10%
MEDIAN SELLING PRICE
$1,627,600
$1,329,500
$1,325,000
$1,582,500
$2,126,250
34%
114
142
145
128
97
-24%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
5
sothebyshomes.com/hamptons
ALL HAMPTONS | 5 Years | Q4 Comparison SALES BY TOTAL DOLLAR VOLUME 2012
2013
2014
2015
2016
% CHANGE
% CHANGE
Up to $999,000
$125,332,732
$160,758,214
$135,344,298
$116,448,506
$74,324,000
-36%
-41%
$1M - $2.99M
$267,367,616
$245,774,132
$356,608,879
$290,786,942
$218,592,178
-25%
-18%
$3M - $5.99M
$299,998,231
$221,227,160
$241,809,592
$258,358,306
$162,749,692
-37%
-46%
$6M - $9.99M
$205,323,200 $159,733,000
$147,900,000
$147,367,500
$97,174,748
-34%
-53%
$10M and up
$344,678,955
$545,218,000
$451,432,355
$89,043,149
-80%
-74%
TOTAL
$1,242,700,734 $1,056,268,616 $1,426,880,769 $1,264,393,609
$641,883,767
-49%
-48%
PRICE RANGE
2015
$268,776,110
(2016 v 2015)
(2016 v 2012)
2016
9%
14%
Up to $999,000 36%
23%
$1M - $2.99M $3M - $5.99M
12%
15%
$6M - $9.99M
34%
$10M and up 12%
Up to $999,000
25%
20%
$1M-$2.99M
$3M-$5.99M
$6M-$9.99M
$10M and up
AVERAGE SELLING PRICE 7.0 6.0 5.0 4.0 3.0 2.0 1.0 -
2012
2013 Bridgehampton
2014 East Hampton
2015 Sag Harbor
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
2016
Southampton
6
ALL HAMPTONS | 5 Years | Q4 Comparison TOTAL UNITS SOLD 2012
2013
2014
2015
2016
% CHANGE
% CHANGE
UP TO $999,000
204
250
203
173
108
-38%
-47%
$1M - $2.99M
142
149
202
165
124
-25%
-12%
$3M - $5.99M
72
54
59
62
40
-36%
-45%
$6M - $9.99M
28
22
19
20
13
-35%
-53%
$10M AND UP
22
16
24
22
7
-67%
-67%
468
491
507
442
292
-34%
-38%
PRICE RANGE
TOTAL
2015
2016
5%
(2016 v 2015)
(2016 v 2012)
4% 2%
5% 14%
14%
37%
39%
37%
Up to $999,000
43%
$1M-$2.99M
$3M-$5.99M
$6M-$9.99M
$10M and up
MEDIAN SELLING PRICES 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 -
2012
2013 Bridgehampton
7
2014 East Hampton
2015 Sag Harbor
2016
Southampton
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ON THE MARKET
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METROPOLITAN MARKETS NEW YORK, NY | Web: 0138486 | $5,250,000 GREENWICH, CT | Web: 0068267 | $5,300,000 SAN FRANCISCO, CA | Web: 0088189 | $5,695,000 RESORT MARKETS MONTECITO, CA | Web: 0114072 | $5,500,000 HAMPTONS, NY | Web: 0046575 | $5,500,000 NAPA VALLEY, CA | Web: 0244257 | $5,699,000 FOREIGN MARKETS BELGIUM | Web: HCGGW9 | 4.950.000 € GREECE | Web: SN3KDB | Price Upon Request SWITZERLAND | Web: YMDRPZ | 5’200’000 CHF sothebysrealty.com
FEATURED PROPERTIES $10M+
EAST HAMPTON, NY GeorgicaPondCompound.com $16,500,000 | Web: 0047481 East Hampton/ Bridgehampton Brokerages Frank E. Newbold | Associate Broker | 631.907.8471 Marilyn Clark | Associate Broker | 631.613.7339
SOUTHAMPTON VILLAGE, NY 110-OxPastureRoad.com $12,995,000 | Web: 0057156 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913
WATER MILL, NY 170ScuttleHole.com $12,995,000 | Web: 0038397 Bridgehampton Brokerage Cindy Shea | Associate Broker | 631.613.7325