Sag Harbor, NY | web: 0056408
The Hamptons Market Update First Quarter 2014 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 All data in this report is pulled from The Real Estate Report, Inc.Throughout this Market Update the Hamptons residential real estate market is defined as the 12 market areas noted on pages 4 and 5. 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. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. 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.
Market Update Surging with momentum in the first quarter of 2014, the Hamptons real estate market posted robust across-theboard gains over the same period last year, according to The Real Estate Report, Inc. In overall Bridgehampton, East Hampton, Sag Harbor and Southampton sales, total dollar volume soared a dramatic 319 percent, while total units sold increased 140 percent. In both categories, the most significant gains were concentrated in price ranges from $3 million to over $10 million. Sales activity was strongest in Southampton, where the total units sold increased by 322 percent. Median selling prices rose significantly in each area, led by Sag Harbor at 201 percent. BRIDGEHAMPTON BROKERAGE | t: 631.537.6000 Debra Reece, VP, Brokerage Manager 2446 Main Street | Bridgehampton, NY 11932
EAST HAMPTON BROKERAGE | t: 631.324.6000 John Gicking, VP, Brokerage Manager 6 Main Street | East Hampton, NY 11937
SAG HARBOR BROKERAGE | t: 631.725.6000 Alice Bell, SVP, Brokerage Manager 7 Spring Street | Sag Harbor, NY 11963
SOUTHAMPTON BROKERAGE | t: 631.283.0600 Alice Bell, SVP, Brokerage Manager 50 Nugent Street | Southampton, NY 11968
SIGNIFICANT SALES | Q1 2014
SAG HARBOR | Last Asking: $36,000,000 Southampton Brokerage | HARALD GRANT Senior Global Real Estate Advisor | Associate Broker | 631.227.4913
EAST HAMPTON | Last Asking: $29,950,000 East Hampton Brokerage | EDWARD R. PETRIE | Senior Global Real Estate Advisor | Associate Broker | 631.907.8442 Southampton Brokerage | HARALD GRANT | Senior Global Real Estate Advisor | Associate Broker | 631.227.4913
BRIDGEHAMPTON | Last Asking: $15,995,000 Bridgehampton Brokerage | BEATE V. MOORE Senior Global Real Estate Advisor | Associate Broker | 631.613.7316
EAST HAMPTON | Last Asking: $1,995,000 Sag Harbor Brokerage | MICHAEL F. DALY | Global Real Estate Advisor Associate Broker | 631.613.7205 ROBERT FLORIO | Licensed Salesperson | 631.613.7206
FEATURED LISTINGS
SAGAPONACK | Web ID: 0045926 | $8,995,000 East Hampton Brokerage | RYLAN JACKA Senior Global Real Estate Advisor | Associate Broker | 631.907.8475
SOUTHAMPTON | Web ID: 0056221 | $7,495,000 Southampton Brokerage | ANN MARIE DEANE Global Real Estate Advisor | Associate Broker | 631.227.4922
WATER MILL | Web ID: 0037256 | $5,100,000 Bridgehampton Brokerage | BEATE V. MOORE Senior Global Real Estate Advisor | Associate Broker | 631.613.7316
BRIDGEHAMPTON | Web ID: 0037429 | $4,495,000 Bridgehampton Brokerage | DANA TROTTER Senior Global Real Estate Advisor | Associate Broker | 631.613.7346
AMAGANSETT | Web ID: 0046139 | $3,152,000 East Hampton Brokerage | PATRICIA WADZINSKI Senior Global Real Estate Advisor | Associate Broker | 631.907.8454
SHELTER ISLAND | Web ID: 1050334 | $2,795,000 Sag Harbor Brokerage | MICHAEL F. DALY | Global Real Estate Advisor Associate Broker | 631.613.7205 ROBERT FLORIO | Licensed Salesperson | 631.613.7206
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
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.
2010
2011
2012
2013
2014
% Change (2014 v 2013)
AVERAGE SELLING PRICE
$3,973,800
$4,435,962
$2,756,881
$2,324,722
$3,787,614
63%
MEDIAN SELLING PRICE
$2,931,250
$4,000,000
$2,140,000
$1,700,000
$3,200,000
88%
18
13
21
9
22
144%
SINGLE FAMILY HOMES | Q1
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
EAST HAMPTON Amagansett, Montauk, Wainscott
2010
2011
2012
2013
2014
% Change (2014 v 2013)
AVERAGE SELLING PRICE
$1,930,660
$1,235,871
$1,300,318
$1,160,146
$1,582,430
36%
MEDIAN SELLING PRICE
$1,200,000
$842,500
$850,000
$718,000
$990,000
38%
107
84
83
67
119
78%
SINGLE FAMILY HOMES | Q1
TOTAL UNITS SOLD
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
Scenic Photography provided by Jake Rajs
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.
4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
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.
2010
2011
2012
2013
2014
% Change (2014 v 2013)
AVERAGE SELLING PRICE
$1,695,201
$1,718,098
$1,491,925
$897,031
$2,506,497
179%
MEDIAN SELLING PRICE
$675,000
$1,150,000
$1,325,834
$519,900
$1,562,500
201%
21
23
20
13
40
208%
SINGLE FAMILY HOMES | Q1
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1
SOUTHAMPTON North Sea, Water Mill 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 worldclass golfing.
2010
2011
2012
2013
2014
% Change (2014 v 2013)
AVERAGE SELLING PRICE
$1,822,528
$1,771,839
$2,764,151
$1,533,444
$2,705,497
76%
MEDIAN SELLING PRICE
$1,375,000
$900,000
$1,300,000
$980,500
$1,405,000
43%
74
51
61
18
76
322%
SINGLE FAMILY HOMES | Q1
TOTAL UNITS SOLD
5
sothebyshomes.com/hamptons
ALL HAMPTONS | 5 Years | Q1 Comparison SALES BY TOTAL DOLLAR VOLUME 2010
2011
2012
2013
2014
% CHANGE
% CHANGE
Up to $999,000
55,840,623
59,079,465
60,285,527
42,364,200
71,944,148
70%
29%
$1M - $2.99M
175,479,760
89,657,795
97,112,800
48,036,500
156,979,494
227%
-11%
$3M - $5.99M
77,660,000
90,823,450
98,005,300
26,215,000
176,772,297
574%
128%
$6M - $9.99M
62,495,000
34,300,000
22,619,000
6,300,000
81,101,000
1187%
30%
$10M and up
77,099,900
17,500,000
86,250,000
15,000,000
90,717,350
505%
18%
448,575,283
291,360,710
364,272,627
137,915,700
577,514,289
319%
29%
PRICE RANGE
TOTAL 2013
4%
2014
11%
16%
31%
(2014 v 2013)
12%
14%
19%
27%
31%
35%
Up to $999,000
(2014 v 2010)
$1M-$2.99M
$3M-$5.99M
$6M-$9.99M
$10M and up
AVERAGE SELLING PRICE $5.0 $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $-
2010
2011 Bridgehampton
2012 East Hampton
2013 Sag Harbor
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
2014
Southampton
6
ALL HAMPTONS | 5 Years | Q1 Comparison TOTAL UNITS SOLD 2010
2011
2012
2013
2014
% CHANGE
% CHANGE
Up to $999,000
86
95
98
70
107
53%
24%
$1M - $2.99M
99
50
56
28
91
225%
-8%
$3M - $5.99M
20
20
24
7
44
529%
120%
$6M - $9.99M
9
5
3
1
10
900%
11%
$10M and up
6
1
4
1
5
400%
-17%
220
171
185
107
257
140%
17%
PRICE RANGE
TOTAL 2013
(2014 v 2013)
(2014 v 2010)
2014
Up to $999,000
$1M-$2.99M
$3M-$5.99M
$6M-$9.99M
$10M and up
MEDIAN SELLING PRICES $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $-
2010
2011 Bridgehampton
7
2012 East Hampton
2013 Sag Harbor
2014
Southampton
sothebyshomes.com/hamptons
Auction & Exhibition Calendar 2014
16 29
NEW YORK APRIL A Modern Library: The Gordon Waldorf Collection John James Audubon: The Birds of America, The Viviparous Quadrupeds of North America The Inventive Eye: Photographs from a Private Collection Photographs Important Russian Works of Art, European Silver, and Vertu American Paintings, Drawings & Sculpture Magnificent Jewels
1 8 9 16 29 29 30
LONDON APRIL Made in Britain The Orientalist Sale Arts of the Islamic World Finest and Rarest Wines Furniture Collections Travel, Atlases, Maps & Natural History Old Master & British Paintings
1 1
2 8
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© MMXIV SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. ALL RIGHTS RESERVED. SOTHEBY’S INTERNATIONAL REALTY® IS A REGISTERED TRADEMARK LICENSED TO
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1
PARIS APRIL Picasso and the Nude: Fifty Drawings from the Marina Picasso Collection
Shown Above Left: WILLARD LEROY METCALF (1858 – 1925) A SEASIDE PASTURE SIGNED W L METCALF (LOWER LEFT) OIL ON CANVAS PAINTED IN 1910. 26 BY 29 INCHES (66 BY 73.7 CM) AMERICAN PAINTINGS, DRAWINGS & SCULPTURE NEW YORK 16 APRIL 2014
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FEATURED LISTINGS
SOUTHAMPTON Web ID: 0056228 | $26,000,000 Southampton Brokreage PATRICIA J PETRILLO Senior Global Real Estate Advisor Associate Broker | 631.227.4916
BRIDGEHAMPTON Web ID: 0037408 | $16,000,000 Bridgehampton Brokerage BEATE V. MOORE Senior Global Real Estate Advisor Associate Broker | 631.613.7316
EAST HAMPTON Web ID: 0046265 | $14,900,000 East Hampton Brokerage ANN CIARDULLO Global Real Estate Advisor Associate Broker | 631.907.8470