Hamptons Market Update | Q1 2015

Southampton, NY | web: 0037630

The Hamptons Market Update First Quarter 2015 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 Long Island Real Estate Reports.Throughout the Hamptons residential real estate market is defined as the 12 market 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.

Market Update According to data from the Long Island Real Estate Report, the performance of the Hamptons real estate market during the first quarter of 2015 pulled back from the same period last year, although still showed significant gains over 2013 levels. Overall, in the towns of Bridgehampton, East Hampton, Sag Harbor and Southampton, total units sold were 20 percent lower than the first quarter of 2014, correlating with an 18 percent decrease in total dollar volume. A notable exception to the overall trend, sales in the $10 million-and-up price range rose 57 percent in total units sold and 37 percent in dollar volume over the first quarter of 2014. By all measures, the Bridgehampton market showed the greatest strength with the median selling price up 73 percent, total units sold up 14 percent and dollar volume up a significant 98 percent over the already-high 2014 level, driven by upper-end sales. In East Hampton, while total units sold and dollar volume receded, the median selling price rose by 11 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 H. Bell, SVP, Brokerage Manager 35 Main Street | Sag Harbor, NY 11963

SOUTHAMPTON BROKERAGE | t: 631.283.0600 Alice H. Bell, SVP, Brokerage Manager 50 Nugent Street | Southampton, NY 11968

SIGNIFICANT SALES | Q1 2015

SOUTHAMPTON, NY | Last Asking: $12,900,000 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913

EAST HAMPTON, NY | Last Asking: $11,995,000 Southampton Brokerage James Dineen | Licensed Salesperson | 631.227.4923

WATER MILL, NY | Last Asking: $11,750,000 Bridgehampton Brokerage Dana Trotter| Associate Broker | 631.613.7345

SAG HARBOR, NY I Last Asking: $5,600,000 East Hampton Brokerage Edward A. Bruehl I Associate Broker I 631.907.8476 Rylan Jacka I Associate Broker I 631.907.8475

FEATURED LISTINGS

SAG HARBOR, NY I $10,900,000 I Web ID: 0056696 Southampton Brokerage Patricia Petrillo I Associate Broker I 631.227.4916

BRIDGEHAMPTON, NY | $7,995,000 | Web ID: 0037725 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316

WATER MILL, NY | $6,495,000 | Web ID: 0056364 Southampton Brokerage Deborah Srb | Associate Broker | 631.227.4926

MONTAUK, NY I $4,895,000 I Web ID: 0044577 East Hampton Brokerage William Williams I Associate Broker I 631.907.8465 Edward Petrie I Associate Broker I 631.907.8442

AMAGANSETT, NY I $4,500,000 I Web ID: 0045978 East Hampton Brokerage Rylan Jacka I Associate Broker I 631.907.8475

SAG HARBOR, NY | $1,295,000 | Web ID: 1050381 Sag Harbor Brokerage Michae Daly | Associate Broker | 631.613.7205

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1

BRIDGEHAMPTON Sagaponack In the heart of the Hamptons, amid superb beaches and sailing waters, Bridgehampton offers a blend of impressive estates, pastoral farmlands and picturesque wineries. This prestigious equestrian center is home to the Bridgehampton Polo Club, renowned Hampton Classic horse show and numerous riding stables. Bridgehampton’s lovely village offers fine boutiques, antique shops, galleries and restaurants. Cultural attractions include the Dan Flavin Art Institute of the Dia Art Foundation. The famed Atlantic Golf Club features a stunning Rees Jones course.

2011

2012

2013

2014

2015

% Change (2015 v 2014)

MEDIAN SELLING PRICE

$4,000,000

$2,140,000

$1,700,000

$2,075,000

$3,600,000

73%

AVERAGE SELLING PRICE

$4,435,962

$2,756,881

$2,324,722

$3,305,625

$5,720,797

73%

13

21

9

28

32

14%

SINGLE FAMILY HOMES | Q1

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1

EAST HAMPTON Amagansett, Montauk, Wainscott Picturesque East Hampton has been deemed America’s most beautiful village, where majestic elm trees, stately homes and old windmills dot the pastoral scenery.

Keeping its timeless character, this preservation-minded community offers sophisticated country living with a mix of historic charm and world-class amenities. The arts are a vibrant focus, with noted attractions including Guild Hall and the Hamptons International Film Festival. The fabled Maidstone Club, exquisite ocean beaches and prime sailing waters are highlights of the sporting life.

2011

2012

2013

2014

2015

% Change (2015 v 2014)

MEDIAN SELLING PRICE

$842,500

$850,000

$718,000

$1,024,750

$1,142,500

11%

AVERAGE SELLING PRICE

$1,235,871

$1,300,318

$1,160,146

$1,734,743

$1,609,176

-7%

84

83

67

162

123

-24%

SINGLE FAMILY HOMES | Q1

TOTAL UNITS SOLD

BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON

4

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1

SAG HARBOR North Haven, Noyack Steeped in maritime history, Sag Harbor was once a busy whaling port, now a beautifully preserved village in an enchanting setting that makes it a popular retreat for artists and writers. Residing along shady streets, its gracious homes feature many fine examples of 18th- and 19th-century architecture, some formerly the residences of sea captains. Lined with wonderful shops and restaurants, Main Street stretches down to the spectacular yacht-filled bay. Other attractions include lovely beaches, the Bay Street Theatre and landmark American Hotel.

2011

2012

2013

2014

2015

% Change (2015 v 2014)

MEDIAN SELLING PRICE

$1,150,000

$1,325,834

$519,900

$1,200,000

$935,000

-22%

AVERAGE SELLING PRICE

$1,718,098

$1,491,925

$897,031

$2,214,154

$1,506,108

-32%

23

20

13

49

43

-12%

SINGLE FAMILY HOMES | Q1

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q1

SOUTHAMPTON North Sea, Water Mill Endowed with miles of pristine beaches and excellent sailing waters, historic Southampton is an international resort destination famous for its hedged estates nestled in a bucolic seaside landscape. Select shops, galleries and restaurants line the quaint village streets. Home to the acclaimed Parrish Art Museum and Southampton Cultural Center, Southampton hosts an active calendar of cultural and social events. World-class golfing is available at the top-ranked courses of the landmark Shinnecock Hills Golf Club, Sebonack Golf Club and National Golf Links.

2011

2012

2013

2014

2015

% Change (2015 v 2014)

MEDIAN SELLING PRICE

$900,000

$1,300,000

$980,500

$1,362,500

$1,130,000

-17%

AVERAGE SELLING PRICE

$1,771,839

$2,764,151

$1,533,444

$2,505,938

$2,145,315

-14%

51

61

18

102

74

-27%

SINGLE FAMILY HOMES | Q1

TOTAL UNITS SOLD

5

sothebyshomes.com/hamptons

ALL HAMPTONS | 5 Years | Q1 Comparison SALES BY TOTAL DOLLAR VOLUME 2011

2012

2013

2014

2015

% CHANGE

% CHANGE

Up to $999,000

59,079,465

60,285,527

42,364,200

99,685,650

80,998,361

-19%

37%

$1M - $2.99M

89,657,795

97,112,800

48,036,500

208,246,794

178,406,905

-14%

99%

$3M - $5.99M

90,823,450

98,005,300

26,215,000

214,034,297

102,587,300

-52%

13%

$6M - $9.99M

34,300,000

22,619,000

6,300,000

88,001,000

67,895,025

-23%

98%

$10M and up

17,500,000

86,250,000

15,000,000

127,717,350

174,622,500

37%

898%

291,360,710

364,272,627

137,915,700

737,685,091

604,510,091

-18%

107%

PRICE RANGE

TOTAL

2014

(2015 v 2014)

(2015 v 2011)

2015

Up to $999,000

$1M-$2.99M

$3M-$5.99M

$6M-$9.99M

$10M and up

AVERAGE SELLING PRICE

BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON

6

ALL HAMPTONS | 5 Years | Q1 Comparison TOTAL UNITS SOLD 2011

2012

2013

2014

2015

% CHANGE

% CHANGE

UP TO $999,000

95

98

70

149

120

-19%

26%

$1M - $2.99M

50

56

28

121

106

-12%

112%

$3M - $5.99M

20

24

7

53

26

-51%

30%

$6M - $9.99M

5

3

1

11

9

-18%

80%

$10M AND UP

1

4

1

7

11

57%

1000%

171

185

107

341

272

-20%

59%

PRICE RANGE

TOTAL

(2015 v 2014)

(2015 v 2011)

2015

2014

Up to $999,000

$1M-$2.99M

$3M-$5.99M

$6M-$9.99M

$10M and up

MEDIAN SELLING PRICES

7

sothebyshomes.com/hamptons

FEATURED LISTINGS

WATER MILL, NY Web ID: 0056504 I $32,900,000 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913

MONTAUK, NY Web ID: 0046584 | $25,000,000 East Hampton Brokerage Rylan Jacka I Associate Broker I 631.907.8475 Edward Bruehl I Associate Broker I 631.907.8476

EAST HAMPTON, NY Web ID: 0037198 | $18,000,000 Bridgehampton/East Hampton Brokerages Angela Boyer-Stump Licensed Salesperson | 631.613.7345 Ed Petrie | Associate Broker | 631.907.8442 81OceanMainBeach.com