Hamptons Market Update | Q2 2014

Shelter Island, NY | web: 0037231

The Hamptons Market Update Second 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 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.

Market Update Compared to the same time last year, overall median prices in the Hamptons have increased, according to the Long Island Real Estate Report. The $1-2.99 million price category saw an increase of 17 percent both in total units sold and in sales by total dollar volume versus the same time last year. Sales activity was strongest in Sag Harbor, where total units sold increased 29 percent. Median selling prices rose most significantly in East Hampton by ten percent followed

by Bridgehampton at four 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 Temporary address same as Southampton Brokerage

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

SIGNIFICANT SALES | Q2 2014

SOUTHAMPTON, NY | Last Asking: $98,000,000 Southampton/East Hampton Brokerages Harald Grant | Associate Broker | 631.227.4913 Edward R. Petrie | Associate Broker | 631.907.8442

SAGAPONACK, NY | Last Asking: $10,950,000 Bridgehampton Brokerage Sharon Stern | Licensed Salesperson | 631.613.7330

WATER MILL, NY | Last Asking: $12,500,000 Southampton Brokerage Christina M. Galesi | Licensed Salesperson | 631.227.4919

EAST HAMPTON, NY | Last Asking: $6,600,000 East Hampton Brokerage Ann Ciardullo | Associate Broker | 631.907.8470

FEATURED LISTINGS

EAST HAMPTON, NY | $21,500,000 | Web ID: 0046256 East Hampton Brokerage Patricia Wadzinski | Associate Broker | 631.907.8454 Edward R. Petrie | Associate Broker | 631.907.8442

WATER MILL, NY | $14,000,000 | Web ID: 0056416 Southampton Brokerage Walter F. Glennon | Licensed Salesperson | 631.227.4912

EAST HAMPTON, NY | $9,750,000 | Web ID: 0037403 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316

MONTAUK, NY | $7,700,000 | Web ID: 0046365 East Hampton Brokerage Rylan Jacka | Associate Broker | 631.907.8475

SOUTHAMPTON, NY | $5,750,000 | Web ID: 0055982 Southampton Brokerage Michael Conroy | Licensed Salesperson | 631.227.4942

SAG HARBOR, NY | $2,195,000 | Web ID: 1050348 Sag Harbor Brokerage Michael Daly | Associate Broker | 631.613.7205 Robert Florio | Licensed Salesperson | 631.613.7206

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

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)

MEDIAN SELLING PRICE

$2,150,000

$3,100,000

$3,325,000

$2,037,500

$2,125,000

4%

AVERAGE SELLING PRICE

$4,269,087

$4,447,667

$4,707,800

$3,378,512

$2,988,286

-12%

23

33

40

40

35

-13%

SINGLE FAMILY HOMES | Q2

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

EAST HAMPTON Amagansett, Montauk, Wainscott

2010

2011

2012

2013

2014

% Change (2014 v 2013)

MEDIAN SELLING PRICE

$865,000

$999,500

$970,000

$990,000

$1,090,000

10%

AVERAGE SELLING PRICE

$1,338,868

$1,588,100

$1,646,978

$1,994,783

$1,851,354

-7%

140

122

163

187

154

-18%

SINGLE FAMILY HOMES | Q2

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 | Q2

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)

MEDIAN SELLING PRICE

$932,500

$910,000

$710,000

$975,000

$950,000

-3%

AVERAGE SELLING PRICE

$1,407,884

$2,370,793

$1,074,782

$1,662,143

$1,416,038

-15%

37

29

39

35

45

29%

SINGLE FAMILY HOMES | Q2

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

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)

MEDIAN SELLING PRICE

$1,441,000

$1,650,000

$1,235,000

$1,484,500

$1,350,000

-9%

AVERAGE SELLING PRICE

$1,915,122

$2,789,575

$2,068,310

$2,765,703

$2,134,633

-23%

84

97

102

94

86

-9%

SINGLE FAMILY HOMES | Q2

TOTAL UNITS SOLD

5

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ALL HAMPTONS | 5 Years | Q2 Comparison SALES BY TOTAL DOLLAR VOLUME 2010

2011

2012

2013

2014

% CHANGE

% CHANGE

Up to $999,000

95,631,693

73,418,727

104,652,014

105,674,453

90,471,141

-14%

-5%

$1M - $2.99M

171,368,739

197,033,300

230,131,120

201,126,107

235,889,980

17%

38%

$3M - $5.99M

132,342,000

142,365,999

120,791,250

215,810,433

141,096,500

-35%

7%

$6M - $9.99M

55,750,000

68,345,000

105,021,230

82,295,000

73,966,018

-10%

33%

$10M and up

43,500,000

198,700,000

149,058,000

221,410,000

95,575,000

-57%

120%

498,592,432

679,863,026

709,653,614

826,315,993

636,998,639

-23%

28%

PRICE RANGE

TOTAL

2012

(2014 v 2013)

(2014 v 2010)

2013

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 | Q2 Comparison TOTAL UNITS SOLD 2010

2011

2012

2013

2014

% CHANGE

% CHANGE

UP TO $999,000

145

116

164

166

136

-18%

-6%

$1M - $2.99M

96

112

127

114

133

17%

39%

$3M - $5.99M

34

35

30

54

33

-39%

-3%

$6M - $9.99M

8

9

14

11

10

-9%

25%

$10M AND UP

1

9

9

11

8

-27%

700%

284

281

344

356

320

-10%

13%

PRICE RANGE

TOTAL

2012

(2014 v 2013)

(2014 v 2010)

2013

Up to $999,000

$1M-$2.99M

$3M-$5.99M

$6M-$9.99M

$10M and up

MEDIAN SELLING PRICES

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FEATURED LISTINGS

EAST HAMPTON, NY Web ID: 0046363 | $75,000,000 East Hampton Brokerage Edward R. Petrie | Associate Broker | 631.907.8442

NORTH HAVEN, NY Web ID: 0056481 | $65,000,000 Southampton Brokreage Harald Grant | Associate Broker | 631.227.4913

BRIDGEHAMPTON, NY Web ID: 0036492 | Price Upon Request Bridgehampton Brokerage Dana Trotter | Associate Broker | 631.613.7346