East Hampton, NY | web: 0046769
The Hamptons Market Update Second 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. 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 In the second quarter of 2015, median selling prices in the overall Hamptons real estate market rose 7% over the same period last year, according to data compiled in the Long Island Real Estate Report. Price increases were most significant in the town of Bridgehampton, posting a 28% gain, followed by Sag Harbor at 24% and Southampton at 12%. In East Hampton, prices held nearly steady, with a slight, 1% decline. Sales activity increased in the higher price ranges of the market, where the number of total units sold was up 50% in the $6,000,000-to-$9,999,999 range and 22% in the $10,000,000-and-up range, but overall total units sold at all price points pulled back 30% from 2014 levels. Similarly, total dollar volume was 24% lower overall, although posting a 48% gain in the $6,000,000-to-$9,999,999 price range. Total dollar volume changes also varied by town – while other local areas performed at lower levels than last year, Southampton posted an 11% gain. 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 | Q2 2015
SOUTHAMPTON, NY | Last Asking: $5,095,000 Bridgehampton Brokerage Sharon Stern | Licensed Salesperson | 631.613.7330
EAST HAMPTON, NY | Last Asking: $21,000,000 East Hampton Brokerage Rebekah Baker | Licensed Salesperson | 631.907.8468
SOUTHAMPTON, NY | Last Asking: $7,295,000 Southampton Brokerage Ann Marie Deane | Associate Broker | 631.227.4922
WAINSCOTT, NY I Last Asking: $16,900,000 East Hampton Brokerage Edward Petrie I Associate Broker I 631.907.8442
FEATURED LISTINGS
AMAGANSETT, NY | $5,950,000 | Web ID: 0045969 Sag Harbor/ East Hampton Brokerages Melissa Green | Licensed Salesperson | 631.613.7211 Rylan Jacka I Associate Broker I 631.907.8475
BRIDGEHAMPTON, NY I $5,795,000 I Web ID: 0056595 Southampton Brokerage Hedy Tufo I Licensed Salesperson I 631.227.4948
BRIDGEHAMPTON, NY | $5,650,000 | Web ID: 0037844 Bridgehampton Brokerage Marilyn Clark | Associate Broker | 631.613.7339 Eve Combemale | Licensed Salesperson | 631.613.7335
WATER MILL, NY | $5,600,000 | Web ID: 0037589 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316
WATER MILL, NY | $5,250,000 | Web ID: 0056780 Southampton Brokerage Thomas Raffo | Associate Broker | 631.227.4940
SAG HARBOR, NY I $2,195,000 I Web ID: 1050430 Sag Harbor Brokerage Susan Sprott I Associate Broker I 631.613.7208
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
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
$3,100,000
$3,325,000
$2,037,500
$2,012,500
$2,570,000
28%
AVERAGE SELLING PRICE
$4,447,667
$4,707,800
$3,378,512
$2,971,810
$3,902,380
31%
33
40
40
42
20
-52%
SINGLE FAMILY HOMES | Q2
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
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
$999,500
$970,000
$990,000
$1,110,000
$1,100,000
-1%
AVERAGE SELLING PRICE
$1,588,100
$1,646,978
$1,994,783
$2,242,110
$1,985,418
-11%
122
163
187
191
154
-19%
SINGLE FAMILY HOMES | Q2
TOTAL UNITS SOLD
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
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.
SINGLE FAMILY HOMES | Q2 MEDIAN SELLING PRICE AVERAGE SELLING PRICE TOTAL UNITS SOLD
2011
2012
2013
2014
2015
% Change (2015 v 2014)
$910,000
$710,000
$975,000
$950,000
$1,180,000
24%
$2,370,793
$1,074,782
$1,662,143
$1,478,914
$1,444,400
-2%
29
39
35
66
25
-62%
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
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
$1,650,000
$1,235,000
$1,484,500
$1,337,500
$1,500,000
12%
AVERAGE SELLING PRICE
$2,789,575
$2,068,310
$2,765,703
$1,968,841
$2,735,722
39%
97
102
94
114
91
-20%
SINGLE FAMILY HOMES | Q2
TOTAL UNITS SOLD
5
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ALL HAMPTONS | 5 Years | Q2 Comparison SALES BY TOTAL DOLLAR VOLUME 2011
2012
2013
2014
2015
% CHANGE
% CHANGE
73,418,727
104,652,014
105,674,453
114,215,891
83,732,529
-27%
14%
$1M - $2.99M
197,033,300
230,131,120
201,126,107
298,020,818
188,769,750
-37%
-4%
$3M - $5.99M
142,365,999
120,791,250
215,810,433
196,337,500
123,332,157
-37%
-13%
$6M - $9.99M
68,345,000
105,021,230
82,295,000
73,966,018
109,700,000
48%
61%
$10M and up
198,700,000
149,058,000
221,410,000
192,575,000
163,328,225
-15%
-18%
TOTAL
679,863,026
709,653,614
826,315,993
875,115,227
668,862,661
-24%
-2%
PRICE RANGE Up to $999,000
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 | Q2 Comparison TOTAL UNITS SOLD 2011
2012
2013
2014
2015
% CHANGE
% CHANGE
UP TO $999,000
116
164
166
175
120
-31%
3%
$1M - $2.99M
112
127
114
173
113
-35%
1%
$3M - $5.99M
35
30
54
46
31
-33%
-11%
$6M - $9.99M
9
14
11
10
15
50%
67%
$10M AND UP
9
9
11
9
11
22%
22%
281
344
356
413
290
-30%
3%
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
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FEATURED LISTINGS
EAST HAMPTON, NY Web ID: 0056704 | $45,000,000 combined Southampton Brokerage Christina Galesi | Licensed Salesperson | 631.227.4919
BRIDGEHAMPTON, NY Web ID: 0037910 | $32,000,000 DuneRoadOceanfront.com Bridgehampton Brokerage Dana Trotter | Associate Broker | 631.613.7346
WAINSCOTT, NY Web ID: 0046582 I $19,995,000 East Hampton Brokerage William Williams I Associate Broker I 631.907.8465