The Hamptons Market Update | Q2 2015

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