East Hampton, NY | web: 0046769
The Hamptons Market Update Second Quarter 2016 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
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Market Update The second quarter of 2016 saw the median price of Hamptons real estate edge 2% higher over the same period of the previous year, according to data compiled in the Long Island Real Estate Report. Driving this gain was the 9% median price increase in East Hampton, offsetting the declines in Bridgehampton, Sag Harbor, and Southampton. In the overall Hamptons market, total units sold were down by 13% and total dollar volume was 26% lower. Performance varied by town, with Sag Harbor being the only market to post year-over-year gains in both total units sold and dollar volume, up 5% and 11% respectively. These gains were driven by significantly increased activity at prices ranging from $3 million to $6 million, and up to $1 million. In comparison with 2012 levels, Sag Harbor sales now stand 66% higher in total units sold from 47 units sold to 78 units sold and 163% higher in total dollar volume from $52 million to $137 million. BRIDGEHAMPTON BROKERAGE | t: 631.537.6000 Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 2446 Main Street | Bridgehampton, NY 11932
EAST HAMPTON BROKERAGE | t: 631.324.6000 Marissa Ghesquiere, Interim Brokerage Manager 6 Main Street | East Hampton, NY 11937
SAG HARBOR BROKERAGE | t: 631.725.6000 Marissa Ghesquiere, Interim Brokerage Manager 35 Main Street | Sag Harbor, NY 11963
SOUTHAMPTON BROKERAGE | t: 631.283.0600 Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 50 Nugent Street | Southampton, NY 11968
SIGNIFICANT SALES | Q2 2016
WAINSCOTT, NY | Last Asking: $10,950,000 East Hampton Brokerage Martha Murray | Licensed Salesperson | 631.907.8458
AMAGANSETT, NY | Last Asking: $14,500,000 Bridgehampton Brokerage Marilyn Clark | Associate Broker | 631.613.7339
WATER MILL SOUTH, NY I Last Asking: $17,500,000 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913
SOUTHAMPTON VILLAGE, NY | Last Asking: $1,350,000 Sag Harbor Brokerage Leslie Reingold | Licensed Salesperson | 631.613.7203
All data in this report is derived from the Long Island Real Estate Reports. Since all final closed data for the current quarter had not been reported at the time this report was compiled, the available closed data was extrapolated in an attempt to approximate full results for the current quarter. Actual results may materially vary from the approximated results. The Hamptons residential real estate market is defined as the 12 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. 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. Equal housing opportunity.
FEATURED LISTINGS
SAG HARBOR, NY | $8,500,000 | Web ID: 0038235 Bridgehampton Brokerage Dana Trotter | Associate Broker | 631.613.7346
SAGAPONACK, NY | $6,995,000 | Web ID: 0043833 East Hampton Brokerage Kelly Nelson | Associate Broker | 631.907.8459
SOUTHAMPTON, NY | $4,695,000 | Web ID: 0057074 Southampton Brokerage Patricia Petrillo | Associate Broker | 631.227.4931
BRIDGEHAMPTON, NY | $4,100,000 | Web ID: 0057080 Southampton Brokerage Chip Dineen | Licensed Salesperson | 631.227.4923
SAG HARBOR VILLAGE, NY | $3,695,000 | Web ID: 1050740 Sag Harbor Brokerage Susan Sprott | Associate Broker | 631.613.7208
SAG HARBOR, NY | $2,200,000 | Web ID: 0038339 | 375BrickKiln.com Bridgehampton Brokerage Angela Boyer-Stump | Licensed Salesperson | 631.613.7345
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$6,000,000
60
$5,000,000
50
$4,000,000
40
$3,000,000
30
In the heart of the Hamptons, amid superb beaches
$2,000,000
20
and sailing waters, Bridgehampton offers a blend of
$1,000,000
10
BRIDGEHAMPTON Sagaponack impressive estates, pastoral farmlands and picturesque
$-
wineries. This prestigious equestrian center is home to
2012
2013
2014
2015
-
2016
the Bridgehampton Polo Club, renowned Hampton Classic horse show and numerous riding stables. Bridgehampton’s
Average Selling Price
lovely village offers fine boutiques, antique shops, galleries
Median Selling Price
Total Units Sold
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.
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$4,783,934
$3,822,323
$2,953,861
$4,276,370
$3,663,100
-14%
MEDIAN SELLING PRICE
$3,350,000
$2,150,000
$2,125,000
$3,325,000
$1,995,000
-40%
45
51
43
32
32
1%
SINGLE FAMILY HOMES | Q2
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$2,500,000
300
$2,000,000
250
EAST HAMPTON
$1,500,000
Amagansett, Montauk, Wainscott
$1,000,000
Picturesque East Hampton has been deemed America’s most beautiful village, where majestic elm trees, stately
200 150 100
$500,000
homes and old windmills dot the pastoral scenery.
$-
Keeping its timeless character, this preservation-minded
50 2012
2013
2014
2015
2016
-
community offers sophisticated country living with a mix of historic charm and world-class amenities. The arts are
Average Selling Price
a vibrant focus, with noted attractions including Guild Hall
Median Selling Price
Total Units Sold
and the Hamptons International Film Festival. The fabled Maidstone Club, exquisite ocean beaches and prime sailing waters are highlights of the sporting life.
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$1,623,186
$1,935,595
$1,952,287
$1,793,174
$1,616,656
-10%
MEDIAN SELLING PRICE
$965,000
$995,000
$948,750
$980,000
$1,070,000
9%
193
280
234
229
202
-12%
SINGLE FAMILY HOMES | Q2
TOTAL UNITS SOLD
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$2,000,000
100 80
$1,500,000
SAG HARBOR
60
$1,000,000
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.
40
$500,000 $-
20 2012
2013
Average Selling Price
2014
2015
Median Selling Price
2016
-
Total Units Sold
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$1,105,989
$1,486,208
$1,509,545
$1,672,932
$1,754,678
5%
MEDIAN SELLING PRICE
$750,000
$962,500
$950,000
$1,460,480
$1,200,000
-18%
47
60
69
74
78
5%
SINGLE FAMILY HOMES | Q2
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$3,000,000 $2,500,000 $2,000,000
SOUTHAMPTON
$1,500,000
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.
$1,000,000 $500,000 $-
2012
Average Selling Price
2013
2014
2015
Median Selling Price
2016
160 140 120 100 80 60 40 20 -
Total Units Sold
2012
2013
2014
2015
2016
% Change (2016 v 2015)
AVERAGE SELLING PRICE
$2,129,683
$2,389,118
$1,848,248
$2,451,201
$1,757,380
-28%
MEDIAN SELLING PRICE
$1,227,500
$1,212,500
$1,250,000
$1,377,500
$1,075,000
-22%
114
143
136
152
110
-27%
SINGLE FAMILY HOMES | Q2
TOTAL UNITS SOLD
5
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ALL HAMPTONS | 5 Years | Q2 Comparison SALES BY TOTAL DOLLAR VOLUME 2012
2013
2014
2015
2016
% CHANGE
% CHANGE
Up to $999,000
$121,228,559
$157,346,923
$142,165,514
$136,826,926
$125,414,674
-8%
3%
$1M - $2.99M
$257,605,297 $303,529,997
$325,377,518
$323,578,602
$282,991,592
-13%
10%
$3M - $5.99M
$139,871,250
$293,579,433
$205,287,500
$218,441,009
$200,803,925
-8%
44%
$6M - $9.99M
$131,284,230
$114,335,000
$73,966,018
$151,020,061
$118,775,163
-21%
-10%
$10M and up
$173,328,000 $ 298,930,000
$192,575,000
$213,993,607
$47,693,579
-78%
-72%
$775,678,932
-26%
-6%
PRICE RANGE
TOTAL
$823,317,336
$1,167,721,353
$939,371,550 $ 1,043,860,205
2015
2016
6%
13%
21%
Up to $999,000
(2016 v 2015)
15%
(2016 v 2012)
16%
$1M - $2.99M $3M - $5.99M 14%
31%
$6M - $9.99M $10M and up
26%
37%
$6M-$9.99M
$10M and up
21%
Up to $999,000
$1M-$2.99M
$3M-$5.99M
AVERAGE SELLING PRICE 6.0 5.0 4.0 3.0 2.0 1.0 -
2012
2013 Bridgehampton
2014 East Hampton
2015 Sag Harbor
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
2016
Southampton
6
ALL HAMPTONS | 5 Years | Q2 Comparison TOTAL UNITS SOLD 2012
2013
2014
2015
2016
% CHANGE
% CHANGE
UP TO $999,000
190
251
226
207
186
-10%
-2%
$1M - $2.99M
145
178
189
191
170
-11%
18%
$3M - $5.99M
35
73
48
54
48
-11%
37%
$6M - $9.99M
18
15
10
21
15
-30%
-18%
$10M AND UP
11
17
9
14
4
-72%
-64%
399
534
482
487
423
-13%
6%
PRICE RANGE
TOTAL
2015 11%
2016
3% 4%
(2016 v 2015)
1% 11%
4%
43%
44%
40%
39%
Up to $999,000
(2016 v 2012)
$1M-$2.99M
$3M-$5.99M
$6M-$9.99M
$10M and up
MEDIAN SELLING PRICES 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 -
2012
2013 Bridgehampton
7
2014 East Hampton
2015 Sag Harbor
2016
Southampton
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FEATURED LISTINGS
SHELTER ISLAND, NY $32,000,000 | Web ID: 0038336 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316
BRIDGEHAMPTON SOUTH, NY $22,000,000 | Web ID: 0057077 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913
EAST HAMPTON, NY $19,750,000 | Web ID: 0046256 East Hampton Brokerage Patricia Wadzinksi | Associate Broker | 631.907.8454