Hamptons 2nd Quarter Market Update

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

sothebyshomes.com/hamptons

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