The Hamptons Market Update | Q3 2014

East Hampton, NY | web: 0046256

The Hamptons Market Update Third 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 Dramatic increases in median prices continued to be the dominant trend of the Hamptons real estate market during the third quarter of 2014, according to the Long Island Real Estate Report. The overall gain of 30 percent over the same period last year was led by strong performances in Sag Harbor and Bridgehampton at 43 and 23 percent respectively, followed by Southampton and East Hampton at 16 and 13 percent respectively. Changes in total units sold and total dollar volume varied by town and by price point. Total dollar volume gains were posted in the $3 million-to-$5,999,999 and $10 million-and-up ranges. In Southampton, overall total dollar volume rose 22 percent, spurred by a notable 263 percent increase in luxury properties of $10 million and up.

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 | Q3 2014

SOUTHAMPTON, NY | Last Asking: $48,000,000 Southampton/East Hampton Brokerages Harald Grant | Associate Broker | 631.227.4913 Edward R. Petrie I Associate Broker I 631.907.8442

WATER MILL, NY | Last Asking: Price Upon Request Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316

EAST HAMPTON, NY I Last Asking: $24,500,000 East Hampton Brokerage Edward R. Petrie I Associate Broker I 631.907.8442 Frank E. Newbold I Associate Broker I 631.324.6000

EAST HAMPTON, NY | Last Asking: $1,650,000 Sag Harbor Brokerage Michael F. Daly | Associate Broker | 631.613.7205 Robert Florio | Licensed Salesperson | 631.613.7206

FEATURED LISTINGS

WATER MILL, NY | $10,000,000 | Web ID: 0056229 Southampton Brokerage Deborah J. Srb | Associate Broker | 631.227.4926

EAST HAMPTON, NY | $7,750,000 | Web ID: 0037596 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316

EAST HAMPTON, NY I $7,500,000 I Web ID: 0046418 East Hampton Brokerage Andrew Hart I Associate Broker I 631.907.8452

WATER MILL, NY | $5,850,000 | Web ID: 0037473 Bridgehampton Brokerage Barbara L. Bornstein | Associate Broker | 631.613.7312 Dana Trotter | Associate Broker | 631.613.7346 hamptonshorsefarm.com

SOUTHAMPTON, NY | $4,550,000 | Web ID: 0056543 Southampton Brokerage Patricia J. Petrillo | Associate Broker | 631.227.4916

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 | Q3

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.

2010

2011

2012

2013

2014

% Change (2014 v 2013)

MEDIAN SELLING PRICE

$1,000,000

$2,550,000

$1,600,000

$3,610,000

$4,450,000

23%

AVERAGE SELLING PRICE

$2,823,627

$5,847,219

$2,158,769

$4,539,786

$4,796,421

6%

13

14

13

28

19

-32%

SINGLE FAMILY HOMES | Q3

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3

East Hampton and Southampton scenic photography provided by Jake Rajs

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.

2010

2011

2012

2013

2014

% Change (2014 v 2013)

MEDIAN SELLING PRICE

$645,000

$945,000

$820,000

$882,500

$999,000

13%

AVERAGE SELLING PRICE

$1,634,450

$1,618,109

$1,688,524

$1,643,240

$1,614,244

-2%

93

71

111

164

135

-18%

SINGLE FAMILY HOMES | Q3

TOTAL UNITS SOLD

BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON

4

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3

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 19thcentury 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.

2010

2011

2012

2013

2014

% Change (2014 v 2013)

MEDIAN SELLING PRICE

$950,000

$925,000

$1,035,000

$858,500

$1,227,050

43%

AVERAGE SELLING PRICE

$1,050,979

$1,255,590

$1,361,390

$1,209,096

$1,373,029

14%

21

23

29

50

41

-18%

SINGLE FAMILY HOMES | Q3

TOTAL UNITS SOLD

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q3

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.

2010

2011

2012

2013

2014

% Change (2014 v 2013)

MEDIAN SELLING PRICE

$1,116,700

$1,700,000

$999,500

$1,255,000

$1,460,000

16%

AVERAGE SELLING PRICE

$1,957,852

$2,623,345

$1,653,544

$2,062,094

$3,295,576

60%

65

63

103

114

87

-24%

SINGLE FAMILY HOMES | Q3

TOTAL UNITS SOLD

5

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ALL HAMPTONS | 5 Years | Q3 Comparison SALES BY TOTAL DOLLAR VOLUME 2010

2011

2012

2013

2014

% CHANGE

% CHANGE

Up to $999,000

68,419,230

53,624,223

90,475,895

119,397,940

78,977,726

-34%

15%

$1M - $2.99M

86,631,114

108,344,762

156,001,522

206,124,729

180,693,655

-12%

109%

$3M - $5.99M

46,750,000

63,279,000

100,044,650

125,728,800

147,478,950

17%

215%

$6M - $9.99M

29,880,000

70,248,170

9,726,500

90,470,000

76,150,000

-16%

155%

$10M and up

106,361,595

95,400,000

69,037,000

150,417,500

168,764,000

12%

59%

TOTAL

338,041,939

390,896,155

425,285,567

692,138,969

652,064,331

-6%

93%

PRICE RANGE

2013

(2014 v 2013)

(2014 v 2010)

2014

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 | Q3 Comparison TOTAL UNITS SOLD 2010

2011

2012

2013

2014

% CHANGE

% CHANGE

UP TO $999,000

116

80

140

182

120

-34%

3%

$1M - $2.99M

52

60

85

123

105

-15%

102%

$3M - $5.99M

13

16

25

31

38

23%

192%

$6M - $9.99M

4

9

1

11

10

-9%

150%

$10M AND UP

7

6

5

9

9

0%

29%

192

171

256

356

282

-21%

47%

PRICE RANGE

TOTAL

(2014 v 2013)

(2014 v 2010)

2014

2013

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

WATER MILL, NY Web ID: 0056504 | $38,500,000 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913

BRIDGEHAMPTON SOUTH, NY Web ID: 0037623 | $16,900,000 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316 816MecoxRoad.com

EAST HAMPTON, NY Web ID: 0046425 I $27,500,000 East Hampton Brokerage Edward R. Petrie | Associate Broker | 631.907.8442