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