Water Mill, NY | web: 0056234
The Hamptons Market Update Fourth 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 In the fourth quarter of 2014, the Hamptons real estate market continued its positive upswing. According to the Long Island Real Estate Report, from Q4 2013 to Q4 2014, there was a 57 percent overall increase in average sales price in all areas while properties in the $1-2.9M category showed an 11 percent increase in average sales price. Overall sales volume in the Hamptons increased 74 percent when compared to Q4 2013, and there was a notable 274 percent increase in sales volume in the above $10M category as units in this category increased 144 percent and the average sales price increased 53 percent from $16M to $24.5M due to several very substantial transactions. As far as closings, total closed units increased 11 percent versus the same time last year and three out of the four areas showed double-digit increases in closed units priced over $10M. A significant decline to note: properties priced at less than $1M showed an 17 percent overall decline in closed units. 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 | Q4 2014
EAST HAMPTON, NY I Last Asking: $93,900,000 East Hampton Brokerage Edward R. Petrie I Associate Broker I 631.907.8442 Frederick Butti I Associate Broker I 631.907.8441
SOUTHAMPTON, NY | Last Asking: $35,000,000 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316
WATER MILL, NY | Last Asking: $14,995,000 Southampton Brokerage Harald Grant | Associate Broker | 631.227.4913 Christina M. Galesi | Licensed Salesperson | 631.227.4919
SAG HARBOR, NY | Last Asking: $2,850,000 East Hampton Brokerage Kathy Konzet | Licensed Salesperson | 631.907.8455 Zacheriah and Ethan Dayton | Licensed Salespersons | 631.907.8466
FEATURED LISTINGS
SHELTER ISLAND, NY | $13,950,000 | Web ID: 0056535 Southampton Brokerage Jonathan Smith | Licensed Salesperson | 631.227.4950 Michael Conroy | Licensed Salesperson | 631.227.4942
EAST HAMPTON , NY | $13,900,000 | Web ID: 0037586 Bridgehampton Brokerage Dana Trotter | Associate Broker | 631.613.7346
SAGAPONACK, NY I $8,950,000 I Web ID: 0043879 East Hampton Brokerage Rylan Jacka I Associate Broker I 631.907.8475 Melissa Green I Licensed Salesperson I 631.613.7333
SOUTHAMPTON, NY | $5,095,000 | Web ID: 0037606 Bridgehampton Brokerage Sharon Stern | Licensed Salesperson | 631.613.7330
SOUTHAMPTON, NY | $4,295,000 | Web ID: 0056605 Southampton Brokerage Lawrence G. Ingolia | Associate Broker | 631.227.4931
EAST HAMPTON, NY I $3,375,000 I Web ID: 0046177 East Hampton Brokerage Neil G. Hausig I Associate Broker I 631.907.8460
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
BRIDGEHAMPTON Sagaponack Centrally located, Bridgehampton enjoys open farm vistas, picturesque wineries, and a bustling historic village with an array of shops, restaurants, and galleries. Minutes away are miles of ocean beaches and bays with world class yachting. Home to the finest equestrian event, the Hampton Classic, as well as numerous art and music festivals, Bridgehampton offers a sophisticated cultural life. For the sporting enthusiast there are miles of scenic roads for biking, riding stables, and golf and tennis clubs including the famed Atlantic Golf Club.
2010
2011
2012
2013
2014
% Change (2014 v 2013)
MEDIAN SELLING PRICE
$3,300,000
$3,400,000
$2,892,500
$3,725,000
$3,030,000
-19%
AVERAGE SELLING PRICE
$4,056,148
$5,128,157
$3,925,130
$4,636,708
$7,652,908
65%
23
25
38
27
38
41%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
East Hampton and Southampton scenic photography provided by Jake Rajs
EAST HAMPTON Amagansett, Montauk, Wainscott Voted one of the most beautiful villages in the world, East Hampton retains its historic charm while offering the top names of fashion and the culinary world in its shops and restaurants. A vibrant cultural life extends year round with Guild Hall, the Hamptons International Film Festival, art gallery exhibits and elegant fundraisers. Beautiful biking and strolling lanes shaded by majestic elm trees lead down to miles of ocean beaches and the famed Maidstone Club. Â Three Mile Harbor and Gardiners Bay offer prime waters for sailing or powerboating.
2010
2011
2012
2013
2014
% Change (2014 v 2013)
MEDIAN SELLING PRICE
$980,000
$750,000
$1,082,500
$940,000
$1,340,000
43%
AVERAGE SELLING PRICE
$1,748,261
$1,691,492
$2,357,398
$1,507,952
$2,476,228
64%
72
97
118
138
158
14%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
BRIDGEHAMPTON | EAST HAMPTON | SAG HARBOR | SOUTHAMPTON
4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
SAG HARBOR North Haven, Noyack The historic whaling village of Sag Harbor exudes Victorian charm with a picturesque Main Street leading down to a busy wharf with some of the finest motor yachts in the world. Homes enjoy spectacular bay views dotted with sail boats. With a true port feel, Sag Harbor offers diverse dining options and unique boutiques with international wares. Famous artists and writers have been drawn to the rich cultural life and history of Sag Harbor, and the streets are filled with book stores and art galleries, a cinema and Bay Street Theatre.
2010
2011
2012
2013
2014
% Change (2014 v 2013)
MEDIAN SELLING PRICE
$1,500,000
$807,500
$1,160,000
$925,000
$1,015,000
10%
AVERAGE SELLING PRICE
$1,299,165
$1,172,653
$1,586,990
$1,233,320
$1,551,165
26%
17
36
39
55
49
-11%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
SOUTHAMPTON North Sea, Water Mill Southampton combines its pedigreed past with its contemporary international culture. Famed hedged estates lead down to miles of ocean beaches and bay waters perfect for swimming, sailing or just relaxing. Southampton enjoys a vibrant social calendar, including outdoor concerts and elegant fundraisers for charity and cultural institutions such as its highly regarded Parrish Art Museum. Home to famed Shinnecock and Sebonack Golf Clubs and National Golf Links, it is a draw for worldclass golfing.
2010
2011
2012
2013
2014
% Change (2014 v 2013)
MEDIAN SELLING PRICE
$980,000
$1,037,500
$1,595,000
$1,375,000
$1,360,000
-1%
AVERAGE SELLING PRICE
$1,916,657
$1,868,822
$2,649,130
$3,019,726
$4,155,476
38%
46
62
64
87
95
9%
SINGLE FAMILY HOMES | Q4
TOTAL UNITS SOLD
5
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ALL HAMPTONS | 5 Years | Q4 Comparison SALES BY TOTAL DOLLAR VOLUME 2010
2011
2012
2013
2014
% CHANGE
% CHANGE
Up to $999,000
46,808,072
68,422,449
65,810,780
102,721,330
86,774,566
-16%
85%
$1M - $2.99M
96,279,127
109,872,740
158,197,791
156,397,206
244,389,692
56%
154%
$3M - $5.99M
63,235,000
71,910,900
168,835,551
132,027,500
190,074,592
44%
201%
$6M - $9.99M
50,640,000
89,985,000
118,733,200
128,315,000
91,550,000
-29%
81%
$10M and up
72,456,000
110,170,000
147,187,500
144,376,110
540,043,000
274%
645%
TOTAL
329,418,199
450,361,089
658,764,822
663,837,146
1,152,831,850
74%
250%
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 | Q4 Comparison TOTAL UNITS SOLD 2010
2011
2012
2013
2014
% CHANGE
% CHANGE
UP TO $999,000
74
116
108
152
126
-17%
70%
$1M - $2.99M
56
68
84
95
134
41%
139%
$3M - $5.99M
16
17
41
33
46
39%
188%
$6M - $9.99M
7
12
16
18
12
-33%
71%
$10M AND UP
5
7
10
9
22
144%
340%
158
220
259
307
340
11%
115%
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
SOUTHAMPTON, NY Web ID: 0037630 | $39,500,000 Bridgehampton Brokerage Beate V. Moore | Associate Broker | 631.613.7316 GinLaneOceanfront.com
EAST HAMPTON, NY Web ID: 0045284 I $24,750,000 East Hampton Brokerage Edward R. Petrie I Associate Broker I 631.907.8442 PristineGeorgicaPond.com
WATER MILL, NY Web ID: 0056473 I $15,000,000 Southampton Brokerage Patricia J. Petrillo | Associate Broker | 631.227.4916 BackBayWaterMill.com