Hamptons Market Update - Q1 2017

Q1 | 2017

The Hamptons

Market Update

SAGAPONACK

sothebyshomes.com/0047543 Offered at $13,995,000

SAGAPONACK SOUTH

Offered at $9,950,000 sothebyshomes.com/0038514

a message from

Ed Reale & Nanette Hansen The Hamptons Brokerage Managers

In the first quarter of 2017, the average sales price of Hamptons real estate dipped 4% year over year according to data compiled in the Long Island Real Estate Report. In the overall Hamptons market, total units sold decreased 21% from 359 units sold in first quarter of 2016 to 284 sales in the first quarter of 2017. As a result, total dollar volume was 24% lower, falling to $624 million from $819 million.

No matter the state of the market, Sotheby’s International Realty Hamptons brokerages are uniquely well positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 69 countries and territories, here in the Hamptons we operate four local offices located in Southampton, Bridgehampton, East Hampton and Sag Harbor. Sotheby’s International Realty - Hamptons has approximately 110 affiliated agents who are seasoned experts in local real estate laws, zoning, building and rental codes. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior, white glove service. We would be pleased to assist you in either buying or selling your dream home or locking in a vacation to remember in the Hamptons.

BRIDGEHAMPTON & SOUTHAMPTON BROKERAGES

Ed Reale (Licensed as Patrick E. Reale), Brokerage Manager 2446 Main Street | Bridgehampton, NY 11932 | 631.537.6000 50 Nugent Street | Southampton, NY 11968 | 631.283.0600 SAG HARBOR & EAST HAMPTON BROKERAGES

Nanette Hansen, Brokerage Manager 35 Main Street | Sag Harbor, NY 11963 | 631.725.6000 6 Main Street | East Hampton, NY 11937 | 631.324.6000 sothebyshomes.com/hamptons

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 areas reported on in this report include Amagansett, Bridgehampton, East Hampton, Montauk, Sag Harbor, Sagaponack, Shelter Island, Southampton, Wainscott, and Water Mill. 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 Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/ H AMP TO NS

SOUTHAMPTON VILLAGE

Barons Lane Oceanfront | Offered at $55,000,000 sothebyshomes.com/0057247

BRIDGEHAMPTON SOUTH

Offered at $7,995,000 sothebyshomes.com/0038450 AMAGANSETT

Offered at $5,995,000 sothebyshomes.com/0047500 HAMPTON BAYS

Offered at $4,900,000 sothebyshomes.com/0057269 AMAGANSETT

Offered at $3,199,000 sothebyshomes.com/1050785 *in order from left to right, top to bottom

sothebyshomes.com/hamptons

Market Snapshot All Hamptons

Bridgehampton

$3.0

450 400

$2.5 350 $2.0

Southampton

300 250

$1.5 200

East Hampton

$1.0

150

Sag Harbor

100 $0.5 50 $0.0

0

2013

2014

2015

2016

*Price in Millions

Total Units Sold 6% 48 % 19 % 27 %

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2017

Q1 Highlights All Hamptons

Bridgehampton

$4.0 $3.5 $3.0

Southampton

$2.5 $2.0

East Hampton

$1.5 $1.0 $0.5

Sag Harbor

Average Selling Price 3.4 $ 1.6 $ 2.3 $ 3.0 $

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

*Price in Millions

Bridgehampton

$-

Total Dollar Volume 9% 35 % 19 % 27 %

Bridgehampton East Hampton Sag Harbor Southampton

Q1 Highlights

/ The Hamptons Q1 Market Update

Units Sold Comparison All Hamptons | Five Years

450 400 350 300 250 200 150 100 50 -

2013

2014

2015

2016

2017 Under $1M $1 - 3M $3 - 6M $6 - 10M $10M and Above

Total Units Sold

By Price Point Below $1M

$1M $3M

$3M $6M

$6M $10M

$10M & Above

Total

Change

-39%

-11%

8%

97%

-69%

-21%

Change

-34%

35%

115%

163%

-44%

3%

2017

102

120

43

16

3

284

2016

167

135

40

8

9

359

2015

198

155

39

11

12

415

2014

172

123

54

12

7

368

2013

155

89

20

6

5

275

{2017 v 2016} {2017 v 2013}

*Price in Millions

Sales & Price Comparison by Town All Hamptons | Five Years

$5.5 $5.0 $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0

2013

2014

2015

2016

Average Selling Price

2017

Bridgehampton East Hampton Sag Harbor Southampton

Median Selling Price

*Dollars in Millions

$4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0

2013

2014

2015

2016

Five Year Comparison

2017

/ The Hamptons Q1 Market Update

at a glance {Q1 | 2017}

bridgehampton

-7

%

Change in Average Selling Price {2017 v 2016}

-48

%

Change in Units Sold {2017 v 2016}

16 Units Sold

3.4m

$

Average Selling Price

|

Average Selling Price Total Units Sold 45

$6,000,000

40

$5,000,000

35 30

$4,000,000

25

$3,000,000

20

$2,000,000

15 10

$1,000,000

5

$-

-

2013

2014

2015

Average Selling Price

2016

2017

Total Units Sold

About

Bridgehampton ALSO ENCOMPASSING SAGAPONACK

Bridgehampton’s cultural sophistication offers world-class riding events, some of the finest beaches, popular wineries, boutique shops, a historic charming village, fine dining and galleries among world-class, coveted properties.

Average Selling Price

Median Selling Price

Total Units Sold

-7%

43%

-48%

2017

$3,394,875

$3,369,000

16

2016

$3,639,910

$2,362,500

30

2015

$4,993,350

$2,978,500

42

2014

$3,451,074

$2,200,000

27

2013

$3,818,804

$2,040,000

23

{2017 v 2016}

Change

Bridgehampton

/ The Hamptons Q1 Market Update

|

Average Selling Price Total Units Sold $2,500,000

200 180

$2,000,000

160 140 120

$1,500,000

100 $1,000,000

80 60

$500,000

40 20

$-

-

2013

2014

2015

Average Selling Price

2016

2017

Total Units Sold

About

East Hampton ALSO ENCOMPASSING AMAGANSETT, MONTAUK, AND WAINSCOTT

Distinguished by miles of sandy beaches, East Hampton retains its historic charm and offers a vibrant cultural scene as well as some of the most exclusive, extraordinary properties on the East End.

Average Selling Price

Median Selling Price

Total Units Sold

-33%

13%

-19%

2017

$1,573,891

$1,122,000

138

2016

$2,357,949

$994,900

170

2015

$1,500,207

$957,500

180

2014

$1,723,014

$990,000

171

2013

$1,294,457

$836,500

150

{2017 v 2016}

Change

The Hamptons Q1 Market Update / East Hampton

at a glance {Q1 | 2017}

east hampton

-33

%

Change in Average Selling Price {2017 v 2016}

-19

%

Change in Units Sold {2017 v 2016}

138 Units Sold

1.6m

$

Average Selling Price

at a glance {Q1 | 2017}

sag harbor

+56

%

Change in Average Selling Price {2017 v 2016}

-21

%

Change in Units Sold {2017 v 2016}

55 $2.3m Units Sold

Average Selling Price

|

Average Selling Price Total Units Sold $2,500,000

80 70

$2,000,000

60 50

$1,500,000

40 $1,000,000

30 20

$500,000

10 $-

-

2013

2014

2015

Average Selling Price

2016

2017

Total Units Sold

About

Sag Harbor ALSO ENCOMPASSING NORTH HAVEN AND NOYAC

A former whaling port, and long favored by famed writers and artists, picturesque Sag Harbor is the home base to some of the finest yachts in the world, residences with spectacular waterviews, and an energetic community.

Average Selling Price

Median Selling Price

Total Units Sold

56%

70%

-21%

2017

$2,292,022

$1,650,000

55

2016

$1,469,800

$972,500

70

2015

$1,350,056

$920,000

67

2014

$2,150,952

$1,195,000

51

2013

$976,231

$640,000

32

{2017 v 2016}

Change

Sag Harbor

/The Hamptons Q1 Market Update

|

Average Selling Price Total Units Sold $3,500,000

140

$3,000,000

120

$2,500,000

100

$2,000,000

80

$1,500,000

60

$1,000,000

40

$500,000

20

$-

-

2013

2014

2015

Average Selling Price

2016

2017

Total Units Sold

About

Southampton ALSO ENCOMPASSING NORTH SEA AND WATER MILL

Southampton’s prestigious oceanfront town offers unparalleled beaches and elegance. Prominent hedged estates and homes with sweeping ocean views command the classic and traditional community sought after by many.

Average Selling Price

Median Selling Price

Total Units Sold

31%

39%

-15%

2017

$3,028,991

$1,662,500

75

2016

$2,313,826

$1,200,000

89

2015

$2,162,283

$1,130,000

126

2014

$2,262,966

$1,200,000

119

2013

$1,824,875

$1,198,750

70

{2017 v 2016}

Change

The Hamptons Q1 Market Update

/ Southampton

at a glance {Q1 | 2017}

southampton

+31

%

Change in Average Selling Price {2017 v 2016}

-15

%

Change in Units Sold {2017 v 2016}

75 $3m Units Sold

Average Selling Price

Extraordinary Results We celebrate the notable success of our associates and clients

SOUTHAMPTON

The Tower House at Olde Towne Last asking $29,900,000

WATER MILL SOUTH

Waterfront Villa Last asking $9,000,000 SOUTHAMPTON VILLAGE

Quintessential Traditional Last asking $10,450,000 AMAGANSETT

Amagansett Oceanfront Last asking $7,775,000 SAG HARBOR VILLAGE

Suffolk Street Dream Home Last asking $3,195,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons

JEAN-MICHEL BASQUIAT In the Wings, 1986 To be sold in the Contemporary Art Evening Sale New York 18 May 2016

New York Spring Sales 2017

Art of Africa, Oceania, and the Americas Auction 15 May Impressionist & Modern Art Evening Sale Auction 16 May Impressionist & Modern Art Day Sale Auction 17 May Contemporary Art Evening Sale Auction 18 May Contemporary Art Day Sale Auction 19 May Finest and Rarest Wines Auction 20 May American Art Auction 23 May Latin American Modern & Contemporary Art Evening Sale Auction 25 May

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/Auctions.

ENQUIRIES +1 212 606 7000 © 2017 ARTISTS RIGHTS SOCIETY (ARS), NEW YORK / ADAGP, PARIS