The Hamptons Market Update | Q1 2018

Q1 | 2018

The Hamptons

Market Update

EAST HAMPTON

DunemereLane.com Offered at $12,500,000

BRIDGEHAMPTON

Offered at $12,500,000 NarrowLaneFarmSagaponack.com

a message from

The Hamptons Brokerage Managers In the first quarter of 2018, the average sales price of Hamptons (east of the Shinnecock Canal) real estate remained consistent year over year according to data compiled in the Long Island Real Estate Report, while median sales price dipped by 5%. In the overall Hamptons market (east of the Shinnecock Canal), total units sold decreased 16% from 345 units sold in first quarter of 2017 to 291 sales in the first quarter of 2018. As a result, total dollar volume also dipped 16% lower, falling to $652 million from $778 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 130 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 BRIDGEHAMPTON

Offered at $37,000,000 QuimbyLaneWaterfront.com

EAST HAMPTON

Offered at $5,995,000 sothebyshomes.com/0047967 SOUTHAMPTON

Offered at $4,699,000 234TuckahoeRoad.com SAG HARBOR

Offered at $2,595,000 sothebyshomes.com/0057556 SOUTHAMPTON

Offered at $2,749,000 sothebyshomes.com/1051016 *in order from left to right, top to bottom

sothebyshomes.com/hamptons

Featured Properties

/ The Hamptons Q1 Market Update

Market Snapshot All Hamptons

(east of the Shinnecock Canal)

Bridgehampton

450

$3.0

400 $2.5 350 300

$2.0

Southampton 250 $1.5 200

East Hampton Sag Harbor

150

$1.0

100 $0.5 50 $0.0

0

2014

2015

2016

2017

*Price in Millions

Total Units Sold 24 141 35 91

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2018

Q1 Highlights All Hamptons

(east of the Shinnecock Canal)

Bridgehampton

$6.0

$5.0

$4.0

Southampton

$3.0

East Hampton

$2.0

Sag Harbor

$1.0

Average Selling Price 4.8 $ 1.7 $ 1.2 $ 2.8

$

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 18 % 36 % 6% 40 %

Bridgehampton East Hampton Sag Harbor Southampton

Q1 Highlights

/ The Hamptons Q1 Market Update

Units Sold Comparison All Hamptons | Five Years (east of the Shinnecock Canal)

450 400 350 300 250 200 150 100 50 -

2014

2015

2016

2017

2018 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

-10%

-15%

-39%

-4%

42%

-16%

Change

-32%

-6%

-35%

22%

13%

-21%

2018

117

116

35

15

8

291

2017

130

137

57

15

6

345

2016

170

137

40

8

9

364

2015

198

155

39

11

12

415

2014

172

123

54

12

7

368

Q1 {2018 v 2017} {2018 v 2014}

*Price in Millions

Sales & Price Comparison by Town All Hamptons | Five Years (east of the Shinnecock Canal)

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

2014

2015

2016

2017

Average Selling Price

2018

Bridgehampton East Hampton Sag Harbor Southampton

Median Selling Price

*Price in Millions

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

2014

2015

2016

2017

Five Year Comparison

2018

/ The Hamptons Q1 Market Update

at a glance {Q1 | 2018}

bridgehampton

+34

%

Change in Average Selling Price {2018 v 2017}

+17

%

Change in Units Sold {2018 v 2017}

24 Units Sold

4.8m

$

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 15

$2,000,000

10

$1,000,000

5

$-

-

2014

2015

2016

Average Selling Price

2017

2018

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

34%

-2%

17%

2018

$4,840,172

$3,300,000

24

2017

$3,615,900

$3,369,000

20

2016

$3,639,910

$2,362,500

30

2015

$4,993,350

$2,978,500

42

2014

$3,451,074

$2,200,000

27

Q1 {2018 v 2017}

Change

Bridgehampton

/ The Hamptons Q1 Market Update

|

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

200 180 160

$2,000,000

140 $1,500,000

120 100 80

$1,000,000

60 40

$500,000

20 $-

-

2014

2015

2016

Average Selling Price

2017

2018

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

8%

9%

-15%

2018

$1,696,079

$1,045,000

141

2017

$1,564,582

$955,000

166

2016

$2,332,953

$992,150

172

2015

$1,500,207

$957,500

180

2014

$1,723,014

$990,000

171

Q1 {2018 v 2017}

Change

The Hamptons Q1 Market Update / East Hampton

at a glance {Q1 | 2018}

east hampton

+8

%

Change in Average Selling Price {2018 v 2017}

-15

%

Change in Units Sold {2018 v 2017}

141 Units Sold

1.7m

$

Average Selling Price

at a glance {Q1 | 2018}

sag harbor

-47

%

Change in Average Selling Price {2018 v 2017}

-39

%

Change in Units Sold {2018 v 2017}

35 $1.2m Units Sold

Average Selling Price

|

Average Selling Price Total Units Sold 80

$2,500,000

70 $2,000,000

60 50

$1,500,000

40 $1,000,000

30 20

$500,000

10 -

$-

2014

2015

2016

Average Selling Price

2017

2018

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

-47%

-15%

-39%

2018

$1,156,279

$1,340,000

35

2017

$2,163,615

$1,567,500

57

2016

$1,469,800

$972,500

70

2015

$1350,056

$920,000

67

2014

$2,150,952

$1,195,000

51

Q1 {2018 v 2017}

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

$-

-

2014

2015

2016

Average Selling Price

2017

2018

Total Units Sold

About

Southampton (EAST OF THE SHINNECOCK CANAL) INCLUDING 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

-10%

-13%

-11%

2018

$2,849,131

$1,380,000

91

2017

$3,158,477

$1,595,000

102

2016

$2,266,817

$1,200,000

92

2015

$2,162,283

$1,130,000

126

2014

$2,262,966

$1,200,000

119

Q1 {2018 v 2017}

Change

The Hamptons Q1 Market Update

/ Southampton

at a glance {Q1 | 2018}

southampton

(east of the Shinnecock Canal)

-10

%

Change in Average Selling Price {2018 v 2017}

-11

%

Change in Units Sold {2018 v 2017}

91 $2.8m Units Sold

Average Selling Price

Significant Sales We celebrate the notable success of our associates and clients

WATER MILL

Private & Magnificent Waterfront Estate Last Asking Price $42,500,000

EAST HAMPTON

Magnificent Georgica Pond Estate Last Asking Price $16,500,000 WATER MILL

Chic Farmhouse Last Asking Price $3,995,000 AMAGANSETT

Treasure Island Beach Houuse Last Asking Price $2,150,000 SAG HARBOR

Lovely House in the Village with Pool Last Asking Price $1,995,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons Significant Sales

/ The Hamptons Q1 Market Update

April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May

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

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