Hamptons Market Update | Q2 2017

Q2 | 2017

The Hamptons

Market Update

BRIDGEHAMPTON

25JennifirLane.com Offered at $15,500,000

SOUTHAMPTON

Offered at $150,000,000 MeadowLaneEstate.com

a message from

The Hamptons Brokerage Managers In the second quarter of 2017, the average sales price and median sales price of Hamptons real estate increased 28% and 23% respectively year over year according to data compiled in the Long Island Real Estate Report. The overall average sales price for the second quarter of 2017 in the Hamptons was $2.5M and the overall median sales price was $1.4M. In the overall Hamptons market, total units sold declined 10% from 459 units sold in second quarter of 2016 to 413 sales in the second quarter of 2017. Despite the 10% decline in overall units sold, the number of units sold in the $10M and above category increased from 8 units in the second quarter of 2016 to 19 units in the second quarter 2017, a 137% gain. Total dollar volume reached $1 billion, a 16% increase from prior year.

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

AMAGANSETT

Offered at $5,900,000 57MarineBlvd.com

EAST HAMPTON

Offered at $2,550,000 sothebyshomes.com/0047547 BRIDGEHAMPTON

Offered at $5,950,000 361BrickKilnRoad.com SHELTER ISLAND

Offered at $2,500,000 sothebyshomes.com/0057270 SAG HARBOR

Offered at $2,998,000 7CedarAvenue.com *in order from left to right, top to bottom

sothebyshomes.com/hamptons

Featured Properties

/ The Hamptons Q2 Market Update

Market Snapshot All Hamptons

Bridgehampton

Southampton

East Hampton Sag Harbor

$3.0

600

$2.5

500

$2.0

400

$1.5

300

$1.0

200

$0.5

100

$0.0

0

2013

2014

2015

2016

*Price in Millions

Total Units Sold 41 187 63 122

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2017

Q2 Highlights All Hamptons

Bridgehampton

$4.5 $4.0 $3.5 $3.0

Southampton

$2.5

East Hampton

$2.0 $1.5 $1.0 $0.5

Sag Harbor

Average Selling Price 3.3 $ 1.6 $ 1.9 $ 3.8 $

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 13 % 29 % 12 % 46%

Bridgehampton East Hampton Sag Harbor Southampton

Q2 Highlights

/ The Hamptons Q2 Market Update

Units Sold Comparison All Hamptons | Five Years

600

500

400

300

200

100

-

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

-32%

5%

8%

15%

137%

-10%

Change

-41%

2%

-28%

8%

11%

-22%

2017

145

180

53

16

19

413

2016

215

172

49

14

8

458

2015

198

155

39

11

12

491

2014

218

188

48

10

9

473

2013

248

177

73

15

17

530

{2017 v 2016} {2017 v 2013}

*Price in Millions

Sales & Price Comparison by Town All Hamptons | Five Years

$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

*Price in Millions

$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 Q2 Market Update

at a glance {Q2 | 2017}

bridgehampton

-20

%

Change in Average Selling Price {2017 v 2016}

+13

%

Change in Units Sold {2017 v 2016}

41 Units Sold

3.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $5,000,000

60

$4,500,000

50

$4,000,000 $3,500,000

40

$3,000,000 $2,500,000

30

$2,000,000

20

$1,500,000 $1,000,000

10

$500,000 $-

-

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

-20%

-7%

13%

2017

$3,278,591

$2,000,000

41

2016

$4,083,367

$2,160,000

36

2015

$4,276,370

$3,325,000

32

2014

$2,953,861

$2,125,000

43

2013

$3,822,323

$2,150,000

51

{2017 v 2016}

Change

Bridgehampton

/ The Hamptons Q2 Market Update

|

Average Selling Price Total Units Sold 300

$2,500,000

250

$2,000,000

200

$1,500,000

150 $1,000,000

100

$500,000

50 -

$-

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

3%

17%

-15%

2017

$1,616,887

$1,125,000

187

2016

$1,571,538

$965,000

219

2015

$1,783,551

$980,000

231

2014

$2,005,085

$962,500

227

2013

$1,943,283

$995,000

277

{2017 v 2016}

Change

The Hamptons Q2 Market Update / East Hampton

at a glance {Q2 | 2017}

east hampton

+3

%

Change in Average Selling Price {2017 v 2016}

-15

%

Change in Units Sold {2017 v 2016}

187 Units Sold

1.6m

$

Average Selling Price

at a glance {Q2 | 2017}

sag harbor

+21

%

Change in Average Selling Price {2017 v 2016}

-21

%

Change in Units Sold {2017 v 2016}

63 $1.9m Units Sold

Average Selling Price

|

Average Selling Price Total Units Sold 90

$2,500,000

80 $2,000,000

70 60

$1,500,000

50 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

21%

18%

-21%

2017

$1,912,024

$1,262,500

63

2016

$1,586,425

$1,074,175

80

2015

$1,672,932

$1,460,480

74

2014

$1,530,637

$966,250

68

2013

$1,486,208

$962,500

60

{2017 v 2016}

Change

Sag Harbor

/The Hamptons Q2 Market Update

|

Average Selling Price Total Units Sold $4,500,000

180

$4,000,000

160

$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

76%

29%

0%

2017

$3,835,886

$1,625,000

122

2016

$2,174,064

$1,260,000

123

2015

$2,440,146

$1,400,000

154

2014

$1,852,865

$1,275,000

135

2013

$2,405,644

$1,231,250

142

{2017 v 2016}

Change

The Hamptons Q2 Market Update

/ Southampton

at a glance {Q2 | 2017}

southampton

+76

%

Change in Average Selling Price {2017 v 2016}

0

%

Change in Units Sold {2017 v 2016}

122 $3.8m Units Sold

Average Selling Price

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

SOUTHAMPTON

Gin Lane Oceanfront Estate Last Asking: $31,000,000

SOUTHAMPTON

Wonderful Wyandanch 5 Acres Pondfront Last asking $15,950,000 SOUTHAMPTON

Beautiful Bishops Pond Townhome Last asking $2,495,000 SAGAPONACK

Quintessential Luxury with Tennis Last asking $4,950,000 SOUTHAMPTON

Southampton Estate - Deeded Ocean Access Last asking $12,500,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons Significant Sales

/ The Hamptons Q2 Market Update

UNPARALLELED SELECTION OF WINES ALL YEAR ROUND. Sotheby’s Wine is more than an auctioneer, we are a global retailer with stores in New York and Hong Kong.

Visit us online at sothebyswine.com.

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