The Hamptons Market Update | Q3 2017

Q3 | 2017

The Hamptons

Market Update

SAGAPONACK

135CrestviewLane.com Offered at $44,995,000

WAINSCOTT

Offered at $55,000,000 KilkareHamptons.com

a message from

The Hamptons Brokerage Managers In the third quarter of 2017, the number of units sold in The Hamptons increased 11% from the third quarter of 2016 according to data compiled in the Long Island Real Estate Report. Units sold rose to 391 units in the third quarter of 2017 from 353 units in the third quarter of 2016. Additional highlights included a 48% gain in Bridgehampton to 31 units sold from 21 in the third quarter of 2016 as well as a 22% gain in East Hampton compared to prior year. Despite the increase in units sold year over year, total dollar sales volume declined by 5%, driven by a 14% decrease in average sales price. Overall median sale price decreased this year to $1.1M, a 4% decline compared to the year prior.

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 68 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 Brokerages 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

Offered at $24,995,000 65CaptainsNeckLane.com

SAG HARBOR

Offered at $5,500,000 sothebyshomes.com/1050951 WATER MILL

Offered at $3,450,000 sothebyshomes.com/0038732 SOUTHAMPTON

Offered at $3,950,000 52EastBeachDrive.com AMAGANSETT

Offered at $2,950,000 sothebyshomes.com/0047741 *in order from left to right, top to bottom

sothebyshomes.com/hamptons

Featured Properties

/ The Hamptons Q3 Market Update

Market Snapshot All Hamptons

Bridgehampton

410

$3.0

400

$2.5

390 $2.0

Southampton

380 370

$1.5

East Hampton

360

$1.0

350

Sag Harbor

$0.5

340 330

$0.0

2013

2014

2015

2016

*Price in Millions

Total Units Sold 31 187 52 121

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2017

Q3 Highlights All Hamptons

$5.0 $4.5 $4.0

Bridgehampton

$3.5

Southampton

$3.0 $2.5 $2.0 $1.5

East Hampton

Sag Harbor

$1.0 $0.5

Average Selling Price 4.4 $ 1.8 $ 1.9 $ 2.0 $

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 17 % 41% 12 % 30%

Bridgehampton East Hampton Sag Harbor Southampton

Q3 Highlights

/ The Hamptons Q3 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

18%

22%

-30%

-27%

7%

11%

Change

-12%

11%

0%

7%

50%

-1%

2017

187

147

31

12

15

391

2016

159

120

44

16

14

353

2015

159

159

42

16

9

385

2014

170

141

48

14

12

385

2013

213

132

31

11

10

397

Q3 {2017 v 2016} {2017 v 2013}

*Price in Millions

Sales & Price Comparison by Town All Hamptons | Five Years

$6.5 $6.0 $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

*Price in Millions

$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

Five Year Comparison

2017

/ The Hamptons Q3 Market Update

at a glance {Q3 | 2017}

bridgehampton

-22

%

Change in Average Selling Price {2017 v 2016}

+48

%

Change in Units Sold {2017 v 2016}

31 Units Sold

4.4m

$

Average Selling Price

|

Average Selling Price Total Units Sold $7,000,000

40

$6,000,000

35 30

$5,000,000

25

$4,000,000

20 $3,000,000

15

$2,000,000

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

-22%

-0%

48%

2017

$4,448,846

$2,500,000

31

2016

$5,735,269

$2,495,000

21

2015

$3,587,012

$2,815,650

38

2014

$4,817,828

$4,450,000

29

2013

$4,387,767

$3,610,000

30

Q3 {2017 v 2016}

Change

Bridgehampton

/ The Hamptons Q3 Market Update

|

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

200

$1,800,000

180

$1,600,000

160

$1,400,000

140

$1,200,000

120

$1,000,000

100

$800,000

80

$600,000

60

$400,000

40

$200,000

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

10%

8%

22%

2017

$1,805,591

$925,000

187

2016

$1,637,328

$855,000

153

2015

$1,743,961

$1,200,000

143

2014

$1,514,935

$950,000

169

2013

$1,517,703

$825,000

188

Q3 {2017 v 2016}

Change

The Hamptons Q3 Market Update / East Hampton

at a glance {Q3 | 2017}

east hampton

+10

%

Change in Average Selling Price {2017 v 2016}

+22

%

Change in Units Sold {2017 v 2016}

187 Units Sold

1.8m

$

Average Selling Price

at a glance {Q3 | 2017}

sag harbor

-28

%

Change in Average Selling Price {2017 v 2016}

+4

%

Change in Units Sold {2017 v 2016}

52 $1.9m Units Sold

Average Selling Price

|

Average Selling Price Total Units Sold 90

$3,000,000

80

$2,500,000

70 60

$2,000,000

50

$1,500,000

40 30

$1,000,000

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

-28%

4%

23%

2017

$1,881,932

$1,400,000

52

2016

$2,606,365

$1,350,000

67

2015

$1,525,639

$995,000

77

2014

$1,671,624

$1,238,525

50

2013

$1,301,220

$830,606

56

Q3 {2017 v 2016}

Change

Sag Harbor

/The Hamptons Q3 Market Update

|

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

160

$3,000,000

140 120

$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

-28%

-17%

8%

2017

$2,087,308

$1,087,500

121

2016

$2,883,360

$1,312,750

112

2015

$2,440,974

$1,500,000

127

2014

$2,760,438

$1,385,520

137

2013

$2,005,576

$1,250,000

123

Q3 {2017 v 2016}

Change

The Hamptons Q3 Market Update

/ Southampton

at a glance {Q3 | 2017}

southampton

-28

%

Change in Average Selling Price {2017 v 2016}

+8

%

Change in Units Sold {2017 v 2016}

121 $2m Units Sold

Average Selling Price

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

SAGAPONACK

Private Waterfront Modern Last Asking: $19,995,000

EAST HAMPTON

Oceanfront East Hampton Last asking $32,500,000 SOUTHAMPTON

Stylish First Neck Lane with Pool & Tennis Last asking $10,950,000 SAG HARBOR

Sag Harbor Sanctuary on 6.2 Acres Last asking $2,495,000 SOUTHAMPTON

Classy Traditional in Southampton Golf Country Last asking $1,575,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons Significant Sales

/ The Hamptons Q3 Market Update

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