Hamptons Market Update | Q3 2018

Q3 | 2018

The Hamptons

Market Update

SOUTHAMPTON

1377MeadowLane.com Offered at $8,750,000

SAGAPONACK

Offered at $29,900,000 SagaponackSouthCompound.com

a message from

The Hamptons Brokerage Managers In the third quarter of 2018, the average sales price of Hamptons real estate east of the Shinnecock Canal increased year over year 3%, from $1.95M in 2017 to $2M in 2018, according to data compiled by the Long Island Real Estate Report. At the same time, the median sales price increased 13% from $1.1M in 2017 to $1.26M in 2018. Overall, total units sold decreased 18% from 387 units sold in third quarter of 2017 to 318 sales in the third quarter of 2017. As a result, total dollar volume dipped 15%, from $755M to $638M. No matter the state of the market, Sotheby’s International Realty Hamptons brokerages are uniquely positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 72 countries and territories, here in the Hamptons, we operate four local offices in Southampton, Bridgehampton, East Hampton and Sag Harbor. Sotheby’s International Realty has approximately 136 affiliated agents in the Hamptons who are “local experts worldwide.” Sotheby’s International Realty independent sales associates are well-versed in zoning, building and rental codes specific to each hamlet on the south fork. Our goal: to pair exceptional properties with exceptional clients while offering superior white glove service. We would be pleased to partner with you to achieve your real estate goals, whether buying or selling your home or locking in a vacation to remember in the Hamptons.

BRIDGEHAMPTON & SOUTHAMPTON BROKERAGES

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

Nanette Hansen, Brokerage Manager 6 Main Street | East Hampton, NY 11937 | 631.324.6000 35 Main Street | Sag Harbor, NY 11963 | 631.725.6000 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 OT H E BYS H O M E S.C O M / HAM PTON S SAG HARBOR

Offered at $6,200,000 SagHarborCaptainsManse.com

BRIDGEHAMPTON

Offered at $3,250,000 20Hull.com SAG HARBOR

Offered at 2,995,000 sothebyshomes.com/0048235 SAG HARBOR

Offered at $1,849,500 20MashomuckDrive.com SOUTHAMPTON

Offered at 1,750,000 sothebyshomes.com/0057749 *in order from left to right, top to bottom

sothebyshomes.com/hamptons

Featured Properties

/ The Hamptons Q3 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

$1.0

150 100

Sag Harbor

$0.5 50 $0.0

0

2014

2015

2016

2017

*Price in Millions

Total Units Sold 28 146 49 95

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2018

Q3 Highlights All Hamptons

(east of the Shinnecock Canal)

$5.0

Bridgehampton

$4.5 $4.0

Southampton

$3.5 $3.0 $2.5 $2.0

Sag Harbor East Hampton

$1.5 $1.0 $0.5

Average Selling Price 4.4 $ 1.8 $ 1.7 $ 1.8

$

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 19 % 41 % 13 % 26 %

Bridgehampton East Hampton Sag Harbor Southampton

Q3 Highlights

/ The Hamptons Q3 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

-31%

-4%

10%

-25%

-33%

-18%

Change

-26%

0%

-29%

-36%

-33%

-17%

2018

126

141

34

9

8

318

2017

183

147

33

12

12

387

2016

163

122

44

16

14

359

2015

159

159

42

16

9

385

2014

170

141

48

14

12

385

Q3 {2018 v 2017} {2018 v 2014}

*Price in Millions

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

$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

2014

2015

2016

2017

Average Selling Price

2018

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

2014

2015

2016

Five Year Comparison

2017

2018

/ The Hamptons Q3 Market Update

at a glance {Q3 | 2018}

bridgehampton

-10

%

Change in Average Selling Price {2018 v 2017}

-22

%

Change in Units Sold {2018 v 2017}

28 Units Sold

4.4m

$

Average Selling Price

|

Average Selling Price Total Units Sold 40

$6,000,000

35

$5,000,000

30 $4,000,000

25 20

$3,000,000

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

-10%

32%

-22%

2018

$4,389,195

$3,072,500

28

2017

$4,862,342

$2,329,000

36

2016

$5,507,365

$2,347,500

22

2015

$3,587,012

$2,815,650

38

2014

$4,817,828

$4,450,000

29

Q3 {2018 v 2017}

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

$-

-

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

35%

15%

-21%

2018

$1,807,166

$1,095,000

146

2017

$1,343,539

$953,800

185

2016

$1,637,328

$855,000

153

2015

$1,743,961

$1,200,000

143

2014

$1,514,935

$950,000

169

Q3 {2018 v 2017}

Change

The Hamptons Q3 Market Update / East Hampton

at a glance {Q3 | 2018}

east hampton

+35

%

Change in Average Selling Price {2018 v 2017}

-21

%

Change in Units Sold {2018 v 2017}

146 Units Sold

1.8m

$

Average Selling Price

at a glance {Q3 | 2018}

sag harbor

-8

%

Change in Average Selling Price {2018 v 2017}

-13

%

Change in Units Sold {2018 v 2017}

49 $1.7m Units Sold

Average Selling Price

|

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

90 80

$2,500,000

70 60

$2,000,000

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

-8%

-2%

-13%

2018

$1,707,173

$1,372,500

49

2017

$1,863,274

$1,405,000

56

2016

$2,586,418

$1,325,000

68

2015

$1,525,639

$995,000

77

2014

$1,671,624

$1,238,525

50

Q3 {2018 v 2017}

Change

Sag Harbor

/The Hamptons Q3 Market Update

|

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

160 140

$2,500,000

120 $2,000,000

100 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

-14%

13%

-14%

2018

$1,768,324

$1,245,000

95

2017

$2,060,750

$1,097,000

110

2016

$2,811,404

$1,250,000

116

2015

$2,440,974

$1,500,000

127

2014

$2,760,438

$1,385,520

137

Q3 {2018 v 2017}

Change

The Hamptons Q3 Market Update

/ Southampton

at a glance {Q3 | 2018}

southampton

(east of the Shinnecock Canal)

-14

%

Change in Average Selling Price {2018 v 2017}

-14

%

Change in Units Sold {2018 v 2017}

95 $1.8m Units Sold

Average Selling Price

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

SOUTHAMPTON

Classic Southampton Estate Compound Last Asking Price $17,500,000

SAGAPONACK

Narrow Lane Farm Last Asking Price $12,500,000 MONTAUK

Art & Home Last Asking Price $6,350,000 SAG HARBOR

Like New Construction in the Village Last Asking Price $2,595,000 SAG HARBOR

Sleek, Chich, Modern and Mooring Rights Last Asking Price $2,395,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons Significant Sales

/ The Hamptons Q3 Market Update

UPCOMING AUCTIONS LOS ANGELES 8 DECEMBER ARIZONA 17–18 JANUARY PARIS 6 FEBRUARY AMELIA ISLAND 9 MARCH FORT LAUDERDALE 29–30 MARCH

1963 Aston Martin DP215 Grand Touring Competition Prototype Sold for $21,455,000 at Monterey 2018

NOW INVITING CONSIGNMENTS FOR UPCOMING AUCTIONS HEADQUARTERS +1 519 352 4575 UK +44 (0) 20 7851 7070 NEW YORK +1 212 894 1562 GERMANY +49 172 7151 251 FRANCE +33 (0) 1 76 75 32 933