The Hamptons Market Update | Q3 2019

Q3 | 2019

The Hamptons

Market Update

EAST HAMPTON

Offered at $55,000,000 EHOceanfront.com

SOUTHAMPTON

Offered at $19,000,000 80WyandanchLane.com

a message from

The Hamptons Brokerage Managers In the third quarter of 2019, the average sales price of Hamptons real estate east of the Shinnecock Canal fell year-over-year by 3%, from $1.99M in the third quarter of 2018 to $1.92M during the same period of 2019. Additionally, according to data compiled by the Long Island Real Estate Report, the total number of sold properties fell by 7% year-over-year from 328 properties sold in Q3 2018 to 304 properties in Q3 2019.

Nearly all price categories fell year-over-year, with the exception of properties sold above $10M, which saw an increase of 4% year-over-year from $124M in Q3 2018 to $129M in Q3 2019. Total volume sold decreased 6% while median sales price held flat year over year at $1.2M. East Hampton and Sag Harbor both saw an increase in median sales price of 5% and 16%, respectively, spurred on by an uptick in the number of homes sold above $6M in Q3 2019 versus Q3 2018.

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 71 countries and territories, here in the Hamptons we operate three local offices: in Southampton, Bridgehampton, and East Hampton. Sotheby’s International Realty has approximately 129 affiliated agents in the Hamptons who are “local experts worldwide.” Our brokers are well-versed in zoning, building and rental codes specific to each hamlet on the south fork. Our goal is 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 EAST HAMPTON BROKERAGE

Nanette Hansen, Brokerage Manager 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 OT H E BYS H O M E S.C O M / HAM PTON S BRIDGEHAMPTON

Offered at $14,000,000 111QuimbyLane.com

SAG HARBOR

Offered at $8,295,000 24EastHarborDrive.com EAST HAMPTON

Offered at $6,500,000 24JerichoClose.com SOUTHAMPTON

Offered at $5,950,000 277ToylsomeLane.com SAG HARBOR

Offered at $5,500,000 129StoneyHill.com *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

$3.0

450 400

$2.5 350 300

$2.0

Southampton 250 $1.5 200

East Hampton

150

$1.0

100

Sag Harbor

$0.5 50 $0.0

0

2015

2016

2017

2018

*Price in Millions

Total Units Sold 21 137 53 93

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2019

Q3 Highlights All Hamptons

(east of the Shinnecock Canal)

Bridgehampton

$4.0

$3.5

$3.0

Southampton

$2.5

$2.0

$1.5

Sag Harbor East Hampton

$1.0

$0.5

Average Selling Price 3.7 $ 2.0 $ 1.7 $ 1.5 $

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 13 % 47 % 16 % 24 %

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 -

2015

2016

2017

2018

2019 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%

-6%

-3%

-11%

0%

7%

Change

-20%

-19%

-26%

-50%

0%

-21%

2019

127

129

31

8

9

304

2018

141

137

32

9

9

328

2017

183

147

33

12

12

387

2016

163

122

44

16

14

359

2015

159

159

42

16

9

385

Q3 {2019 v 2018} {2019 v 2015}

*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

2015

2016

2017

2018

Average Selling Price

2019

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

2015

2016

2017

Five Year Comparison

2018

2019

/ The Hamptons Q3 Market Update

at a glance {Q3 | 2019}

bridgehampton

21 Units Sold

-22

%

Change in Units Sold {2019 v 2018}

3.7m -25 $

Average Selling Price

%

Change in Average Selling Price {2019 v 2018}

|

Average Selling Price Total Units Sold $6,000,000

40 35

$5,000,000

30 $4,000,000

25 20

$3,000,000

15

$2,000,000

10 $1,000,000

5 -

$-

2015

2016

2017

Average Selling Price

2018

2019

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

-25%

-31%

-22%

2019

$3,686,667

$2,062,500

21

2018

$4,918,402

$2,995,000

27

2017

$5,148,362

$2,329,000

36

2016

$5,507,365

$2,347,500

22

2015

$3,587,012

$2,815,650

38

Q3 {2019 v 2018}

Change

Bridgehampton

/ The Hamptons Q3 Market Update

|

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

200 180

$2,000,000

160 140

$1,500,000

120 100

$1,000,000

80 60

$500,000

40 20

$-

-

2015

2016

2017

Average Selling Price

2018

2019

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

17%

5%

-9%

2019

$2,005,500

$1,100,000

137

2018

$1,711,385

$1,050,000

151

2017

$1,343,539

$953,800

185

2016

$1,637,328

$855,000

153

2015

$1,743,961

$1,200,000

143

Q2 {2019 v 2018}

Change

The Hamptons Q3 Market Update / East Hampton

at a glance {Q3 | 2019}

east hampton

137 Units Sold

-9

%

Change in Units Sold {2019 v 2018}

2m

$

Average Selling Price

+17

%

Change in Average Selling Price {2019 v 2018}

at a glance {Q3 | 2019}

sag harbor

53 Units Sold

+18

%

Change in Units Sold {2019 v 2018}

1.7m +9 $

Average Selling Price

%

Change in Average Selling Price {2019 v 2018}

|

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

90 80

$2,500,000

70

$2,000,000

60 50

$1,500,000

40

$1,000,000

30 20

$500,000

10

$-

-

2015

2016

2017

Average Selling Price

2018

2019

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

9%

16%

18%

2019

$1,738,669

$1,475,000

53

2018

$1,589,961

$1,275,000

45

2017

$1,863,274

$1,405,000

56

2016

$2,586,418

$1,325,000

68

2015

$1,525,639

$995,000

77

Q3 {2019 v 2018}

Change

Sag Harbor

/The Hamptons Q3 Market Update

|

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

140

$2,500,000

120 100

$2,000,000

80 $1,500,000 60 $1,000,000

40

$500,000

20 -

$-

2015

2016

2017

Average Selling Price

2018

2019

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%

-9%

-11%

2019

$1,540,470

$1,093,750

93

2018

$1,795,217

$1,200,000

105

2017

$2,060,750

$1,097,000

110

2016

$2,811,4040

$1,250,000

116

2015

$2,440,974

$1,500,000

127

Q3 {2019 v 2018}

Change

The Hamptons Q3 Market Update

/ Southampton

at a glance {Q3 | 2019}

southampton

(east of the Shinnecock Canal)

93 Units Sold

-11

%

Change in Units Sold {2019 v 2018}

1.5m -14 $

Average Selling Price

%

Change in Average Selling Price {2019 v 2018}

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

EAST HAMPTON

West End Road, Unrivaled Location Last Asking Price $19,900,000

AMAGANSETT

Oceanviews in Amagansett South Last Asking Price $6,950,000 WATER MILL

Custom New Home Last Asking Price $4,850,000 BRIDGEHAMPTON

Sleek Modern in Bridgehampton Last Asking: $3,495,000 SOUTHAMPTON

Turnkey 2 Miles from the Beach Last Asking: $3,400,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons Significant Sales

/ The Hamptons Q3 Market Update

Exceptional Diamonds. Curated by Sotheby’s.

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