Q1 2019 | Hamptons Market Update

Q1 | 2019

The Hamptons

Market Update

SOUTHAMPTON

Offered at $22,500,000 354SouthMainStreet.com

SOUTHAMPTON

Offered at $20,950,000 11ChristopherStreet.com

a message from

The Hamptons Brokerage Managers In the first quarter of 2019, the average sales price of Hamptons real estate east of Shinnecock Canal decreased year over year by 6%, from $2.27M in 2018 to $2.13M in 2019, according to data compiled by the Long Island Real Estate Report. The median sales price increased 12%, from $1.23M in 2018 to $1.38M in 2019. Overall, total units sold decreased 18%, from 330 units in first quarter of 2018 to 270 units in the first quarter of 2019. As a result, total dollar volume dipped 23% from $749M to $574M. 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 agents are wellversed 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 BRIDGEHAMPTON

Offered at $14,995,000 SothebysHomes.com/0048372

SAG HARBOR

Offered at $7,995,000 43Suffolk.com SOUTHAMPTON

Offered at $7,495,000 40HerrickRoad.com REMSENBURG

Offered at $4,595,000 SothebysHomes.com/1051158 SAG HARBOR

Offered at $1,500,000 SothebysHomes.com/1051139 *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 $1.5 200 150

$1.0

East Hampton Sag Harbor

100 $0.5 50 $0.0

0

2015

2016

2017

2018

*Price in Millions

Total Units Sold 25 126 43 76

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2019

Q1 Highlights All Hamptons

(east of the Shinnecock Canal)

$4.5

Bridgehampton

$4.0

Southampton

$3.5 $3.0 $2.5

Sag Harbor

$2.0 $1.5

East Hampton $1.0 $0.5

Average Selling Price 4.0 $ 2.2 $ 1.8 $ 1.6

$

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 17 % 48 % 13 % 21%

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 -

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

-17%

-14%

-37%

-6%

-30%

-18%

Change

-45%

-28%

-33%

45%

-42%

-35%

2019

109

112

26

16

7

270

2018

132

130

41

17

10

330

2017

141

132

54

14

5

346

2016

170

137

40

8

9

364

2015

198

155

39

11

12

415

Q1 {2019 v 2018} {2019 v 2015 }

*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

2015

2016

2017

2018

Average Selling Price

2019

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

2015

2016

2017

2018

Five Year Comparison

2019

/ The Hamptons Q1 Market Update

at a glance {Q1 | 2019}

bridgehampton

-7

%

Change in Average Selling Price {2019 v 2018}

-11

%

Change in Units Sold {2019 v 2018}

25 Units Sold

4.0m

$

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

$-

-

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

-7%

-3%

-11%

2019

$3,960,030

$3,200,000

25

2018

$4,240,018

$3,300,000

28

2017

$3,615,900

$3,369,000

18

2016

$3,639,910

$2,362,500

30

2015

$4,993,350

$2,978,500

42

Q1 {2019 v 2018}

Change

Bridgehampton

/ The Hamptons Q1 Market Update

|

Average Selling Price Total Units Sold 200

$2,500,000

180 160

$2,000,000

140 120

$1,500,000

100 80

$1,000,000

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

11%

34%

-20%

2019

$2,189,699

$1,400,000

126

2018

$1,976,605

$1,045,000

157

2017

$1,564,582

$955,000

173

2016

$2,332,953

$992.150

172

2015

$1,500,207

$957,500

180

Q1 {2019 v 2018}

Change

The Hamptons Q1 Market Update / East Hampton

at a glance {Q1 | 2019}

east hampton

+11

%

Change in Average Selling Price {2019 v 2018}

-20

%

Change in Units Sold {2019 v 2018}

126 Units Sold

2.2m

$

Average Selling Price

at a glance {Q1 | 2019}

sag harbor

+34

%

Change in Average Selling Price {2019 v 2018}

+5

%

Change in Units Sold {2019 v 2018}

43 $1.8m Units Sold

Average Selling Price

|

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

80 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

34%

-5%

5%

2019

$1,763,673

$1,275,500

43

2018

$1,320,873

$1,340,000

41

2017

$2,163,615

$1,567,500

61

2016

$1,469,800

$972,500

70

2015

$1,350,056

$920,000

67

Q1 {2019 v 2018}

Change

Sag Harbor

/The Hamptons Q1 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

-37%

-38%

-27%

2019

$1,620,751

$852,000

76

2018

$2,560,784

$1,380,000

104

2017

$2,808,908

$1,595,000

94

2016

$2,266,817

$1,200,000

92

2015

$2,162,283

$1,130,000

126

Q1 {2019 v 2018}

Change

The Hamptons Q1 Market Update

/ Southampton

at a glance {Q1 | 2019}

southampton

(east of the Shinnecock Canal)

-37

%

Change in Average Selling Price {2019 v 2018}

-27

%

Change in Units Sold {2019 v 2018}

76 $1.6m Units Sold

Average Selling Price

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

EAST HAMPTON

Exceptional Lee Avenue Estate Last Asking Price $20,000,000

EAST HAMPTON

Stylishly Updated East Hampton Estate Last Asking: $11,995,000 WATER MILL

Serenity in Water Mill with Tennis Last Asking: $7,495,000 SOUTHAMPTON

World-Class New Village Home with Pool Last Asking Price $5,400,000 EAST HAMPTON

Elegant, Turn-Key Homes, Private Setting Last Asking Price $1,695,000 *in order from left to right, top to bottom

sothebyshomes.com/hamptons Significant Sales

/ The Hamptons Q1 Market Update

UNRIVALED

GLOBAL PERFORMANCE

$112 BILLION ANOTHER RECORD YEAR IN ANNUAL GLOBAL SALES IN 2018

990 22,500 72 OFFICES

AGENTS

COUNTRIES

1 3 OUT OF

OFFICES IS OUTSIDE OF THE UNITED STATES

31 MILLION VISITS TO SOTHEBYSREALTY.COM 13% INCREASE YEAR OVER YEAR

180,000 YOUTUBE SUBSCRIBERS SILVER CREATOR AWARD WINNER

Featured Property:

40DUNEROAD.COM | BRIDGEHAMPTON, NY 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.