The Hamptons | Q3 Market Update

Q3 | 2020

The Hamptons

Market Update

AMAGANSETT

Offered at $11,900,000 TwelveWhalers.com

SAGAPONACK

Offered at $14,950,000 sothebysrealty.com/id/VQRVHK

a message from

The Hamptons Brokerage Managers Sotheby’s International Realty agents pivoted to a new way of conducting business in the second and third quarters of this year, adjusting to the health and safety demands of the pandemic. Open houses, showings, and property tours, all done virtually, became commonplace and our expert agents quickly adopted new technologies to continue to provide extraordinary service to our clients and customers.

Sales activity in the third quarter of 2020 in our market saw a dramatic increase year over year in all price points. Properly priced properties have regularly seen multiple parties vying for the top bid. Total dollar volume, average, and median sales price were all up throughout The Hamptons. Lease activity for this upcoming summer season exceeded all prior years.

As the world’s premier luxury real estate brand, Sotheby’s International Realty remains committed to providing the highest quality service to our clients and customers. Our virtual marketing platforms are continually being refined while reaching key demographics in luxury markets across the globe. Our newly improved website, Sothebysrealty.com, promotes our listings internationally and is performing beyond expectations with both number of visits as well as time spent on the site. Our YouTube channel hosts a curated collection of property videos throughout our network and broadcasts to over 320,000 subscribers from around the world—more than any other real estate channel.

While continuing to develop and implement cutting edge technologies, our agents remain well-versed in zoning, building, and rental codes specific to each hamlet on the South Fork. Our goal is to continue 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 preparing for your next summer rental in The Hamptons We wish you and your family good health and prosperity in the months ahead.

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 sothebysrealty.com 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 EBYS R EALTY.COM SOUTHAMPTON

Offered at $24,950,000 275OxPastureRoad.com

EAST HAMPTON

Offered at $15,950,000 LousePointCompound.com EAST HAMPTON

Offered at $5,890,000 28HedgesBanks.com EAST HAMPTON

Offered at $3,250,000 105GerardDrive.com QUIOGUE

Offered at $6,900,000 20SaintGeorgePlace.com *in order from left to right, top to bottom

sothebysrealty.com

Featured Properties

/ The Hamptons Q3 Market Update

Market Snapshot All Hamptons

(east of the Shinnecock Canal)

Bridgehampton 500

$3 .0

450 $2 .5

400 350

$2 .0

Southampton

300 250

$1.5

200

East Hampton

Sag Harbor

$1.0

150 100

$0.5

50 $0.0

0

2016

2017

2018

2019

*Price in Millions

Total Units Sold 39 212 64 146

Average Selling Price vs. Total Units Sold

Bridgehampton

Average Selling Price

East Hampton

Total Units Sold

Sag Harbor Southampton

2020

Q3 Highlights All Hamptons

(east of the Shinnecock Canal)

Bridgehampton

$7.0

$6.0

$5.0

Southampton

$4.0

$3.0

East Hampton

$2.0

$1.0

Sag Harbor

Average Selling Price 6.1 $ 1.9 $ 2.0 $ 2.5 $

Bridgehampton East Hampton Sag Harbor Southampton *Price in Millions

Southampton

Sag Harbor

East Hampton

Bridgehampton

$-

*Price in Millions

Total Dollar Volume 9% 41 % 13 % 37 %

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)

500 450 400 350 300 250 200 15 0 100 50 -

2016

2017

2018

2019

2020 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%

61%

142%

100%

133%

38%

Change

-15%

73%

82%

13%

0%

28%

2020

138

211

80

18

14

461

2019

154

131

33

9

6

333

2018

141

137

32

9

9

328

2017

180

143

32

12

9

376

2016

163

122

44

16

14

359

Q3 {2020 v 2019} {2020 v 2016}

*Price in Millions

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

$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

2016

2017

2018

2019

Average Selling Price

2020

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

2016

2017

2018

2019

Five Year Comparison

2020

/ The Hamptons Q3 Market Update

at a glance {Q3 | 2020}

bridgehampton

39 Units Sold

+77

%

Change in Units Sold {2020 v 2019}

6.1m +59 $

Average Selling Price

%

Change in Average Selling Price {2020 v 2019}

|

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

45 40

$6,000,000

35 $5,000,000

30

$4,000,000

25

$3,000,000

20 15

$2,000,000

10 $1,000,000

5 -

$-

2016

2017

2018

Average Selling Price

2019

2020

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

59%

17%

77%

2020

$6,124,614

$3,250,000

39

2019

$3,846,818

$2,775,000

22

2018

$4,918,402

$2,995,000

27

2017

$4,179,023

$2,121,500

30

2016

$5,507,365

$2,347,500

22

Q3 {2020 v 2019}

Change

Bridgehampton

/ The Hamptons Q3 Market Update

|

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

250

$2,000,000

200

$1,500,000

150

$1,000,000

100

$500,000

50

$-

-

2016

2017

2018

Average Selling Price

2019

2020

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

6%

15%

43%

2020

$1,931,470

$1,262,500

212

2019

$1,818,900

$1,100,000

148

2018

$1,711,385

$1,050,000

151

2017

$1,333,164

$950,000

181

2016

$1,637,328

$855,000

153

Q3 {2020 v 2019}

Change

The Hamptons Q3 Market Update / East Hampton

at a glance {Q3 | 2020}

east hampton

212 Units Sold

+43

%

Change in Units Sold {2020 v 2019}

1.9 m

$

Average Selling Price

+6

%

Change in Average Selling Price {2020 v 2019}

at a glance {Q3 | 2020}

sag harbor

64 Units Sold

+10

%

Change in Units Sold {2020 v 2019}

2.0m +17 $

Average Selling Price

%

Change in Average Selling Price {2020 v 2019}

|

Average Selling Price Total Units Sold 80

$3,000,000

70

$2,500,000

60 $2,000,000

50 40

$1,500,000

30

$1,000,000

20 $500,000

10 -

$-

2016

2017

2018

Average Selling Price

2019

2020

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

17%

9%

10%

2020

$1,975,475

$1,437,500

64

2019

$1,693,072

$1,320,000

58

2018

$1,589,961

$1,275,000

45

2017

$1,863,274

$1,405,000

56

2016

$2,586,418

$1,325,000

68

Q3 {2020 v 2019}

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 -

$-

2016

2017

2018

Average Selling Price

2019

2020

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

67%

95%

39%

2020

$2,508,605

$1,900,000

146

2019

$1,504,183

$975,000

105

2018

$1,795,217

$1,200,000

105

2017

$2,075,148

$1,099,000

109

2016

$2,811,404

$1,250,000

116

Q3 {2020 v 2019}

Change

The Hamptons Q3 Market Update

/ Southampton

at a glance {Q3 | 2020}

southampton

(east of the Shinnecock Canal)

146 Units Sold

+39

%

Change in Units Sold {2020 v 2019}

2.5m +67 $

Average Selling Price

%

Change in Average Selling Price {2020 v 2019}

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

SAGAPONACK

3.5Âą Acres Sagaponack South Last Asking Price $12,950,000

SOUTHAMPTON

Meadow Lane Oceanfront Beach House Last Asking Price $39,000,000 SOUTHAMPTON

Legendary Pondfront, 375± ft to Ocean Last Asking Price $10,000,000 MONTAUK

Ocean Views In Montauk Last Asking Price $5,950,000 SAGAPONACK

Overlooking Reserve In Sagaponack Last Asking Price $5,750,000 *in order from left to right, top to bottom

sothebysrealty.com Significant Sales

/ The Hamptons Q3 Market Update

PHOTO BY GIAMMARCO BOSCARO ON UNSPLASH

w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com

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