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Hamptons Real Estate Prices Are On The Rise

Nicole Barylski by Nicole Barylski
July 27, 2017
in Real Estate
Home Real Estate

The Hamptons real estate market is on the rebound. After a lackluster 2016, the first two quarters of 2017 have showed significant sales increase, with sales being at their highest level in two years, according to Douglas Elliman Q2 2017 Hamptons Sales Market Reports.

“Sales activity in the Hamptons has been quite robust after a somewhat lackluster two years, along with a continued decline in inventory. What’s most interesting is that we are seeing more sales at the upper end of the market, something that was lacking last year,” noted Scott Durkin, COO, Douglas Elliman. “The North Fork showed a similar pattern. Both markets had noticeable improvement.”

The median Hamptons sales price increased 5.6 percent to $1,030,000, and the average sales price also grew, increasing by 12.7 percent to $1,898,934. The number of sales increased 22.8 percent to 689, while days on market was 150, down from 170, and listing discount dropped to 12 percent, a .4 percent fall.

“After an underperforming 2016, the first two quarters of 2017 showed a pronounced increase in activity in the Hamptons, with sales at their highest levels in two years,” noted Jonathan Miller of Miller Samuel, Inc, the author of the report. “The North Fork mirrored the Hamptons, with the number of sales rising year over year for the fourth time in five quarters. Inventory slipped in both markets, as price indicators moved higher. At the same time, the Long Island market to the west saw rising sales and falling inventory for an unprecedented ten consecutive quarters and the least negotiability in twelve years.”

Listing inventory fell 4.1 percent to 1,464. “We’re experiencing extremely heavy sales, rising prices and low inventory here on Long Island,” echoed Ann Conroy, President, Long Island Division, Douglas Elliman. “With intense sales volume burning off supply faster than it can be created, prices are rising. There’s no question that the Long Island market is booming!”

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  • Join Arootah in the Hamptons! @arootahcoach @imentororg 

The Hamptons Summer Fête
Wednesday, Aug. 17 
from 6 p.m. to 10 p.m. 

Save Your Spot 
Share a drink and hors d’oeuvres, enjoy live music, and bid on items. 

Join for their fundraiser event to support iMentor youth. 

RSVP in our LinkTree⬆️
#fundraiser #imentor #imentornyc #Hamptons #mentor
  • Broadway Out East Returns with the Biggest Stars Performing at Calissa

Broadway Out East returns this summer season at local hotspot Calissa. The Mediterranean hotspot located at 1020 Montauk Highway will host a series of performances by some of Broadway’s most talented stars including Andrew Barth Feldman, Teal Wicks, Kathryn Allison, and Brandon Victor Dixon. Broadway Out East is produced by Justin Smith, the Concertmaster of Dear Evan Hansen.  Performances at Calissa will take place each Thursday from August 11th, through August 25th. @calissahamptons

Read the full article at Hamptons.com (Link in Bio) #calissa #broadway #hamptons #summer #broadwayouteast
  • The 2022 Hampton Designer Showhouse Returns to the Hamptons this Summer

The highly acclaimed Hampton Designer Showhouse will return this Summer to Southampton, NY with a completed reimagined stately home presented by HC&G (Hamptons Cottages & Gardens). For the past 22 years, the Hampton Designer Showhouse has been the showcase for some of America’s premier design talent and has raised nearly $2M for Stony Brook Southampton Hospital since its inception. @hamptondesignershowhouse

Read the full article at Hamptons.com (Link in Bio) #hamptonsdesignershowhouse #designershowhouse #hamptons #hamptonsdesigns
  • The Oscar Molina Gallery’s Molina / Vignoli Exhibition

The Oscar Molina Gallery announces the exhibition Molina / Vignoli  that will be on view from August 11th to August 22nd.. Curated by Esperanza León, the exhibition at this intimate space on Jobs Lane brings together a selection of works by Oscar Molina and Fernando Vignoli for whom the interpretation of human dramas—individual and global—is a consistent theme. Paintings from Molina’s Raindrops series, such as the recent 66 x 120-inch, untitled acrylic on canvas, will be featured with four of Vignoli’s works, including the prominent 73 x 73-inch oil on canvas from 2008 titled Time Does Not Stop. @omolina.arts

Read the full article at Hamptons.com (Link in Bio) #oscarmolina #art #local #hamptons
  • Léon 1909 Debuts on Shelter Island

On Sunday, August 7, owner & restaurateur Valerie Mnuchin welcomed a lively crowd of Shelter Island neighbors, local business owners, tastemakers, friends and family to preview Léon 1909, her transportive, new restaurant opening to the public this week on Thursday, August 11. @leonshelterisland

Read the full article at Hamptons.com (Link in Bio) #leon1909 #shelterisland #hamptons #dining #french
  • Mykola Khodorovsky at Art Market Hamptons

Art Market Hamptons will return to the Hamptons for the twelfth edition in August 2022. The premier art fair will be held August 11-14 in Water Mill. It will feature 85 top galleries, several of which are located on the East End, as well as Nova’s Ark Project & Sculpture Garden. @artmarketproductions @mykola_fine_art

One of the artists in attendance this year is Mykola Khodorovsky of Mykola Fine Art, a multi-talented painter, who has traveled from Florida for the anticipated event in the Hamptons. He spoke more about his artwork, his influences, and what those in attendance can expect from Art Market Hamptons beginning this Thursday!

Read the full article at Hamptons.com (Link in Bio) #hamptons #artmarket #art #local #watermill #artfair
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