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Hamptons.com
January 25, 2018

Hamptons Real Estate Market Closes Out 2017 On A High Note

Nicole Barylskiby Nicole Barylski
in Real Estate
Home Real Estate

“The market in the Hamptons saw rising prices and sales volume, paired with a large decrease in inventory this quarter,” said Carl Benincasa, Douglas Elliman’s Regional Vice President of Sales for the Hamptons. “With prices steadily increasing now for the fourth consecutive quarter, overall market conditions have been solid.”

Douglas Elliman’s Hamptons Sales Q4 2017 Report notes that the Hamptons median sales price increased 7.6 percent to $995,000, but the average sales price dropped 9.7 percent to $1,839,641. The number of sales increased 5.3 percent to 552 and the listing inventory dramatically dropped 42.5 percent to 756.

“The last three months of 2017 was a solid performance for Hampton home sales,” shared Judi A. Desiderio, Town & Country Chief Executive Officer. That’s especially true for East Hampton Village, which Town & Country notes had the highest median home sales price of its 4th Quarter Hamptons Home Sales Report. The Village’s $3.1 million median home sales price was a 29 percent leap from 2016.

“Town & Country’s Year End Home Sales Report is just being inked now and show the momentum of last year’s activity,” Desiderio said. “While 2017 was a good year, we expect 2018 to be even better. All the factors that drive our markets are poised to heighten demand.”

On the East End, both closed sales and sales volume saw double-digit growth compared to a year ago.

“It was a very robust quarter for us on the East End, both the North and South Forks,” Ernest Cervi, Regional Senior Vice President of Corcoran’s East End offices, explained. “Even though we were expecting a healthy market, I don’t think anyone could have predicted it would have been this strong!”

The East Hampton/Wainscott saw the largest number of South Fork sales (128), which was a 62 percent increase from last year. East Quogue/Hampton Bays’ 99 sales resulted in the second highest number of South Fork sales. It was a 30 percent increase from the fourth quarter of 2016.

“Value is driving today’s market, and we have been seeing many first-time home buyers looking for summer homes this quarter who are snapping up the well-priced inventory,” Cervi reflected. “The North Fork also continues to be incredibly popular with buyers looking for value, which we have continued to see represented in our reports for years.”

In 2017, there were over 40 sales over $10 million. However, more than 68 percent of all sales in the Hamptons and over 85 percent on the North Fork came in at below $2 million in the fourth quarter.

“The jump in activity reported in the 4th Quarter 2017 versus 2016 shows buyers stepping forward with more confidence to invest in this market after the uncertainties of the 2016 election year, and also shows that sellers have become more realistic in their asking prices,” said Aspasia G. Comnas, Executive Managing Director, Brown Harris Stevens of the Hamptons, LLC. “While there was an increase in activity everywhere, the incredible jump reported for Sagaponack should be weighed against the small number of transactions for that area (6 in 4Q 2017 v. 3 in 4Q 2016) – it does not take much to skew the numbers in such a small market area.”

13 of the 14 South Fork market areas monitored by Corcoran saw increased sales activity. Compared to the fourth quarter of 2016, the South Fork/Hamptons closed sales grew by 34 percent to 581.

“Overall, the activity that we are currently witnessing in the first quarter leads us to believe that the remainder of the quarter will be very strong,” Cervi concluded.

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The Sag Harbor Partnership Officially Takes Over Ownership Of Sag Harbor Cinema

The Sag Harbor Partnership Officially Takes Over Ownership Of Sag Harbor Cinema

  • 167 Dune Road, Bridgehampton, NY 11932⁠
Saunders Exclusive: $42,500,000⁠
@jenniferwilsonhamptons 
@edbruehl @leemohlerehamptons 
@hamptonsrealestate 
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Experience extraordinary coastal living with this exquisite oceanfront estate on Dune Road in Bridgehampton. ⁠
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Designed by the renowned architect Francis Fleetwood, this remarkable property boasts 300 feet of private ocean frontage, complete with its own private boardwalk leading directly to the beach, all set on over 3 acres of prime land.⁠
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The charming shingle-style residence encompasses 4,200 +/- sq. ft. of luxurious living space, featuring 5 bedrooms and 5 full bathrooms, plus an additional half bath.⁠
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Read the full article at Hamptons.com (Link in Bio)⁠
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#duneroad #oceanfront #bridgehampton #realestate #hamptons #francisfleetwood ⁠
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  • The Hamptons have seen their fair share of collaborations and takeovers this summer. Still, nothing compares to The h.wood Group and Chase Sapphire Reserve’s transformation of Montauk hotspot Mary Lou’s into Delilah Montauk.⁠
⁠
The four-day takeover combined unforgettable dining experiences with show-stopping live entertainment featuring performances by Zack Bia, Alesso, Gwen Stefani, and DJ Pee.Wee (Anderson Paak). ⁠
⁠
Exclusively for Chase Sapphire Reserve cardholders, diners were treated to white glove hospitality and Delilah’s staples, including the famous chicken tenders and tuna tartare, and bold twists on Hamptons classics like lobster rolls, striped bass crudo, and crab and avocado toast. 

Check out more at Hamptons.com (Link in Bio)

#gwenstefani #alesso #djpeewee #chasesapphirereserve #delilahmontauk #montauk #hamptons
  • LVIS thrift shops are open Tuesdays through Saturdays 10 AM through 5 PM

donations are accepted Wednesday through Saturday 10 AM through 1 PM by appointment 

located at 95 Main St East Hampton
  • Check out the Top Hamptons Events This Weekend!⁠
⁠
🚗 The Bridge IX⁠
📅 Sat, Sept 13 | 2–7PM⁠
📍 The Bridge, Bridgehampton⁠
Over 300 rare automobiles showcased across stunning landscapes.⁠
⁠
🎬 23rd Annual Surf Movie Night⁠
📅 Fri, Sept 12 | 5:30–9PM⁠
📍 Southampton Arts Center⁠
Surfboard swap, live music & outdoor film screening. 🌊⁠
⁠
🍝 San Gennaro Feast of the Hamptons⁠
📅 Sat, Sept 13 – Sun, Sept 14 | 10AM⁠
📍 Hampton Bays⁠
Italian pastries, live entertainment & fireworks Sat @ 8:15PM 🎆⁠
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🎭 In Process: Roderick George⁠
📅 Sat, Sept 13 | 7PM⁠
📍 Guild Hall, East Hampton⁠
A special in-process presentation of The Missing Fruit (Part I).⁠
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🎤 Sheena Easton at WHBPAC⁠
📅 Sat, Sept 13 | 8PM⁠
📍 Westhampton Beach PAC⁠
Grammy-winning artist live on stage!⁠
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☕ Cars & Coffee⁠
📅 Sun, Sept 14 | 9–11AM⁠
📍 Bridgehampton Museum⁠
Classic & exotic cars, food, drinks & live music.⁠
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🛍 Hampton Vintage⁠
📅 Sun, Sept 14 | 10AM–5PM⁠
📍 Westhampton Beach Village Green⁠
Shop unique vintage finds!⁠
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🎶 Hamptons Festival of Music Finale⁠
📅 Sun, Sept 14 | 4PM⁠
📍 St. Luke’s Church, East Hampton⁠
Featuring Cimarosa, Berlioz & Beethoven.⁠
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🍷 Wine Dinner with Pradorey at R.AIRE⁠
📅 Tues, Sept 16 | 6:30PM⁠
📍 Hampton Bays⁠
Five-course tasting menu with exquisite wine pairings.⁠
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🎥 Toy Story 30th Anniversary Screening⁠
📅 Sept 12–15 | Various Times⁠
📍 Southampton Playhouse⁠
Celebrate Woody & Buzz’s timeless adventure!⁠
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Check out more events at Hamptons.com (Link in Bio)⁠
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#carshow #hamptons #sangennaro #sangennarofeast #winedinner #bridgeIX
  • The Animal Rescue Fund of the Hamptons (ARF Hamptons) hosted the Bow Wow Meow Ball in East Hampton. The evening’s honorees, Ellen and Chuck Scarborough, were presented with the Champion of Animals Award, recognizing their more than twenty-five years of support to ARF. ⁠
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Over 400 guests celebrated ARF’s remarkable work with cocktails, followed by dinner catered by Olivier Cheng. Peter Marino, accompanied by his daughter and ARF Board Member Isabelle Trapnell Marino, presented the Scarboroughs with their award. ⁠
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📸: Patrick McMullan/PMC⁠
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Check out the full gallery at Hamptons.com (Link in Bio)⁠
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#arf #bowwowmeowball #hamptons #animalrescuefund #animalrescue
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