Log In   ·   Become A Member

Sag Harbor Is Hot While Southampton Village And East Hampton Village Cool Down

Nicole Barylski

Home sales were down in eight of the 12 hamlets, and Total Homes Sales Volume and Median Home Sales Price also took a hit with a decline in nine of the 12 locales. (Photo: Nicole Barylski)

The second quarter of 2016 was a challenging time for the Hamptons real estate market, according to a new report from Town and Country.

Home sales were down in eight of the 12 hamlets, and Total Homes Sales Volume and Median Home Sales Price also took a hit with a decline in nine of the 12 locales.

East Hampton Village, where the median home sales price is $2,375,000, suffered a drop of 53 percent in Total Homes Sales Volume (from $95 million to $45 million year to year), which was the greatest decline of all markets. Southampton Village, where the median home sales price is $1,650,000, also saw a dramatic drop of 48 percent from $86 million to $45 million. These statistics are similar to the 2015 report in comparison to 2014, making some wonder if this is becoming a trend.

"While the 2nd Quarter Home Sales Report proved what I have said about the $10 million and up price categories being hit the hardest, I do anticipate the next three months will see a seasonal up tick on the high end," explained Judi A. Desiderio, President, Town and Country. "Though, it is the stock market trajectory that dictates Hamptons high end sales. Just another cycle."

While Sag Harbor, which covers Noyack and North Haven as well, was on the rise. The area earned the largest gain in the Number of Home Sales with a 100 percent jump from 17 in 2015 to 34 in 2016. The Total Homes Sales Volume more than doubled from the previous year from $23.5 million to $58 million. Sag Harbor area's median home sales price was $1,191,700.

Shelter Island also showed promise with an increase in the Number of Home Sales, Total Homes Sales Volume and Median Home Sales Price ($950,000).

But, transactions in Amagansett have cooled down with 35 percent fewer homes leaving the market. Town & Country anticipates this was due to a price sensitivity, as Median Home Sales Prices are close to $2 million, both north and south of the highway.

Nicole is the Editor-in-Chief of Hamptons.com where she focuses on lifestyle, nightlife, and mixology. She grew up in the Hamptons and currently resides in Water Mill. www.hamptons.com NicoleBarylski NicoleBarylski

Related Articles:

Be the first to comment on this article. (Just fill out the form below)

Submit Your Comment

Please note, you are not currently logged in. Your comment will be submitted as a guest.
To submit your comment as a member, please click here.
Your Name:
* Comments will be reviewed and posted in a timely fashion
* All fields are required
What color is a firetruck?
(For spam prevention, thanks)
East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!

Advertise on Hamptons.com - Have your business be seen by over 2 million viewers including NEW searches
Hamptons.com- Our exclusive online magazine has 2.6 million Page Views YTD for 2015. Contact us to join our elite group of clients that benefit from having a presence on the Hamptons award winning publication www.Hamptons.com

Hamptons Carpet One Floor & Home
We pay less,and so do you.With over 1,000 stores in our buying group, we can get the lowest prices from the best flooring manufacturers and pass the savings on to you.Visit our other locations: Hamptons Carpet One Floor & Home, 675 North Sea Road,Southampton, NY 11968

Southampton Masonry-Visiting the Southampton or the Wainscott locations is an exciting experience.
Southampton Masonry has been serving Long Island's masonry and tile needs since 1975. Delivering quality products from Manhattan to Montauk for over three decades. The company's continued success is due primarily to their number one priority: customer satisfaction, with a promise of prompt and courteous service from the professional, knowledgeable staff. Southampton Masonry has the largest inventory on the east end. As direct importers they can offer a large variety of the finest quality products at the most competitive pricing for both your interior and exterior projects.

Despatch of Southampton
Despatch of Southampton has been moving homes locally on the East End for decades. We operate a well-maintained fleet of vehicles that can accommodate any size move. On a day to day basis we service moves from and to New York City.

RJD Gallery specializes in contemporary art with a focus on Magical, Figurative Realism, Narrative Portraiture and Urban Landscape.
We exhibit representational artists from around the world, who produce fine art of exceptional quality that challenge collectors to contemplate concepts about the artist, themselves, and our human experience. Utilizing timeless techniques in creating their drawings, paintings and sculptures, our artists have developed unique, signature styles that present a current vision of our world.