Everything You Need to Know About Hamptons Real Estate Right Now



Everything You Need to Know About Hamptons Real Estate Right Now

Finding a home in the Hamptons is a difficult dance right now, with limited housing stock breeding competition among eager buyers. “We’re starting to see the inventory get swept up,” says broker Gary DePersia of the Corcoran Group. “A lot of the properties that have been on the market for a year or more are now in contract.” Corcoran reports that the number of sales on the South Fork increased 34 percent from the fourth quarter of 2016 to the fourth quarter of 2017. Meanwhile, the median price barely changed, dropping one percent, to $985,000. Inventory also moved on the North Fork, where the number of year-over-year sales rose 11 percent and the median price increased seven percent, to $533,000. 

Agents have been carefully watching the area west of the Shinnecock Canal—particularly Quogue and Westhampton Beach, which have recently experienced price bumps. “It’s unusual to see a house above $10 million west of the canal,” says Enzo Morabito of Douglas Elliman Real Estate, “but there are currently two homes on Dune Road listed for more than $20 million.” Rose Alfano, a Daniel Gale Sotheby’s International Realty agent in Westhampton Beach, adds, “Last year was a very big year, and it looks like the buying frenzy will continue. People are scooping up whatever comes onto the market. And Westhampton and Quogue are a hop, skip, and a jump to Manhattan.” According to a report from her agency, the number of sales in Quogue increased 49 percent from 2016 to 2017, with the median price growing 53 percent, to $1.85 million, and the highest price nearly doubling to $16 million.

Everything You Need to Know About Hamptons Real Estate Right Now

Another under-the-radar area that’s seeing more action is Springs. “It never developed as a high-end market, so it’s a wonderful place for someone looking for a deal or a renovation project,” says DePersia, who claims that buyers don’t feel the need to be near the ocean like they once did. “There are so many possibilities when you move away from the beach, and more people are using their homes all year long.”

As for rentals, websites such as Airbnb continue to pose stiff competition on the lower end, says DePersia, but “landlords whose seasonal rentals range from $100,000 to $1 million aren’t listing in an environment where they have no idea who’s living in their house.” That said, the demand for luxury rentals has also surged, making it even more difficult for prospective tenants with deep pockets to get a piece of the Hamptons this summer. 

To snap up stellar properties that are still for sale, make sure to check our coverage of recent Hamptons listings

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17 Brush Island Road, Darien, CT
Sitting elevated on 1.23 acres with 430 feet of shoreline, with private dock and sandy beach, pool with automatic cover, green roof garden, extensive landscaping and terraces, this custom 7,900 square foot family home exudes warmth and country elegance with water views from nearly every room. With a breathtaking master suite, and incredible architectural and artistic details throughout, Brush Island is a year round oasis where outside spaces integrate seamlessly with unique natural surroundings.



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NO RESERVE AUCTION. Fully Renovated
4 Bedroom Federal Home in
Southport, Connecticut

A coastal gem! Historic home reimagined with no expense spared. Famed architect Jack Franzen and designer Tom Scheerer have created a truly stunning masterpiece of colonial living. Marvelous views of Southport Harbor, Long Island Sound, and the Country Club of Fairfield golf course. Take a stroll to Pequot Yacht Club, shops, restaurants and the train. This seaside home is the ideal New England estate.



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Lake Front Compound in Greenwich
Private compound on 5.7 lakefront acres in the estate section of Greenwich CT. Meticulous attention to detail with luxury finishes and extraordinary workmanship seen throughout this 9 bedroom Georgian Colonial. Guest House with professional recording studio and living quarters. Extensive terraces and gardens, pool, pool pavilion all overlooking lake with its own island.



View more details about this Lake Front Compound in Greenwich

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53 Myanos Road, New Canaan, CT
The Gratwick House was designed by Mid Century architect Victor Christ-Janer and further enhanced and improved by important architect/owner Harvey Kaufman. Built in 1953, this 3,696 SF 4-Bedroom, 2.5-Bath home sits on a rise with gorgeous views of a stunning oval swimming pool. Large entertaining spaces with floor to ceiling windows look out to a sweeping lawn in back and manicured courtyard to the side. This house is the perfect culmination of architectural significance & livability.



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11 Musket Ridge Road, Wilton CT
Perched at the top of a roaring Silvermine River waterfall on almost 4 acres, the property spreads out into Wilton and New Canaan. Every inch of this home has been perfected to capture the timeless appeal of the river while exuding ultimate refinement and good taste. The architect-designed home captures river views and sounds, and almost every room opens to one of the magnificent decks or to a private balcony. Call Ileana Barns Slavin Associates-William Raveis at (203) 246-7215.

11 Musket Ridge Road

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