Christopher Covert
Phone
(917) 834-0635
Email
covert@modlingroup.com
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September 27, 2021 The Hamptons market is in a unique place right now as many of our Clients seem to be in a transitional period, with life returning to a new normal, and the focus directed back towards the City at this moment.
November 3, 2021 As we head into the last few weeks of the year, all data continues to show an incredibly strong Hamptons luxury real estate market as sales volume is steady, prices continue to increase, and inventory contracts further.
February 15, 2022 In 2021, there was a 30% YoY increase in transactional volume for properties priced above $5M in the Hamptons. The luxury market is still extremely active and in January 2022, 18 properties priced in the same sector were new on the market, while 22 went under contract - even more if you include off-market deals.
March 8, 2022 The total number of available listings for sale in the Hamptons real estate market declined 40.9% YoY for March 1, 2022, but increased 0.2% between February 1 and March 1, 2022. Listing supply has reached a plateau over the last three months, yet the med
April 16, 2022 "The median sold price in the Hamptons increased 0.5% month over month and 16.3% year over year for March 2022..." "Contract activity was down in all areas east of the Shinnecock canal, except East Hampton and Sagaponack, a reflection of available inventory going into March this year compared to last..." "Some have started to speculate on how changes in financial markets will impact Hamptons home prices and sales..."
May 11, 2022 Spring on the East End can mean a lot of things - like 74º and sunny one day, and 47º and raining sideways the next. But it's change that makes things exciting, and it certainly feels like change is coming to the Hamptons Real Estate Market. Looking at Q1 2022, Average and Median Prices were up 35% and 20% respectively, with Bridgehampton showing a whopping 69% average price increase YOY. However an early look at April numbers show new Inventory outpacing Sales and New Contracts for the second time in three months, which may lead to a more balanced market. Then of course there are the abysmal Wall Street numbers for April and the first week of May, increasing interest rates, a plodding and expensive war in Eastern Europe, and, well, consumer confidence is understandably eroding. All of these things point to changes in the market, and I anticipate a dynamic Summer.
June 1, 2022 As we head into the summer months, I wanted to take a quick reflection of where we are with the Hamptons Real Estate Market, and share some thoughts about where we think things are headed. For two months in a row (and likely three when the May numbers come in) we will have seen a balancing of inventory with more new listings coming to market than those going into contract.
July 13, 2022 Summer is well under way out on the East End, and with it the usual crowds, parties, traffic, openings, special events, impossible parking, hard to get reservations, and a run at the wine stores on rosé.
August 17, 2022 So where are we and where does the market go? This is always the question when discussing Hamptons Real Estate, and if I only had a crystal ball….
