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The Covert REport - 2025 Kickoff

The Covert REport - 2025 Kickoff

January 14, 2025 Happy New Year to all from our Bridgehampton office.  As we thought might happen, the Hamptons real estate market is off to a very busy start - both for rentals and sales,... VIEW MOREJanuary 14, 2025 Happy New Year to all from our Bridgehampton office.  As we thought might happen, the Hamptons real estate market is off to a very busy start - both for rentals and sales, and we anticipate an active few months ahead.  VIEW LESS
The Covert REport - November Data & Happy Holidays from the East End

The Covert REport - November Data & Happy Holidays from the East End

December 5, 2024 As the year wraps up and we head into the holiday season, the Hamptons continues to be a sought-after destination, and our local real estate serves as a solid investment t... VIEW MOREDecember 5, 2024 As the year wraps up and we head into the holiday season, the Hamptons continues to be a sought-after destination, and our local real estate serves as a solid investment that shows enduring strength. With market trends driven by buyer preferences, interest rates, and inventory levels, here’s a brief overview of where things stand.   VIEW LESS
The Covert REport - Dog Days Letter

The Covert REport - Dog Days Letter

July 29, 2024 Summer is in full swing, and no more so than in our Hamptons office.  With over $300M in new and exclusive listings introduced to market since June 1st, and more than $200M i... VIEW MOREJuly 29, 2024 Summer is in full swing, and no more so than in our Hamptons office.  With over $300M in new and exclusive listings introduced to market since June 1st, and more than $200M in private market opportunities in our portfolio, Buyers and Sellers alike are out in full force. VIEW LESS
The Covert REport - Memorial Day Issue

The Covert REport - Memorial Day Issue

May 23, 2024 So we have been having a bit of the storm before the, well, calm?   Just as in the City we have had some really intense weather this morning, with lots of thunder, heavy rain,... VIEW MOREMay 23, 2024 So we have been having a bit of the storm before the, well, calm?   Just as in the City we have had some really intense weather this morning, with lots of thunder, heavy rain, gusty winds, and hail.  But the majority of Memorial Day Weekend looks great so it’s time to officially kick off The Season.  VIEW LESS
The Covert REport - Can you feel it?

The Covert REport - Can you feel it?

February 14, 2024 Can you feel it?  Yeah, so what if it snowed this week, there is definitely a sense on the East End that spring really is not too far off. In fact, we are closer to the M... VIEW MOREFebruary 14, 2024 Can you feel it?  Yeah, so what if it snowed this week, there is definitely a sense on the East End that spring really is not too far off. In fact, we are closer to the March equinox now than we are to this past December 21st, and the days are noticeably longer.   VIEW LESS
The Covert REport - All the Feels

The Covert REport - All the Feels

November 8, 2023
It's that time of year again where the East End transitions into the season of lights and spectacular sunsets as we edge forward into the Holidays. 

The Covert REport - August in the Hamptons

The Covert REport - August in the Hamptons

August 22, 2023 Sitting at my desk on a breezy Tuesday in August, and I am a bit baffled as to where summer has gone.  Maybe it's an El Niño thing, or maybe it's just the new pace of the H... VIEW MOREAugust 22, 2023 Sitting at my desk on a breezy Tuesday in August, and I am a bit baffled as to where summer has gone.  Maybe it's an El Niño thing, or maybe it's just the new pace of the Hamptons real estate market.  Neither has been all that sunny, but both not a total washout either. VIEW LESS
The Covert REport - REporting From The Hamptons

The Covert REport - REporting From The Hamptons

May 17, 2023 It has been quite some time since I have sent out a newsletter, and there are a lot of things to report.  Most significantly, at the end of 2022 I partnered with NYC luxury bo... VIEW MOREMay 17, 2023 It has been quite some time since I have sent out a newsletter, and there are a lot of things to report.  Most significantly, at the end of 2022 I partnered with NYC luxury boutique agency Modlin Group to open an office in the Hamptons.  VIEW LESS
The Covert REport - Waning Summer

The Covert REport - Waning Summer

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….

The Covert REport - Where's the Market?

The Covert REport - Where's the Market?

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 ru... VIEW MOREJuly 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. VIEW LESS
The Covert REport - Changes In The Air

The Covert REport - Changes In The Air

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 thing... VIEW MOREJune 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. VIEW LESS
The Covert REport - Hamptons x St. Barth

The Covert REport - Hamptons x St. Barth

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 certain... VIEW MOREMay 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. VIEW LESS
The Covert REport - March 2022 REcap

The Covert REport - March 2022 REcap

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 Shinn... VIEW MOREApril 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..." VIEW LESS
The Covert REport - February 2022 REcap

The Covert REport - February 2022 REcap

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, 20... VIEW MOREMarch 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 VIEW LESS
The Covert REport - January 2022 REcap

The Covert REport - January 2022 REcap

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 ... VIEW MOREFebruary 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. VIEW LESS
The Covert REport - Market Fatigue?

The Covert REport - Market Fatigue?

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 contin... VIEW MORENovember 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. VIEW LESS
The Covert REport

The Covert REport

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 directe... VIEW MORESeptember 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. VIEW LESS
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Contact Details

Christopher Covert

Phone
(917) 834-0635
Email
covert@modlingroup.com
Covert also brings to his real estate endeavors a solid foundation in architecture, design and construction.
Address
2405 Main Street, 2nd Floor / PO Box 255, Bridgehampton, NY 11932

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