Hamptons Real Estate
Market Trends & Data
Southampton to Montauk, The South Fork, East of the Canal
Sngle Family Homes |Exclusives & Co/Tri-Exclusives | Source: EELI
CHARTS ARE INTERACTIVE HOVER/CLICK FOR VALUES
The Hamptons real estate market started 2023 with a seventeen and a half percent (17.5%) reduction in the supply of listings for sale compared to the end of summer 2022.
After increasing throughout the summer and fall of 2022, the supply of listings for sale declined in the fourth quarter, as it did at the end of 2021. New listings began to decline after September 2022 and some sellers withdrew from the market approaching the holiday season, further constraining supply heading into 2023.
- Overall, the supply of listings for sale increased 20% January 1 2022 year over year
- The Median Number of Sold Listings decreased 30.5% in 2022 year over year
- The Median Sold Price increased 5.04% in 2022 year over year
- The Median Days on Market decreased 20.57% in 2022 year over year
- There was 20.19% more Negotiability in 2022 year over year
- There were 64.4% fewer Contracts Signed in 2022 than 2021
- There were 17.42% fewer New Listings in 2022 than 2021
Fewer listings are selling now, on a month to month basis, than in 2019. Forget about how many fewer deals were happening in December 2022 than at the same time in 2021, the number of contracts signed was also 46% lower than the same time in 2019!
Pricing continues to trend high, but is more inline now with the end of 2020 than the end of 2021. Days on market have been climbing since August 2022 but are still historically low - 32.25% fewer days on market in December 2022 (165 days) than December 2019 (240 days).
Deal-making in the Hamptons has slowed down and negotiations are back. The Hamptons closed out December 2022 with a median 4.67% off of the list price, which is more market negotiability than the last couple of years. However, still indicative of relative pricing stability, given the trend was a median 6-8% off the listing price in the pre-Covid and improving marketplace.
Adrianna Nava, Brokerage Sales Manager, The Hamptons