As the 2017 summer season kicks off, another busy year is expected for Hamptons real estate both in rentals and sales. Rentals are trending towards monthly rather than full season, while sales are already better than last year. Amagansett, Sag Harbor, Water Mill, and Bridgehampton are hot. Waterfront is in very high demand, while new construction is active. In select areas of the market, prices are rising slightly, while inventory is decreasing. Predictions are for a good year in Hamptons real estate.

As 2017 begins, an active year is anticipated for Hamptons real estate in both the rental and sales markets. The Villages of Quogue, Westhampton Beach, and Sag Harbor are hot spots, waterfront is always desirable, and new construction is in great demand. With inventory slowly shrinking, prices starting to rise, and interest rates about to creep up, a steady sales market is expected. The Hamptons continues to be a popular destination for those seeking an exciting and glamorous lifestyle.

The 2016 Hamptons real estate market started out slow and steady overall and for some realtors, picked up tremendously this summer. But with high-end sales down, prices decreasing, and inventory rising, it was a buyer’s market. Sag Harbor, Montauk, and Hampton Bays were the hottest markets. As we approach 2017, with lots of pent up demand, predictions are for a good sales year in the Hamptons. Susan Breitenbach of The Corcoran Group says, “Hamptons real estate for 2016 started a little slow with quite a lot of inventory, but picked up tremendously this summer. Prices were good, inventory was up, and so it was a very good time to buy. I had a very good year – selling $150M in just the last ninety days, including four sales over $20M. Sag Harbor and Bridgehampton were very active as was waterfront and the $1M-$5M market. There was a tremendous amount of new construction spec homes adding to the inventory, making it more of a buyer’s market.” Susan predicts, “Now that the election is over, I think things will settle and spring 2017 will be good for Hamptons real estate.”

By Ruth Thomas Many realtors agree that although the summer of 2016 got off to a slow start, the season is finishing strong as we head into fall. New construction and waterfront properties continue to be hot as are properties in the $1M-$3M price range. With prices holding steady and quite a bit of inventory available, the market is turning from a seller’s to a buyer’s market. Now with an uptick in activity, a busy fall season is anticipated. Judi Desiderio of Town & Country Real Estate says, “While the summer was seasonally quiet—the weather was so gorgeous most would rather be at the beach, on the boat or the golf course than looking at homes. Now, the fall selling season is strong in most markets and price ranges. $3M and below is the most active segment. Being within town limits—from Montauk to Westhampton—is in great demand. Prices are holding strong in most price ranges, other than the high end. Where future prices are headed will be determined by the market’s response to the election and the future moves by the Feds.” Judi observes, “All eight Town & Country offices are reporting heightened activity. Fall ordinarily is our busiest selling season.”