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Marketwatch: The Hamptons

The Market is Back: Hamptons Agents See Surge in Big Sales

Inventory remains an issue in the Hamptons, but top agents on the South Fork have experienced big sales already this year, they said.

Pricing trends remained robust, with Corcoran’s sales volume East of the canal rising by 39% year-over-year in the first quarter of 2025, the brokerage reported. Its average sales price rose 6% from the first quarter of 2024 to $3.9 million. “With inventory expanding for a fifth consecutive quarter, the stage is set for a dynamic upcoming season.” said Ernie Cervi, Regional Vice President with the brokerage.

*18 Maple Street, Montauk* | *Represented By Kyle Rosko & Marcy Braun of Elliman*

“I love that people are really starting to commit to some of the larger assets and breaking some records in certain neighborhoods,” said Kyle Rosko, an agent with the Eklund Gomes Team at Douglas Elliman. “The market is very much back.”

Low Inventory Persists
The Hamptons market for sales since January 2025 “has been interesting to say the least,” said Mary Slattery, an associate broker with the Corcoran Group.

*30 Wall Street, Southampton | Represented by Mary Slattery of Corcoran*

“It feels a bit like we are on a seesaw,” she explained. “Lots of properties have gone into contract at all price levels, including the very high end, but we are all experiencing less showings than is usual going into the spring selling market.”

In the late fourth quarter of 2024, Sotheby’s International Realty experienced a roughly 20% increase in closed transactions from that period in 2023, with prices remaining strong, said Dawn Petrillo, an agent with the brokerage.

“Although inventory has slightly increased, [it’s] still below average, which has led to heightened competition among buyers,” she said.

East Hampton Prevails
Post-pandemic, East Hampton maintains its prestige, local agents said. The area continues to benefit from its proximity to Amagansett, with the two towns contributing to each other’s growth, said James Petrie, an agent with the Petrie Team at Compass.

The average sales price in East Hampton rose 28% year-over-year to $2.8 million in the first quarter, according to Corcoran.

*68 Stony Hill Rd, Amaganset | Represented By James Petrie of Compass*

“The villages are in close proximity to each other and offer similar lifestyles,” Petrie said. “If you’re looking in East Hampton, you will most likely look in Amagansett as well and vice versa.”

Petrillo said her biggest sale of the year so far, which will be around $3 million at closing, is in East Hampton.

Unlike much of the flat landscape on the East End, this house was built into a 2-acre hillside, she said.

“The owners created a fabulous waterfall stream that ends in a lovely garden -pond and sitting area surrounded by White Pine trees, ferns and steppingstones,” Petrillo said.

The home was on the market for a while before receiving three offers in one weekend at the end of February, she noted, allowing the owner to accept one offer with a backup in place. The house was under contract in eight days. “It’s a fantastic house that was simply waiting for the right buyer to recognize its potential,” Petrillo said.

Rosko said he recently went into contract 18 Maple Street in Montauk for $18.975 million, beating his previous record at 14 Maple in 2022.

With a sold price of $13.9 million, it was the most expensive non-waterfront home ever traded in Montauk, Rosko said.“It’s an unbelievable property,” he said. “I’m very excited for the developer and just for the market in general.”

Hidden Gems to Explore
Southampton remains “the place to be” for many buyers, as is exemplified by the area’s exceptionally low inventory, Slattery said. “It offers a great little town for shopping and dining and truly incredible beaches,” Slattery said. “Southampton Village is also closer to New York City for those hard-to-commute months.”

Additionally, “Montauk Hither Hills has properties that are being developed on the ocean there that are absolutely amazing,” Rosko added.

There are still pockets of East Hampton that get overlooked, Petrie said. “Just north of the highway between East Hampton and Amagansett, there are small cul-de-sacs that offer tremendous value in terms of proximity to the villages and ocean beaches,” he explained.

*203 Two Holes Of Water Road, East Hampton | Represented By Dawn Petrillo of Sotheby’s International Realty*

East Hampton Springs is more affordable than the Village and offers a rich history, having once been home to famous artists such as Jackson Pollock and Lee Krasner, Petrillo said.

“This artistic background creates a vibrant culture,” she said. “Springs also features calm natural surroundings, providing beautiful views and access to quiet waterfronts.”

Buyers and sellers both need to be realistic about the current market, Slattery said. “Everyone wants to find a ‘great deal,’ but in my opinion, those days are long gone,” she said. “Our hope is that we can find the best deal possible for both buyer and seller.”

When choosing an agent, consider their professional history, Rosko added. “Align with representation that has tremendous experience,” he explained. “It will be invaluable.”

Enhance curb appeal in the summer with fresh landscaping, a clean pool, and inviting outdoor spaces, Petrillo advised. “List your home in late spring or early summer to attract more buyers when trees are green, flowers are blooming and pools are open,” she said.

Buyers, meanwhile, should act quickly but wisely, Petrillo added. “Popular homes sell fast,” she said, “so ensure your financing is ready and have proof of funds if you must obtain a mortgage.”