Douglas Elliman Releases Q1 2020 Hamptons Sales Report
After noticeably stronger results in the first two and a half months in the Hamptons, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March. Listing inventory fell sharply, and sales jumped year over year for the second straight quarter. The market saw the most significant listing discount in eight and a half years as sellers were more willing to travel farther to meet the buyers on price.
The Numbers: Average sales price in the Hamptons for Q1-2020 was $2,124,336 – representing a 25.5% increase over Q1-2019 average sales price ($1,692,648). Median sales price for Q1-2020 was $990,000, a 16.5% increase over Q1-2019 median sales price ($850,000).
Listing Inventory in the Hamptons was down 19.9% in Q1-2020 (1,929) vs. Q1-2019 (2,407).
Quogue Oceanfront Sold
An oceanfront home at 46 Dune Road, Quogue recently closed. Represented by Enzo Morabito of Douglas Elliman, the $9.85 million oceanfront home closed on April 15.
Sited on 2 acres, the two-story traditional commands 160 feet of ocean frontage, a heated Gunite pool, all-weather tennis court, outdoor shower and cabana kitchen.
Features inside the 7,144-square-foot, six-bedroom, six-full-and-one-half-bath home include walls of water-facing windows, an elevator, fireplace, media room, and wood floors throughout.
Michael Passaro and Daniel McKay of Elliman’s Holly Parker Team brought the buyer.
Photos courtesy Douglas Elliman.
Own a Piece of Sag Harbor History
A unique opportunity to own one of Sag Harbor Village’s most iconic buildings has come to the market. The property, at 117 Main St., was built in 1790. Known as the Peleg Latham House, in honor of the merchant who first occupied the home, it is one of two federal-style homes on Sag Harbor’s Main Street. The ground floor features 1,150± sf of prime retail space that has been leased to numerous high-end brands over the decades. The three-level, 3,162± sf Traditional is located on coveted Main Street, in the center of world-class restaurants, shops, theaters and marinas. The residential portion of the home can be accessed on Main Street or through the plush grounds on Church Street. The interior of the residence offers stunning details throughout, with exposed wood beams, seven custom brick fireplaces, and hardwood flooring. The first floor features a spacious living room, formal dining room, gourmet kitchen, butler’s pantry, laundry, and a full bath. The eat-in kitchen contains state-of-the-art appliances, double ovens, and center island. French doors lead out to a spacious brick patio, heated gunite pool, and lush manicured backyard. Stairs lead to the second floor which offers three bedrooms, an office and a full bath. The habitable third floor features two additional bedrooms, a full bath, and ample storage. Multiple permitted uses, with expansion possibilities.