the hamptons Archives - BARNES New York | Luxury Real Estate in New York

January 17, 2024January 16, 2024

What is the average house price in the Hamptons?

Even if you have never visited the area, you are surely well aware of the Hamptons and their place in upper class society on the east coast of America. People from all over the country and the world are familiar with the Hamptons and its preeminent spot in culture.

There is a high volume of mansions in the Hamptons and the several waterfront locations that consist of it. The mansions vary in size and style but they are all top of the line, the best of the best, and very expensive. In fact, the Hamptons is one of the most expensive regions in the country.

There are countless celebrities populating the Hamptons year round. From retired politicians to CEOs, business people, and Hollywood elite, you’re really somebody if you own a spot in the Hamptons. And while some people do in fact own their property in the area, other people only rent out summer houses, which also cost a pretty penny too.

If you are one of the lucky few who would like to buy a house in the Hamptons, you need to be aware of a few things, most importantly, the average house price in the Hamptons. Hamptons real estate isn’t always necessarily easy. The good news about the Hamptons is that you are getting a lot of great value for the money you spend. You can rest assured that you’ll invest in a very nice, cutting edge property that will be far nicer than any other home you’ve lived in.

How expensive is it to live in the Hamptons?

If you are looking to buy a home in the current housing market in the Hamptons, you need to be aware of the median property price in that region.

According to the yearly Town & Country Market Report, the average house price in the Hamptons were up 1.71% since last year. The median average price of a house in this part of the country was about $1,780,000. That is a definite increase from the years before, although the price of a home in the Hamptons varies and you can find something that is both more and less expensive.

The price of housing across the country faced a downward trend during the recent COVID-19 pandemic but that wasn’t the case for housing in the Hamptons. In fact, it was one of the few locations where the price point for most property actually went up during the epidemic. That is because there were many wealthy people from nearby New York City who wanted to escape the hectic, scary situation in the big city and moved to the Hamptons for safety and peace of mind.

What neighborhood should you live in?

One of the best things about the Hamptons is that there are several popular neighborhoods in the area and each of them are well worth your money. They don’t come cheap, of course, but they are all packed with wonderful architecture, terrific amenities, and beautiful views too.

The most popular neighborhoods in the Hamptons are Southampton, East Hampton, Montauk, and Sag Harbor. Each of them bring their own benefits and, thankfully, the home prices in each area are usually fairly similar.

What is the average price of a Hamptons single-family?

Imagine being able to visit the Hamptons during the popular, gorgeous summer months. You’d be just a few minutes away from the beach and your days would be spent in the sun while your nights would be spent around a yummy barbecue and fire pit in your backyard.

If you’re looking to spend a good amount of time in the Hamptons, buying a single-family house might be a great approach for you. 92.4% of all sales are single-family homes, showing how high the interest is in that region for a more private and spacious living environment compared to condo living closer to the city center.

You can find single-family in the Hamptons for a median sales price of $1,542,000. These will come with the great location that people desire when they move to the Hamptons. It is important to note, however, that they don’t always stay on the market for too long since demand is always high.

What is the average price of a Hamptons condo?

The average price of a condo during the last quarter of 2023 was $774,000, with prices on a downward trend from the previous year. Condos sales represented about 7.6% of all the property sales, showing a net preference for single-family housing in the area.

What is the average price of a Hamptons luxury property?

The median price of a luxury property during the last quarter of 2023 was $6,195,000 with an 18.5% decrease from the previous year. About 6.6% of all sales in the Hamptons during Q4 2023 were over $5 million dollars.

Summary

If you are living in the Hamptons, you can be proud of the fact that you’ve finally made it and reside in one of the nicest parts of the country. The area is worth it if you have the desire to live in this luxurious region with easy access to the beach and a quiet living environment. If you are serious about moving to the Hamptons, you should contact us at BARNES New York. We understand that luxury real estate can be complicated but we know the ins and outs of the industry and are ready to find a home that fits you perfectly.

November 2, 2022November 2, 2022

Where should you buy a house in the Hamptons?

The Hamptons is a grouping of towns and villages on the far eastern side of New York’s Long Island and borders the Atlantic Ocean. It is easily accessible by car or bus from the city, and travelers should expect an approximately 2-hour drive from the center of Manhattan. If you wonder where you should buy a house in the Hamptons, keep on reading!

Many people—celebrities, the wealthy, and well-to-do travelers—use the Hamptons to get away from the hustle and bustle of New York City for a while. So buy a house in the Hamptons is a very good choice. With its scenic ocean surroundings, more rural setting, and historic landscapes, it’s easy to see why. Spend enough time in the area, and you’re bound to run across someone famous.

But the Hamptons offer much more than just resorts for a short stay or extended summer get away. It, too, provides an array of condominiums and single-family homes for year-round stays.

Which area is best for me?

Depending on whether you want an ocean side getaway, an inland home with plenty of yard space, or even a modern condominium, the Hamptons have you covered. With so much open space and plenty of options available, there are so many great areas to choose from when considering buying real estate in the Hamptons.

Exactly where are the Hamptons?

The Hamptons are located in Suffolk County, which is directly east of Nassau County, the county that borders the New York City borough of Queens. As stated previously, it is accessible from New York City via a 2-hour car drive or a trip by commuter bus. For those wishing to take a train, that option is available, too. The Hamptons are just 3.5 hours away from New York City by train. At the 2020 United States census, Suffolk County listed a population of over one million spread between its cities and towns.

Which areas are best in the Hamptons?

When considering to buy a house in the Hamptons, options in Suffolk County’s cities, there is little to complain about, especially as you drift toward the Hamptons. Being in the narrow-most stretch of Long Island, the Hamptons offers plenty of housing with immediate access to water. Even the housing options that don’t come with water access still come packed with amenities like land, greenery, and cozy surroundings.

It then becomes a pick of preference. Do you want an ocean side getaway? Or do you want a tucked away escape? Then, consider exploring Southampton and East Hampton for real estate options.

Small residential houses on the seaside in the Hamptons.

What is in Southampton?

Southampton consists of many towns and hamlets and a thriving community full of food, shops, a strong community, and activities. It has a closed-off bay protecting it from the waves of the Atlantic Ocean and is the ideal place for a relaxing environment. Perhaps the most popular area of Southampton are the Hampton Bays.

What are the Hampton Bays?

The Hampton Bays are technically a hamlet, which, in New York, simply means a populated space not defined as a city or town. Think of a hamlet in the same way you would a neighborhood within a large city—a populated part of the city, but not a city by itself. Three bays border the Hampton Bays—the Great Peconic, Shinnecock, and the Tiana—meaning there is plenty of waterfront real estate to go around.

What options are there in the Hampton Bays?

As stated above, The Hampton Bays are surrounded by water, even more so when you consider the creeks and ponds that extend inland from the ocean. There is a little something for everyone here, ranging from quaint 2 bed/ 1 bath homes to extravagant 5+ bed/ 5+ bath ocean side homes. And don’t worry, the architecture in the Hampton Bays is aesthetically pleasing, and there is no wrong answer for house buying here.

The southern section of the Hampton Bays is where most of the housing is gathered. It’s also where many of the restaurants, bars, and shopping centers are located, too. Oceanside dining is Hampton Bays’ forte, and there are no shortages of options. With plenty of indoor and outdoor dining options, crafting a scenic and memorable dining experience is effortless.

Does Southampton have a downtown?

Situated a little inland from the ocean, on the tip of Agawam Lake, is a quaint downtown area for Southampton. It offers all of the necessities like schools, shops, dining, hotels, and hospitals while also offering cultural adds like an arts center, museums, parks, and sports fields.

What options are there in East Hampton?

East Hampton offers a more spread-out, suburban feel when compared to the popular Hampton Bays in Southampton. Its long coastline cuts right up to the Atlantic Ocean and offers some breathtaking scenery. There is a downtown similar to that of Southampton and, perhaps, bigger and more frequent nature parks complete with hiking trails and wildlife.

The famous Montauk Point Lighthouse in the daylight, with a view of the sea.

Where can I find more information about real estate in the Hamptons?

Options to buy a house in the Hamptons are exploding, with more and more people moving away from the city, in part because of the global pandemic and others wanting to branch away from densely-populated areas. The cities and counties surrounding New York have really blossomed—and a lot of that New York City culture is moving along with it.

Meaning that if you crave buying a home and getting that New York City lifestyle, you don’t have to look into Manhattan solely. Now, more than ever, real estate in the Hamptons is on the rise. To check out the best listings that the Hamptons offers, along with guidance and expert advice, check out BARNES New York.

July 6, 2022July 6, 2022

What is the real estate market like in the Hamptons?

Like most residential areas outside of big cities, the Hamptons have seen a tremendous influx of home buyers and residences since the beginning of the COVID-19 pandemic. People want to live outside the city more than ever while still remaining somewhat close, and the housing market reflects that.

Like most of the world, the Hamptons has a competitive housing market where buyers enter bidding wars against other buyers to land the house. Because of that, areas of the Hamptons that have been harder to sell in have suddenly become a buyer’s destination. And with some revitalizations of shopping districts and nearby downtowns, those areas have become even more desirable.

About How Many Residences Are on the Market Today?

At the time of writing, over a thousand homes were for sale or rent in the Hamptons, with listing prices ranging from approximately $400,000 on the more inland properties up to $78,000,000 for the oceanfront properties. When considered over the entire year, rental prices start at around $14,000 annually and go up from there.

The listings, as described above, are located throughout the Hamptons, from the westernmost stretch (Westhampton, Westhampton Beach, and Eastport) to the eastern tip (East Hampton, Amagansett, and Montauk).

Where is the best place to live in the Hamptons?

Of course, this leans a little on personal preference: do you like oceanfront properties more than wooded inland ones? Or do you prefer properties closer to restaurants, shops, and museums? But, with that being said, and with so many real estate options in the Hamptons, there is something that will fit within your ideals.

What is the upside to Westhampton?

Of the Hamptons, Westhampton is the closest neighborhood to New York City. By car, it is just under 1 hour and 30 minutes to Midtown Manhattan, making it the ideal location for those who would like to commute to the city frequently. Because of this, Westhampton has seen some upswing in the amount of purchases lately.

Couple that with a revitalized downtown, its proximity to the water, and it’s clear that Westhampton will continue its upward trajectory.

What is the upside to East Hampton?

Farther away from New York City is East Hampton, a quieter area in the Hamptons. For reference, by car, it is just under a 2-hour drive from Manhattan (near Central Park). It has a thriving downtown with plenty of charm and accommodations and is perfect for those wanting to experience New York without all of the crowds and business of the big city. It also has incredible views, plenty of parks with hiking trails, and long, scenic beaches.

Of course, with such features and accommodations, East Hampton real estate has seen an uptick in buyers lately and can be competitive.

How competitive is real estate in the Hamptons?

According to the Hamptons Real Estate Report by Hedges, the Hamptons real estate market has declined in terms of the number of sold listings. However, the amount of each sale had increased over the previous year, meaning that even though fewer properties were sold, the amount they sold for was higher.

The reason for the increase in sale prices can be pinpointed to two reasons. The first reason being that it costs construction companies more money to build properties due to the uptick in labor and material costs throughout the world.

The other reason also relates to construction. Again, because of the cost to build (and the material shortage), companies just can’t build new properties as frequently as they had before. And for that reason, there are fewer properties for potential buyers. That means for those that are on the market, the lack of properties make it ultra-competitive, and potential buyers often have to enter bidding wars against other buyers.

Any recommendations for property buying in the Hamptons?

Beautiful brown mansion with a driveway and a fountain.

There are many property and real estate opportunities in the Hamptons despite the decline in the number of sold listings—almost every village, town, and hamlet within the Hamptons has property for sale. It then becomes a matter of where you want to live; or where you can afford to live. For those looking to spend upwards of 10 million dollars, the oceanside properties of East Hampton, Amagansett, or Montauk would be of interest.

Those hoping to spend less than 10 million dollars but still desire an oceanside property should look to Westhampton, Westhampton Beach, Eastport, or the areas around those villages. And for those not wanting to spend a million dollars, looking at the villages and hamlets more inland would lead to desirable options.

What does the future of real estate in the Hamptons look like?

Because of the pandemic, the Hamptons has seen an influx of buyers gobbling up their real estate supply at record rates. Rates which, largely due to material shortages, construction companies and contractors haven’t been able to keep up with. As a result, not only had the Hamptons seen a decrease in the number of sales, but it had also experienced a decrease in supply.

However, with many companies leaning more on remote workers than ever before, several agencies and real estate heads are predicting a more stable and ‘normal’ market for the Hamptons in the future. To check out all the finest luxury listings available, alongside expert advice and guidance, be sure to contact BARNES New York.

September 2, 2021September 21, 2021

Why should you consider buying a dream property in the Hamptons?

By Annie Newman

Did you ever find yourself thinking about purchasing your dream home? We often hear of names of cities and areas across the United States that are synonym with beautiful beaches, sceneries, celebrity homes, luxurious manors and fancy streets. Some of the most popular places in the United States that come to mind when thinking of those dreamy places include Beverly Hills, Miami Beach, Manhattan and most definitely the Hamptons in New York State. When one thinks of expensive oceanfront homes, places like South Florida and California come to mind but make no mistake, the Hamptons can live up to the highest expectations for offering some of the most breathtaking beachfront properties that the East Coast has to offer. The Hamptons real estate market is worth exploring for your choice of a primary or second home.

Luxury properties in the Hamptons

Real estate prices in the Hamptons rank among the most expensive zip codes in the United States. Buyers can expect to find houses for sale in the Hampton Bays that range from 40 to 100 million dollars. The high value of these homes can be attributed to their proximity to Manhattan, one of the most sought out places to live in the world, and the desirable beachfront location. The Business Week magazine cites Sagaponack, Water Mill and Bridgehampton as being the first, sixth and eighth most expensive zip codes in the U.S. The southern tip of Long Island is comprised of the different neighborhoods of the Hamptons that can be accessed easily from New York City. The population of the Hamptons increases greatly during the summer as well as during many weekends throughout the year. Theatres, golf courses, and shopping in the area are considered exclusive and highly regarded. Most people in the country have heard of the Hamptons but due to its exclusive nature, many have not yet even visited the region. There are more affordable homes in the Hamptons, but it is very common to find residences there in the higher price ranges.

A favorite vacation spot for New Yorkers

Many New Yorkers who are looking to buy a second home often consider the Hamptons as a close-by and first choice peaceful escape from the big city life. It is refreshing for people who live in the densely populated metropolis to view oceanfront homes that are spacious, quiet and incomparable in size to residential properties in the Big Apple. Even with a budget for investment in the millions of dollars, homes in New York City are bound by the limited space that is available and one cannot even dream to have a home in Manhattan as large as can be found in the Hamptons. Houses for sale in Southampton are particularly desirable because they are part of the commercial center of the region. It also includes the largest communities in this part of the Long Island strip. Hard working New Yorkers who have the budget to purchase a second home in places like Florida don’t always have the luxury of time to travel often to those places. Those other locations may require a flight or longer vacations and time off to be accessible. On the other hand, the Hamptons is just a drive away for New Yorkers and they can enjoy going there even for weekends if they cannot take a lot of time off to travel to more far away vacation destinations. It is truly a great choice for people all across the New England area who are looking for a private and upscale setting for their second home.

The Hamptons are no longer known just for vacation homes

During the Covid Pandemic, many people across the United States and especially in big overcrowded cities like Manhattan started to head out temporarily to more quiet regions where they didn’t have to be concerned with densely populated buildings and big crowds. Now, many of those big city residents are starting to find a new appreciation for regions that are more livable yet still quite close to the attractions of a metropolitan area. For many New Yorkers, their second home in the Hamptons have now become their first choice of residence throughout the year. Those who appreciate luxury and a more extravagant yet quiet lifestyle flock to places like the Hamptons that have so much to offer. Some wealthy residents of places like Manhattan still find themselves investing a lot of funds into tiny condos or apartments that are highly priced solely because of their location near Wall Street or Times Square. In the Hamptons, buyers can obtain more amenities and living space in return for their investment. The prices that are high reflect more value in the actual property itself. A two bedroom apartment in Manhattan can have the same asking price as a home in the Hamptons that is many times the size. Private beaches, celebrity sighting, peaceful and less crowded streets, picturesque views, proximity to the big city for work, are all part of the reasons why the communities in the Hamptons are becoming increasingly popular. The architecture in the Hamptons is pleasant to the eye and many homes built across the country even describe themselves as being built with a ‘Hampton Style.’ That style includes natural looks, wide spaces, sunlight, color, and relaxed living styles. The Hamptons include historic and charming buildings, old farming communities as well as the most modern and up to date architecture and decor. This coastal area has some of the most stylish and grandiose homes one can find in any beachfront community in the nation. It is most likely that sales in the area post-pandemic will only increase in the near future.

BARNES New York is at your disposal to help you choose your dream property in the Hamptons due to a strong team of experts that are available to guide you in your search for your perfect residence.

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