A Decade Long Snapshot of The Hamptons Real Estate Market

Thanks to the Miller Samuel people and Prudential Real Estate, we have a very concise and graphic way to tell the story of Hamptons real estate since the turn of the millenium. Basically, as you can see from the graph, the number of sales as well as the average sales price marched upwards in a sustained and rather manageable fashion from 2000 to 2005. At that point the true pricing bubble (shall we call it "irrational exuberance") took hold and while the number of sales declined, the pricing skyrocketed for another two years or so, until the whole thing collapsed along  with the rest of the economy in '08. The last two years have seen very low levels of activity and declining prices which have combined to create a weak buyer's market in general, albeit with pockets of some strength. There are some indications that the market has hit bottom and is beginning to strengthen although it is a slow and tenuous rebuilding process, to be sure.

Nobu Popping Up In The Hamptons Summer 2010

It's 2007 all over again with the announcement that Nobu will be popping up in the Hamptons this summer. After landing at the Ross School three years ago, partner Richie Notar is searching for a new East Hampton location to serve up his seasonal sushi. But if you're thinking of getting a table, forget the phone unless you're a FON (Friend of Nobu). Notar says, "With all our regular customers, can you imagine trying to navigate reservations the normal way?" [GrubStreet]

The Hamptons Take The Bronze in Resort Locations.

With luxury home prices at an apparent bottom, Wall Streeters -- and others whose bonus packages have already rebounded -- are re-emerging as buyers with the chance to score bargains and return the second-home market to its former glory. For those lucky investors, Barron's has ranked the top 10 spots for vacation homes, taking into account how far prices have dropped from their peaks in each submarket. Perennial New York favorite the Hamptons came in third, with prices coming in at a median $1.5 million, 30 percent off their peak. The posh vacation spot ranked as less desirable than Maui, which took the top spot with prices down 27 percent, and Kiawah Island, S.C. (No. 2), where prices are down 21 percent. Florida favorite Palm Beach ranked seventh and Captiva/Sanibel Island ranked eighth. Palm Beach and Capitiva/Sanibel Island homes prices are down 11 and 40 percent, respectively, each to a median $3.5 million. Gasparilla Island, a favorite of actor Harrison Ford's off Florida's southwest coast, was 10th on the list. The median price is $1.8 million, down 18 percent form its peak. [Barron's via WSJ]