The Hamptons spring market finally woke up; we are seeing many transactions being executed with short closing windows around the entire region. The prolonged winter weather, which was felt well into the spring — for the most part — kept the buyer pool in sunnier climates, particularly South Florida and California.
As the Hamptons welcomes the U.S. Open Golf Championship to the Shinnecock Golf Club, June 11 to 17, excitement is in the air. The Hamptons, as host to this global event, is prepared and ready for the eyes of the world. It has been 14 years since the Open was last held there and the town is prepared for visitors from around the globe who will visit the villages to enjoy the early part of the summer season.
All indications predict that the summer selling season will be strong as we are experiencing one of the best summer rental market seasons in years. Many buying opportunities exist across the board, particularly at the high-end as sellers have adjusted their expectations with regard to pricing. In addition, there are a few remarkable values in new development projects which have been completed in the past couple of years. Overall, the cross-section of inventory in the Hamptons offers something for everyone — from the village cottage and waterfront bungalow to the oceanfront “beach house” and the mega-mansion — everyone is sure to find their dream homes. Being surrounded by water and clean natural resources, the Hamptons offers one of the best lifestyle settings and environments in the world.
Click here to view the full Corcoran East End Quarter One Report.