The Hamptons, synonymous with stylish summer living, continues to be a top choice for high-end buyers—now and all year round. Consistently driven by strong local and NYC-based demand, the Hamptons market is bustling and offers easy access to stunning ocean beaches, vibrant dining scenes, and deep-water harbors for boating enthusiasts.
Here, The Agency Hamptons‘ Managing Partner, Dana Trotter, shares her expert take on the current market, noting a surge in demand for all-season living, with buyers seeking homes that cater to both leisure and entertainment.
What specific neighborhoods in the Hamptons are attracting buyers most right now?
South of the highway is always sought after in the Hamptons with the proximity to the ocean and the beach being a huge draw for people. Village living has also gone through a resurgence out east, with the villages of Sag Harbor, Montauk, and Amagansett seeing many upgrades, a lot of development, and gentrification.
What do you think is attracting buyers to these areas?
The draw of cooler temperatures, ocean beaches and boating has always been alluring to those coming east. If you can be within walking distance to the beach, then that is even better. Village life sprung up as people loved being able to walk to town, new restaurants and bars opened, and Sag Harbor had the luxury of an excellent deep-water harbor for boating.
Amagansett has access to one of the best beaches on the East End and is walking distance to the Village, farm stands, and great restaurants and shopping, and in Montauk, you get it all! Ocean beaches, boating, shopping, restaurants, bars, and clubs. These Hampton towns have come alive in the post-pandemic era.
How have these areas evolved over the last few years since the pandemic, and what are buyers seeking in local luxury homes now?
There has been steady growth in the local community as more people discovered the convenience and flexibility of working from home during COVID. This trend continued post COVID and what were once summer beach houses have become year-round dwellings. People are placing more emphasis on their homes to do more than simply provide comfortable living quarters, they also want areas to host guests and entertain.
Is there a season to the real estate market in these areas or are buyers flocking year-round?
Seasonal fluctuations still affect the Hamptons real estate market. In the spring, the market tends towards urgency for buyers wanting to purchase a new home that they can enjoy for the summer months.
The summer is generally just busy everywhere with an influx of people in residence and a lot of activity at the beaches and in the villages. People come to enjoy the farm stands, restaurants and shopping. At the height of summer, most buyers and sellers just want to soak up the summer months and enjoy ocean and country living.
Fall sees another flutter of market activity as owners reflect on the use of their houses and buyers look to claim their own slice of paradise for the following year. By Thanksgiving, the market will have tended to quiet down again as we all take a deep breath and begin to plan for the following year.
What are some home amenities or features that you see buyers seek out right now?
People are placing much more emphasis on their homes to do more than simply provide comfortable living quarters; they also want areas to host guests and entertain. Indoor/Outdoor kitchen spaces are becoming standard, along with fire pits, home offices, pickleball courts, and in-home wellness retreats, including spas, saunas, and cold water plunges. These are just some examples of the amenities that are being requested by buyers in a market flooded with opulence.
Have you seen any increase in home buyers or renters from a certain region?
The Hamptons market has traditionally been and continues to be dominated by New York City second-home buyers. Being just two hours from one of the largest metropolitan areas in the world means the Hamptons has always enjoyed a strong NYC connection. Top that with those who are relocating from the summer heat of more southern states, like Florida and Texas, and you get the melting pot of the Hamptons real estate market.
Are there any emerging developments in these regions that you foresee buyers being drawn to?
Over the years there has tended to be a shift in buyers’ appetites to appreciate locations north of the highway rather than to continue to be drawn to the ocean. Sag Harbor village took off before COVID, and the northern shores’ development has continued with boating communities and activities flourishing and growing during COVID. This trend seems to be here to stay as these bayside markets continue to show strong development and interest from buyers.
Do you have any stats or data about the Hamptons market over the past year that are notable?
The housing shortage that fed the COVID demand boom appears to be correcting, with a 244% increase in the number of homes for sale in the market between Q1 2023 and Q1 2024, 185 homes in Q1 2023, to 637 active sales in Q1 2024.
This increase in inventory may be reflected in a correction of the market values as we saw a 200% increase in properties reducing listing prices. The total market value still appears to be firm, however, with a total value increase of about 20% from $800M in 2023 to over $1B 2024.
Is there any particular advice you have been giving buyers most often these days regarding buying a home in the Hamptons?
With over 28 years of Hamptons real estate experience, my advice to buyers in the Hamptons is always the same, conduct thorough research and seek professional guidance for your Hamptons property purchases.
By defining a clear set of goals and budget constraints and by working with knowledgeable real estate agents, we help our clients identify a suitable list of properties that we can then review together. Local knowledge is vital in our market, and utilizing our local connections can pay huge dividends to our clients.
As agents, we help buyers stay informed about market trends, regulatory changes, and other developments. Ultimately, all this information combines to enable our clients to make better, more informed investment decisions. Patience, diligence, adaptability, and local advice are often the keys to success in the Hamptons real estate market.
What are your predictions for real estate in your local region? What can we expect to see this year and into the future?
Personally, I think the spring and summer months are going to continue to be busy for The Agency Hamptons. We opened the first office in Bridgehampton in August of 2023, and in May 2024 opened our second location in East Hampton. We are just getting started and I feel like we have taken the Hamptons by storm. The buzz about us and what we are doing is keeping me fueled with enthusiasm. As some other brokerages shuttered in this market we have continued to perform, grow and expand.
In a market crowded with “big box” real estate firms, we offer a unique boutique experience tailored to clients seeking personalized attention and top-tier service. By combining our local expertise with global reach, we are ensuring that our clients receive unparalleled visibility in both local and international markets. The Agency is reshaping the real estate experience in the Hamptons, and this has positioned us as the new standout choice in this esteemed market. We truly are part of the next generation of Hamptons real estate.
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