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With Memorial Day weekend about to kick the Hamptons into high season, The Express News Group asked South Fork real estate professionals to assess the state of the market and give their outlook for the rest of year.
As summer is about to begin, what is the mood of the Hamptons home sales market?
Ashley Farrell: There has been much focus lately on the stock market and the new tariff regulations, especially as it relates to the housing market. Common belief is the steep dip in the stock market has caused buyers to press pause. While this certainly is the case for some, there’s an alternate game plan at play as well. With the volatility of the stock market, some buyers have decided to invest in real estate, a move they feel is likely more secure than stocks at this time. Overall, activity on the buy front seems steady, despite recent events.
Todd Bourgard: The mood is upbeat and optimistic. Homes are selling well, and there’s strong buyer presence across the board. We’re experiencing healthy activity throughout all the Hamptons towns.
Jane Babcook: March and April are typically the busiest months in the Hamptons real estate market. However, following the tariff announcement, the markets took a downturn, causing buyers to withdraw and many potential buyers to step back. Now, after a 90-day pause during which the markets have rebounded, buyers are seizing the opportunity to capitalize on their gains.
Dana Trotter: The overall mood in the Hamptons housing market this spring is one of cautious optimism. After several years of volatility — pandemic-driven demand spikes followed by interest rate hikes — the market has begun to stabilize. Buyers are still active, but they’re much more discerning, and many are prioritizing long-term value over urgency. Sellers, in turn, are beginning to price more realistically. Well-priced homes, especially those with updated amenities and move-in readiness, are moving — while those priced above market expectations are sitting. There’s still good demand, but it’s much more measured than a frenzied buy up.
Judi Desiderio: Well, it was a long cold winter. As always, spring has sprung, and there are green shoots all over the sales market in the Hamptons.
Robert Canberg: Super positive! Right now, the Hamptons market is experiencing a dynamic and very optimistic phase, which has been marked by some robust activity in the mid-range and an uptick within the ultra-luxury tier for the first quarter of 2025.
Ed Bruehl: As a realist and optimist, I’d say the market has been soft from the election anxiety, and economic uncertainty has buyers awaiting some calm before making one of the most significant purchases in life. That said, I’m calling it now — this summer, early savvy buyers will spark a buying spree, seizing those “sleeper” deals before others follow through as interest rates move lower into year-end.
Which hamlets or villages are seeing the most activity?
Ashley Farrell: Westhampton Beach has had a real “glow up” over the last five-plus years. Not only is it convenient for those traveling to and from the city or other parts of the tri-state area, but the village has made a conscious effort to work with developers and revamp our Main Street, welcoming new businesses, restaurants, and hotels. In the last year, the village and its outskirts have welcomed Starbucks, Seven Beach Lane (boutique hotel and restaurant), Three Ducks (hotel), Donohue’s (steak house), and the build-out process has begun for a Citarella’s market.
Todd Bourgard: We’re seeing strong momentum across every market, from Westhampton to Montauk. All of our offices are exceptionally busy, which is a great sign of market vitality.
Jane Babcook: In the first quarter of 2025, East Hampton led in sales with 63 homes sold, followed by Southampton with 43 sales, and Sag Harbor with 26 homes sold.
Dana Trotter: East Hampton Village, Bridgehampton and Montauk seem to be the most active areas. East Hampton attracts buyers seeking both prestige and proximity to the ocean. Bridgehampton remains a hotspot due to its central location and estate-quality homes. Montauk has seen renewed interest, particularly among younger buyers and second-home seekers looking for a more laid-back surf-town lifestyle. Sag Harbor is also seeing steady activity thanks to its historic charm and vibrant village scene. Areas just outside the core markets, like Springs and North Sea, are drawing interest from buyers looking for value without sacrificing location.
Judi Desiderio: For the most part, the inventory is so low that it feels like every hamlet is getting a big push in activity, but it seems the majority of the buyers want easy convenience to whatever village is within their heart.
Robert Canberg: While every part of the Hamptons offers its own unique appeal, we’re seeing especially strong momentum west of the canal, where buyers are finding compelling value across a wide range of price points throughout those various towns.
Ed Bruehl: Villages with easy access to restaurants and entertainment are buzzing — think East Hampton and Southampton. Water Mill also, with the Watermill Crossing townhouses now fully sold out, drawing over 30 new homeowners and signaling strong demand for full-service easy-living developments in nice village locations. And any quaint neighborhood within close proximity to the water — there are many, some are hidden, and they are worth knowing.
What price range has been the most active?
Ashley Farrell: The lower the price point, the more active it will be — always. It goes without saying the market for properties under $1 million is always crowded. However, the market for homes priced below $2.5 million/$3 million is quite robust as that’s about the benchmark for homes that aren’t going to require heavy renovation or extensive updates.
Todd Bourgard: The $1 million to $5 million range is the most active. Many homes in that price point are receiving multiple offers.
Jane Babcook: The Hamptons real estate market saw a 33 percent increase in closings in the first quarter of 2025 compared to the same period last year. Homes priced between $1 million and $2 million made up the largest share of transactions during this quarter, and the market for properties priced between $3 million and $5 million is also performing well.
Dana Trotter: The $1 million to $5 million range remains the most dynamic part of the market. This segment captures a wide swath of both primary and secondary homebuyers, and it aligns well with current lending environments and buyer budgets. Homes under $3 million in turnkey condition are seeing the most competition. The ultra-luxury market (above $10 million) has cooled somewhat compared to its pandemic highs, although trophy properties still trade hands — often quietly — when priced well. The higher-end market also tends to be less affected by interest rate changes and market volatility.
Judi Desiderio: You know that I rely heavily on statistics, and looking at the first-quarter report clearly the dominant market is between $1 million and $2 million.
Robert Canberg: The $1 million to $5 million range buyers are the most active.
Ed Bruehl: Value drives the market in all price ranges; sub-$2 million homes remain king and are most active. We are seeing increased interest in the $3 million to $9 million range and deals above $10 million. This is a good sign; when the high-end moves, it’s not noise; it’s a signal of growing market confidence.
Are buyers negotiating more aggressively on price or contingencies than they were a year or two ago?
Ashley Farrell: It depends — properties in A+ locations, especially those that would be considered “move-in ready,” are still seeing heavy activity and over-asking-price bidding wars. Typically, homes that tick these boxes see such demand within a few days of coming to market. Homes that are listed a bit longer — think around a month or so — may be ones where buyers are able to negotiate a bit more, whether it’s the price, down payment, or overall terms. Just this week I had a buyer manage to score a deal with only 5 percent down on contract signing, when the overwhelming standard is typically 10 percent.
Todd Bourgard: Not at all. Buyer behavior remains consistent with previous years. Inventory remains limited, and serious buyers are stepping up to make purchases with minimal negotiation.
Jane Babcook: We may not have the same inventory levels as we did in 2019, but inventory is gradually increasing, giving buyers a few more options than they had two years ago. For sellers, it’s crucial to price their properties correctly to minimize room for negotiation. On the other hand, an informed buyer, especially one working with an experienced buyer’s agent, should understand the importance of waiving their mortgage contingency and recognizing value when making an offer. It’s essential for them to submit a realistic opening offer while maintaining a balance to foster communication.
Dana Trotter: Yes, buyers today are negotiating more firmly than they were in 2021 or 2022. With interest rates still elevated and inventory slowly climbing, buyers are definitely feeling like they have more leverage. Sellers are no longer in the dominant position — they’re expected to justify their prices, particularly if a property has been on the market for more than four or five months.
Judi Desiderio: If a home is priced right, there’s usually little to no negotiations, and sometimes the price gets bid up over the asking.
Robert Canberg: No, and as long as a property is priced appropriately, it continues to move — especially given the low inventory we’re still experiencing here in the Hamptons.
Ed Bruehl: Sure — they do every year! 100 percent. And now it’s a buyers’ market, with deals driven by those pushing for steeper discounts or wanting sellers to include “bells and whistles” in the deal. As a result, savvy sellers adjust their pricing competitively, including staging and furnishings, if the buyer is clean and willing to move to a quick close. Yes, cleanliness and timing matter.
Are international buyers coming in similar numbers to recent years?
Ashley Farrell: I don’t personally see many international buyers, rather there is heavy activity from the tri-state area, with the largest focus usually from Nassau County or Manhattan. For me, overseas buyers were scarce in recent years and remain scarce in my business.
Jane Babcook: The Hamptons real estate market is expected to maintain strong interest from international buyers, particularly from Europe. However, the primary demand is driven by Manhattan buyers and influenced by factors such as high interest rates and economic conditions. Although the exact numbers for European buyers may fluctuate, the Hamptons is likely to continue attracting those with the financial means to invest in luxury properties, especially those who perceive our market as a safe asset.
Dana Trotter: International buyer activity seems to have slowed slightly in the Hamptons compared to prepandemic and early COVID-era levels. While the Hamptons have always drawn attention from European and Canadian buyers, global economic uncertainty, currency exchange rates, and shifting travel preferences have dampened activity. Domestic buyers — particularly from New York City, Connecticut, and New Jersey — continue to dominate the market.
Judi Desiderio: I would say five years ago was about the time when international buyers started to drop off. Now our leading driver in the Hamptons market is coming from New York City and points around.
Robert Canberg: Yes! Particularly with European investors. One of the key advantages my team and I bring is our direct connection to international buyers, especially through our London office. One of my team members, originally from London, maintains strong relationships with a network of high-net-worth investors from the U.K. and France. This has allowed us to effectively link serious international buyers with our listings in the Hamptons, and it’s been a tremendous asset not just there, but in New York City as well. With our team now also based in SoHo, we’ve been able to offer our clients a valuable edge — whether they’re selling a beach house in Quogue or a pied-à-terre in Tribeca.
Ed Bruehl: I get this question every year, and the answer hasn’t changed: I do not see international buyers flocking directly to the Hamptons. However, they continue to come through New York City — if it’s not someone’s pied-à-terre off Park Avenue, it’s a connection off Fifth. That’s the Hamptons’ global pipeline, and it’s as steady as ever.
Will tariffs affect home prices one way or the other?
Ashley Farrell: How the tariffs affect buyers and how said buyers decide to proceed in the real estate market will be very personal and on a case-by-case basis. However, there will likely be a blanket effect on renovations and new construction projects. Tariffs will inevitably increase the prices — at least in the short-term — for a variety of building materials.
Todd Bourgard: So far, tariffs have had no noticeable impact on home prices.
Jane Babcook: While I don’t have a crystal ball, it appears that many buyers believe the current situation is not serious enough to delay their real estate plans. However, this trend may not continue indefinitely. Up to this point, tariffs have not significantly disrupted real estate markets, but it’s important to acknowledge that they could still have an impact in the future.
Dana Trotter: Tariffs on imported building materials and fixtures could place upward pressure on construction and renovation costs, which might trickle into listing prices — especially for new builds or recently renovated properties. However, in the luxury space, where margins are wider and buyers expect high-end finishes, the actual impact on overall home prices is likely to be minimal. If inflation persists or tariffs increase further, the effect may be more noticeable in the mid-market or for buyers planning substantial renovations post-purchase.
Judi Desiderio: If you’re in the process of building a home in the Hamptons, as I am, you’re finding that materials are going up exponentially. Ultimately, that will push up the price of new homes.
Robert Canberg: Unfortunately, tariffs could have an impact on the cost of new construction if prices for materials continue to rise. It’s unrealistic to expect builders to absorb these increased costs so naturally new construction prices would follow suit. This also could have a potential ripple effect on the resale market, since costs to rebuild or replace a home remain high.
Ed Bruehl: The tariff effect has yet to be decided. However, the uncertainty surrounding the conversations has already had a very real impact on our marketplace. What becomes of these projected additional costs and how that might affect home prices is yet to be seen.
Have the new house size formula and limits enacted by East Hampton Town influenced buyer behavior?
Jane Babcook: I’ve been hearing a lot of complaints about the new GFA formula, but there doesn’t seem to be any solid evidence supporting the idea that it will lead to an economic downturn. When considering issues like whether house prices are influenced solely or primarily by increasing house sizes, or whether changes in zoning codes have severe impacts on property values, I don’t see any valid claims from buyers to back that up.
Dana Trotter: We expect the new house size limits adopted by East Hampton Town — which cap homes at 7 percent of the lot size plus 1,500 square feet — to begin influencing buyer behavior in the coming months. Buyers interested in building new homes or undertaking major expansions may start shifting their focus to other hamlets or towns without such restrictions. Developers and investors are also likely to reassess the viability of “tear-down and rebuild” opportunities. These changes may in turn increase demand for existing homes already at or over the new allowable size, while making homes that have not already been renovated or replaced less desirable under the new restrictions? It may also shift demand for properties into other areas like Southampton, where zoning remains more flexible.
Judi Desiderio: Not yet, but I’m sure it will. It seems ironic to me that at a time where the municipalities are pushing for legal ADUs and apartments within single-family homes that the choice would be to decrease size of homes even on half acre lots by 30 percent. If the idea was truly to limit the size of mega-mansions then this was not the way to do it. Reducing the size on 5 acre lots or homes over 7,000 square feet would’ve been the methodology that accomplishes the objective without punishing the average person who already feels pushed out.
Robert Canberg: Yes, and it pushed them to become even more creative in their approach.
Ed Bruehl: This is a touchy subject for anyone who lives here year-round, especially because it involves restricting people’s rights. One side feels houses are “just too big” and has been empowered to change building codes accordingly. While some buyers are leaning into the convenience of smaller, amenity-packed homes, an unsettling shift is playing out behind the scenes. East Hampton is seeing its finest craftspeople migrate west — visionary builders, curated crews. There are long-term implications here. And while they’re not yet visible on paper, you can already feel it in the soil.
Are most seasonal renters looking for the whole summer or a shorter term?
Ashley Farrell: It seems the days of whole summer rentals — Memorial Day to Labor Day — are a bit behind us. This has been the case for many years. There are a myriad of factors. For starters, some school districts in New York don’t finish the year until June 28. Additionally, June is an “iffy” month on weather. Furthermore, more people are back in the office, at least part time. So, most want to ensure the Hamptons is not only in full swing, but the weather will be welcoming. Believe it or not, there are even quite a few restaurants throughout the Hamptons that don’t open to full time, seven days per week, until July! Overall, one-month rentals (July or August) continue to be wildly popular with a number of renters also opting for July through Labor Day.
Todd Bourgard: Most renters are now seeking shorter-term rentals, typically for a single month — either July or August. Homeowners are also opting to enjoy more time in their homes themselves, which affects availability.
Jane Babcook: The old days of MD-LD rentals have certainly declined, except during COVID-19. However, many people still prefer to rent for the entire season, especially those who have relocated their pop-up businesses to the area. Higher-end renters tend to be more flexible with their scheduling and often consider the East End as only a part of their summer plans, which may include trips to Europe. Additionally, there are renters who purchased properties during the COVID-19 pandemic.
Dana Trotter: There has been a noticeable shift toward shorter-term rentals. While full-season leases are still popular among traditional Hamptons vacationers, many renters — especially younger or first-time visitors — are opting for July-only, August-only, or even two- to three-week stays. This trend is partly driven by remote work flexibility, changing travel habits, and the desire to explore multiple destinations over the summer rather than committing to one place for the entire season.
Judi Desiderio: Summer rentals did not take off by the thousands on their usual calendar, it took longer. It was a cold long winter and there was an awful lot of noise out there that was distracting. But now that the weather has warmed up, and the noise has been reduced by volume, we’re having great demand for both seasonal and July and August. I suspect there won’t be any vacant rentals when summer arrives.
Robert Canberg: This year my team and I have seen more monthly and longer-term requests, especially from our European clientele coming over here to holiday.
Ed Bruehl: Flexibility is the new luxury. Two-week rentals are the sweet spot, driven by hybrid work schedules and customers craving variety. Savvy homeowners looking to rent focus on shorter, high-impact stays with unique experiences and tailored amenities.
Are there any local spots you’re excited to revisit this summer?
Ashley Farrell: I just hit up two of them this past week — my husband and I had dinner at John Scott’s after a Thursday evening round of golf. We really do wait all year for those wings, and they never disappoint! Then, we recently had dinner at Seven Beach Lane, and it continues to be such an exciting new addition for our town. While we’re on the topic of good food, I recently tried Local down the “Ben & Jerry’s and Funcho’s alley” on Main Street in Westhampton Beach for the first time (SO behind the curve) and the grilled cheese was to die for. Can you tell I love a good meal?
Todd Bourgard: Absolutely! Cowfish, 75 Main and Bobby Van’s are always fantastic for lunch or dinner. There’s also a new gem in Hampton Bays called Amalfi that I’m really looking forward to enjoying this summer.
Jane Babcook: While my favorite spots are mainly in Sag Harbor, I always look forward to taking my boat over to Salt on Shelter Island for Sunday afternoon eats and music at the Shipwreck bar or to Claudio’s in Greenport. I also want to try some of the new restaurants, such as Namiro Sushi in Southampton, Sea Salt in Montauk, Camp Rubirosa in East Hampton, and Crazy Pizza, which is also in East Hampton!
Dana Trotter: There’s always something new — or a beloved classic — to rediscover in the Hamptons. This summer, favorites include Bell & Anchor in Noyac and Gurney’s in Montauk. Duryea’s is under new management this season, and we’re eager to see how they elevate the waterfront dining experience. As always, new farm-to-table restaurants and boutique pop-ups are expected to generate plenty of buzz, and we’re looking forward to discovering what’s fresh. Overall, it’s an exciting time to be in the Hamptons.
Judi Desiderio: Well, we just put our boat in the water and I can’t wait to hook up boats with friends on our beautiful bays and jump in.
Robert Canberg: Yes — my walk-in closet! It’s so nice to see my white pants again, along with all my shorts and short-sleeve button downs. Four seasons have their charm, but let’s be honest — nothing beats lying out and soaking up that healthy dose of vitamin D on one of our world-renowned Hampton beaches. That’s where I’m starting ... and really, what could be better than that?
Ed Bruehl: East Hampton Main Beach is a must — late-day dining is an all-time favorite. I’ll also share a new secret spot in the Cedar Point Glampground, “Sunset Pizza & Spirits,” with beer, pizza, and cliffside sunsets, making an epic Hamptons experience. And, finally, what’s a rocking Hamptons summer without one or two meals out at EHP’s Sí Sí or Sag Harbor’s Le Bilboquet, or either Sant Ambrose — all worth the hype, especially at a good table, outside with beautiful weather, immersed in the seasonal scene of “some-are’ people entertainment!”
