realestate

Hamptons New-Construction Boom: Demand for Fresh Homes Surges

Busy buyers seek turnkey Hamptons properties, driving demand for new construction.

B
uyers seeking a luxurious Hamptons home are looking for turnkey satisfaction, driving demand for new construction. According to brokers, if you're willing to make a decision quickly and don't change your mind, you can close on a property in December and have it ready by June.

    However, more extensive renovations can take significantly longer. Martha Gundersen of Douglas Elliman notes that a gut renovation can take up to 18 months to complete. For those seeking a hassle-free experience, new construction is the way to go.

    One such property is the $12.5 million seven-bedroom home at 172 Cranberry Hole Road in Amagansett. This newly built estate boasts an impressive array of amenities, including a saltwater pool, hot tub, tennis court, and outdoor kitchen.

    The demand for new construction is largely driven by families with young children who want to live a low-key, healthy lifestyle in the Hamptons. They're attracted to the area's laid-back atmosphere, proximity to beaches and farm stands, and the ease of maintenance that comes with new construction.

    Inventory is currently low, and prices are likely to rise due to increasing material costs and trade wars. As Douglas Elliman broker Thomas Cavallo notes, "Where do you think all our lumber comes from? It comes from Canada." Builders may reprice their existing inventory at higher rates, leaving buyers with limited options.

    For those looking for a get-it-while-it's-hot opportunity, the eight-bedroom, 10-bath home at 5 Widow Coopers Path in North Haven is now available. This luxurious property features a sprawling wellness center, home cinema, and resort-style heated pool, all listed for $11.99 million.

    Alternatively, buyers can opt for ultra-convenience by shopping in Westhampton Beach. The six-bedroom, eight-bath "Nordic Modern Beach Home" at 774 Dune Road boasts modern conveniences like a heated gunite pool, cabana, and chef's kitchen, all available for $8.75 million with Compass' Christopher Furchert.

New construction boom in the Hamptons, with high demand for modern homes.