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s the summer season comes to a close and autumn's cool breeze settles over the East End, the real estate market in this luxurious enclave is at a crossroads. Industry professionals are closely monitoring market trends and adjusting their strategies in response to fluctuating inflation, interest rates, and evolving buyer preferences.
A select group of top real estate brokers share their insights on the current state of the Hamptons property market.
Susan Harrison of Compass emphasizes the importance of being prepared and ready to seize opportunities as they arise. She notes that deals are being made this month and expects this trend to continue into the fall. Working with a knowledgeable broker is crucial for success in this competitive market.
Dominic Couzens of Hedgerow Exclusive highlights the increased demand for privacy in properties, making it a more significant factor than ever before. He predicts a rate cut due to the low CPI, which will positively impact every buyer at every price point.
Stacey Cohen of Saunders & Associates agrees that rates are cooling, leading to more houses coming to the market and sellers having the opportunity to sell their properties. Lower rates will continue to boost the trend of robust listings at every price point. Cohen advises buyers not to wait and to work closely with a local agent to find their dream home.
Mary Slattery of The Corcoran Group notes that interest rates will likely come down, which could stimulate buyers to move more seriously in search of a home to purchase. She emphasizes the importance of engaging with an experienced agent for best representation in the Hamptons market.
Jennifer Friedberg of Compass expects interest rates to come down, which will positively impact both buyers and sellers in the Hamptons market. While predominantly cash deals are common, lower rates will make borrowing more attractive, expanding the pool of qualified buyers and driving up demand. Friedberg advises potential luxury buyers not to wait and to work closely with a trusted buyer's agent to navigate the market confidently.
In summary, the Hamptons property market is at a crossroads as cooling inflation, fluctuating interest rates, and evolving buyer preferences create a dynamic landscape. Industry professionals are closely monitoring market trends and adjusting their strategies accordingly. Buyers are advised to be prepared, work closely with a knowledgeable broker, and focus on what is most important in their dream home. Sellers are encouraged to take advantage of the strong interest in the market and engage with an experienced agent for best representation.
