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s summer reaches its peak in the Hamptons, top real estate brokers gathered to discuss the market's mid-year outlook. With inventory changes and buyers adjusting their strategies, industry insiders shared insights on pricing, buyer behavior, and the appeal of turnkey properties. The complex market is expected to continue its momentum, with a renewed energy as the season hits its stride.
Enzo Morabito of Douglas Elliman noted that the year started slowly due to uncertainty surrounding the current administration, but momentum has picked up. He's optimistic about the months ahead, citing the Hamptons' resilience in holding its value and activity despite broader challenges.
Angela Boyer-Stump of Sotheby's International Realty reported a stellar second half to the year, with competitive bidding situations and new listings coming onto the market. She attributes this to summer energizing buyers and mortgage rate drops making it a great time for sellers to list at market value.
Aleksandrina Penkova of The Corcoran Group highlighted the growing interest in new construction properties and the increasing inventory, which is fueling the market. She expects many serious buyers to make moves by the end of the year, with historically motivated sellers locking in deals before carrying a property through winter.
Matthew Breitenbach of Compass emphasized the Hamptons' unique appeal as a resort town, attracting buyers from across the country and globally. He notes that the market has been under the radar due to the stock market's volatility, but expects a surge in Q3 and Q4, with top agents and managers noticing rapid growth.
Joan Hegner of The Corcoran Group observed an unpredictable trend in the market, but believes inventory levels will rise, sellers will adjust prices, and a slight drop in rates will lead to increased activity. She's optimistic about the upcoming fall season, which is prime time for real estate action in Montauk.
Jake Sinacori of The Corcoran Group sees the Hamptons real estate market continuing to be fruitful in the second half of the year, driven by the finite nature of Hamptons real estate and economic circumstances.
