Q: What kind of real estate opportunities does summer offer?
A: Summer in the Hamptons is always and perpetually a draw. No matter the year, come warmer weather, people in the greater New York metropolitan area dream about the beach and the easternmost parts of Long Island. Not only do we got a lot of renters coming out, whose mindset often shifts to a purchase or investment, but we also experience a big increase in foot traffic in general. The number of interested buyers asking to view homes goes up substantially. Everyone talks about real estate—at dinner, at parties, while strolling through the villages, or while shopping and browsing. People are just more attuned to talking about real estate in general, and houses they either want to see or have seen specifically.
Q: Which areas are attracting the most inquiries?
A: Generally speaking, and it comes as no surprise, properties that are located within the villages—from Southampton through Bridgehampton and Sag Harbor, and further out to East Hampton, Amagansett, and Montauk —are most popular. The villages offer desired amenities and access to necessities, and are all very close to the ocean beaches. Within the villages, new builds generate the most activity—that “new house smell,” as we call it.
Q: Is renting more popular than buying right now?
A: Interestingly, summer rentals have changed significantly over the last decade. While the number of individual rentals likely is high or even increasing, the duration of a typical rental has decreased dramatically. Folks used to rent the entire summer season, and now, a rental from July through Labor Day seems to be the norm among big summer rentals. We don’t rent for time periods less than two weeks, but we have also seen an uptick in inquiries for very short time periods.
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