Andrew Doud 0:08

Alright everyone, it's Thursday. I am Andrew Doud. It's time for Happening in the Hamptons Podcast, our weekly breakdown of the Hamptons market, new listings and events on the East End. We are sponsored by New York Title Abstract, the Hamptons leading title insurance firm. Visit NewYorkTitle.com. We have Steve Glick, Dave Rattiner, and today Patty and Brian of the Oakley Leicht Team.

Patty Oakley 0:28

Good morning.

Andrew Doud 0:28

Good morning. Hello. Welcome and congratulations on seven years as a team. Yeah, exactly. When you're having fun. So what's what's going on in that area?

Brian Leicht 0:57

Yeah, so we've actually had a pretty busy two-week run here. Uh we recently put our exclusive 119 Breeze Lane into contract this week with a fellow colleague from Saunders. So that was that was a nice transaction setup.

Patty Oakley 1:13

And a real stellar price, I want to add.

Brian Leicht 1:15

Yeah, we got a really good price on that one. Yeah. And we recently put have an accepted offer on another village property. So things are so this just all happened recently.

Steve Glick 1:26

You're saying the past two weeks. So once July hit. Wow. What do you think that is? Just what do you think that's related to? Well, uh, you know, they're just really good real estate.

Patty Oakley 1:38

Somewhere in the Hamptons of excellent general expenses. Experience matters. Um, you know, like that you know, we've noticed just a buzz around Southampton, the village. You know, as we all know, the traffic gets a little crazy this time of the year. There's a lot of things going on, you know, families are out here, events going on, it's bringing people to the Hamptons, and the village has been popping. Restaurants are busy, you know, you do a great job. They enjoy parking.

Steve Glick 2:06

Yeah, they do a great job. It's a destination. People are coming out there and just spending the weekend walking around. It's a great village. They want to go to the destination.

Patty Oakley 2:15

I think they're seeing it as an opportunity now, being that some properties have been on the market for maybe six months or more. We see a little bit of a lag between listing and selling, that time frame has become longer, and there's opportunities out there. You know, real sellers do need to negotiate. We are negotiating on listings and and getting great prices for our sellers. Buyers feel comfortable and feel like they're paying fair prices. You know, let's face it, the days of deals are pretty much gone. Uh the lack of inventory is still helping those prices to remain fairly high and good.

Brian Leicht 2:50

Uh the market's still efficient, though. It is because it's got to be priced. It's it's clearly evident that it's still a price conscious buyer. So we have had a couple recent price reductions that have definitely spurred interest after the price reduction. So the buyers are out there.

Andrew Doud 3:07

It's not like you're getting a deal. It's like they wait for it to be priced where it should be, and then they're like, okay, I'm in. Yeah, you know.

Brian Leicht 3:12

Yeah, and I think the other thing that we should note too is the you know the ups and downs of the stock market. So I think maybe people are saying, hey, you know, let's put it into an asset, you know, tangible asset. So, you know, that could be a spur of it too, you know, the the the uptick in activity.

Patty Oakley 3:28

And there's also people coming out here who have never really experienced the Hamdons and they may be in a rental right now and and truly do love their experience here and have decided to purchase something. So, you know, we have buyers coming from all over, and you know, people still, you know, consider this one of the top destinations to come to. The beaches, you know, are always ranked high this year again, you know, Cooper's Beach.

Steve Glick 3:46

Yeah, Cooper's Beach, number one, right?

Patty Oakley 3:48

Number one. So there's there's much to be, you know, said to be here and to own here as well. So yeah.

Dave Rattiner 3:55

Well, you guys are I I really think of Southampton when I think of you guys. And what are what are some of the advantages of Southampton? Like I live in Southampton, and to me, you know, one of the biggest advantages of Southampton is that there's a lot, there's something for everybody there. It's not all just like exclusive stores you can't afford. You know, there's a lot, there's a lot of things you can do in Southampton. That to me is like the biggest appeal.

Brian Leicht 4:21

Sure. I think it's pretty diverse there. Like you said, there's great restaurants, there's great shopping, but we also have the ocean beaches, which are f fabulous. Or if you wanted to go just a little bit north, you have places you can go trail hiking or biking. Go up to the bay. You can go up to the bay. I mean, it's it's such a really diverse little area there.

Patty Oakley 4:42

Sunday farmers market, yeah, concerts in the park on Wednesdays, which is one of the sponsors. We just sponsored one. Um, the farm stands are phenomenal. And you know, speaking of the beaches, you know, the beaches are very like your village beach pass. You're not just going to one option, you have many options. And that's what I love about Southampton. The camps, you know, I brought up children here who are now young adults, and they were never bored. So I think it's a good one. Yeah, my kid, the same thing happening with my kid.

Brian Leicht 5:11

And there's no and there's great boating. Speaking of which, we have a great listing at least. Wait a minute.

Patty Oakley 5:20

We we need to talk about this great waterfront property. We just had a price reduction. It's $1,135,000 at 18 Landing Lade in Southampton. You are so close to Southampton Village Ocean Beaches, but this one in particular is a two-bedroom, two-bath house that is bulkheaded leading out to Shinnecock Bay. There is a dock there, great for paddle boarding, or just getting out to do some fishing. And it's it's great. It's in great shape. It has a newer septic system. It's uh, I think one of the best waterfront opportunities available. So we'd love to hear from you. Stop by, we'll be doing an open house this Saturday.

Steve Glick 6:00

Nice.

Dave Rattiner 6:01

It's beautiful over there, Stephen over there. Okay, really.

Steve Glick 6:04

It's a price, right? And it's a great like starter starter home, you know, in South Angela.

Patty Oakley 6:08

Yeah, a great little beach house. And there's there's so much activity going on in that neighborhood right now that there really it's a convenient location for many. It's located just outside the village in Shinnecock Hills. And from one extreme to the other, we have another great waterfront property at 1377 Meadow Lane.

Brian Leicht 6:25

Yeah, this is a beauty. we just reduced the price on this one as well, so it is absolutely compelling price at 10 million nine ninety-five. It's on the base side of Meadow Lane. Um, so you have you know magical sunsets there. We just recently, the owner just recently put a new Botox in. That's huge. So that's a big, really big plus there. So and then you have the ocean on the other side, of course. And this one's coming in. This one is a five-bedroom. Um, five, all the bedrooms are en suite, and then you have two half baths, um, second floor, beautiful, gorgeous views. Like I mentioned, sunsets over Shanecock Bay. Great. Um just a fabulous house. And at 10 at 10 million nine ninety-five, it's it's a pretty compelling price for Meadow Lane.

Andrew Doud 7:12

Yeah, considering across the street, you couldn't buy land for that price. Across the street, you know what I mean.

Patty Oakley 7:17

Yeah, and if you really want to know where this is, just you know, you Google Road D, and that's your beach SS, and you are super close. So you know, we feel that this is prime to sell at this point, and it's really just a beautiful property.

Dave Rattiner 7:30

Meadow Lane is just so you know, there's a couple of streets in the Hamptons where like they're like I'll I'll drive there specifically just as just for the drive, you know. Yeah, and Meadow Lane is it's like Meadow Lane and Further Lane are the top two, in my opinion. Yeah, so beautiful.

Andrew Doud 7:45

Absolutely. Very nice. Um, okay, so those are a couple really good listings. Steve, let's take a look at big picture.

Steve Glick 7:52

Yeah, so this past week, we're coming off a big week last week. This week was pretty steady. 22 listings went into contract. Last year, 27 listings. So we're looking at a small decrease of 19%. Two years ago was 28 listings, small decrease there of 21%. But the breakdown of the 22 transactions this week, two between 10 and 15 million, four between five and ten million, three between three and five million, four between two and three million, eight between one and two million, and one under a million. Dollar volume was up, it was eighty-seven million dollars compared to last year of 78 million. So we're increased there of 12%. And two years ago, the dollar volume was 86 million, so a really small increase of 1%, but still a good sign to see an increase in dollar volume over the past two years. 31 new listings came onto the market, so that increases the inventory by nine listings. The breakdown of 31 new listings, one over 20 million, eight between five and ten million, nine between three and five million, five between two and three million, five between one and two million, and three new listings under a million dollars. Inventory is at 1,862 total listings with 1,467 active and 395 in contract. Man, so there you go. Yeah, steady week. Um, you know, strong, steady. We've been seeing the 20s going into contract every single week, and we're seeing this increase of inventory slowly increasing with 30 plus new listings coming on every week.

Andrew Doud 9:18

What do you guys anticipate for August as we look ahead? Because that seems to be one of those months where like people are out here, you know, it's like I I don't know if that's necessarily a busy month. You would think that you know it's it's August, it's the Hamptons, but I feel like a lot of people want to enjoy their house in August, and then it kind of picks back up in the fall.

Patty Oakley 9:33

You know, I I don't know. I you know, I think it's gonna be very busy just by the buzz now. We have just been so busy, like we said earlier, that we're we're potentially gonna be listing about three to four new houses as well. So great. There you go. I think there are homeowners that are looking to potentially list and grab what's left of a busy market.

Andrew Doud 9:53

Yeah.

Patty Oakley 9:53

Until, you know, once we get into the later fall, it tends to quiet down. So if somebody wants to take advantage of that, we do recommend for people to think if they're going to start listing, list sooner than later. Everything's beautiful. Get some great pictures now of the pool and the yard, of the house outside when everything's in bloom. But I don't know, Brian. I mean, I think we're gonna be busy.

Brian Leicht 10:13

Yeah, Patty and I are pretty steady. We're pretty busy throughout. So I agree with Patty. I think it's gonna be a busy season right through August into early September. We will have a little blip, I'm sure, because like you said, Andrew, people are kind of winding their vacation down, kids are getting back to school and they jump back into their you know routine. But I think it's gonna be pretty good. That's good. That's good.

Patty Oakley 10:36

Yeah, we still have people looking for rentals. Yeah really.

Andrew Doud 10:38

Yeah, we're getting quite a bit. It's not too late, you know.

Dave Rattiner 10:41

Summer's still going on, so for what, for August or for like two weeks?

Patty Oakley 10:45

For August, two weeks in August or the whole month of August. It seems like this year people have divided up their months for sure. We've noticed a little bit of that change. You know, the more Memorial Day to Labor Day has become a little quieter. And you know, maybe people are just exploring other areas or vacationing in Europe. Uh but just as many people, let me say this, just as many people that leave one area, we always have new ones. Yeah, yeah. We have a lot of new people coming to the area, and it's just really keeping our market full, which is really nice to know and hear. That's great.

Dave Rattiner 11:20

And the town's full.

Patty Oakley 11:20

And the town, yeah.

Andrew Doud 11:22

Um busy. What do you got going on this weekend?

Dave Rattiner 11:24

All right, so we got the CME's 15th annual family fair this weekend. Uh, that's July 19th, starts at 9.30 and runs to 12:30. That's right in in Bridgehampton on the Bridgehampton Sack Arbor Turnpike. And this is like kid paradise. Like, there is just so much cool stuff to do. They have a pizza truck, they have magic, they have like Hampton Coffees there, they have all kinds of really fun things for kids to do. And I will 100% be there. I'm I've been going there every year. They have a Dylan's candy bar is gonna be set up there.

Andrew Doud 12:05

As I recall, there is also the ARF brings dogs and cats and like their mobile adoption truck, which I think is like terrible torture for parents because it's like, how do you have to tell your kid, look, nope, we cannot take that home. But it is cool to see all the puppies and kittens that are available for adoption.

Dave Rattiner 12:22

Uh that's true. That's true. They are also going to speaking of that, it's funny that you say that because at the Sagaponic General Store, which is Steve's favorite place.

Andrew Doud 12:33

Every time I drive by there, it's like a traffic jam.

Dave Rattiner 12:35

It's a complete circus there.

Andrew Doud 12:37

It's crazy.

Dave Rattiner 12:38

Apparently, the coffee's good.

Andrew Doud 12:39

Okay. You know, I like good coffee.

Dave Rattiner 12:42

And the tuna salad is good there. So what do they have going on over there? There's an adoption event there. So from three to five on Friday, July 18th, from 3 to 5. You can go there, get your coffee. Get your coffee, pick up a dog, whatever. And pick up a dog. You know, why not? Wow. Um, we also have Fridays at 5 with which Saunders sponsors at the Hampton Library in Bridgehampton. That's on Friday at 5 p.m. And you guys are gonna be there.

Brian Leicht 13:11

Yes, next Friday. Yeah, we're gonna be there on the 25th. So come on. If you want to meet us in person, yeah, come on down.

Dave Rattiner 13:18

Yeah, that's cool. Do you know who the author's gonna be?

Brian Leicht 13:21

I do not. You do not. Well, no, I can tell you who's this week. Who's this week?

Dave Rattiner 13:27

It's gonna be Chris Pavone. He's a great, great author. Okay, he's amazing. Um I think, you know, I don't really know, to be honest with you. But you know, they have food there, they have it's a beautiful reception. They have um, you know, they have rose and wine and cheese and all that stuff, and it it's in the back of the building. There's a huge setup with chairs, and then the author sits right in the center. It's a beautiful setting, really, really nice, and it's totally worth going every single Friday. Um, so you could do that. Then you have the in Watermill from 5 to 7 p.m. Uh you have the grand opening opening of Sculpt Hamptons, which is an outdoor sculpture exhibit exhibition presented by Vault Development Partners and Cavachine Gallery. So that's in Watermill this weekend, and you go there and just look at the beautiful sculptures. Very nice. Love art. Yeah, it's the middle of the watermill. There you go. Um, so and then we'd like to ask the guests their favorite restaurants to go to.

Brian Leicht 14:37

Well, um, actually, I'd like to just Oh, you want to bring up who's gonna in Southampton Village? Yeah. Um, so the Southampton Playhouse, the old movie theater, if you haven't gone, is amazing. It's awesome. They're really I'm glad you brought that up. Yeah, I'm glad you brought that up too. Unbelievable venue, and they're really doing a lot of promotional stuff for their their movie launches and stuff. They had kind of a car show event in the back parking lot. They had a couple vendors there that was really cool in launch for the F1 movie with Brad Pitt. And then this Sunday they're doing Ferrari, they're having a cars and coffee meet Sunday morning at 10 o'clock. So they're really doing a lot of cool stuff. I actually drove by there the other day. Um, it's right on Hill Street, and they had Superman hanging out in front, waving to everybody. Nice. Really? He was he was such a good Superman. He really was. I I actually thought it was was the actor himself. Um, so it was kind of cool. It's a cool place. It's a great theater.

Patty Oakley 15:37

The IMAX theater is awesome.

Dave Rattiner 15:39

People gotta know that it's a movie theater, man. Like people hear the Southampton Playhouse, they think it's like a stage theater. Yeah, you know, so it's a not-for-profit, actually. It's so nice. It's it's a it's a really comfortable seat. They got the IMAX in there. I can't decide movies. Yeah, I can't decide if I want to see.

Patty Oakley 15:56

Let's not forget that. You need your popcorn.

Dave Rattiner 15:59

It's like such a gift to have that in Southampton. I can't decide if I want to see Superman or F1 first.

Patty Oakley 16:04

I'm so glad you brought that up because that is one of the best.

Dave Rattiner 16:06

And Jurassic Park is playing there too. What's that? The new Jurassic Park is playing there too.

Andrew Doud 16:10

Yeah. How many Jurassic Parks in there? It's a different conversation.

Dave Rattiner 16:13

It was a lot.

Patty Oakley 16:14

Um our favorite restaurants. Yeah, your favorite restaurants. You know, I go back to my favorite, the Bell and Anchor. That is my favorite.

Andrew Doud 16:20

That's a big one. We get that a lot.

Patty Oakley 16:22

And I know somebody had listened to one of our podcasts. I'd be it was probably here when we were on, and they went to it because of our recommendation, and they loved it. There you go. So it's it's the one of the best places you could go to that you're gonna get consistent quality service, food, great food. It's all good.

Steve Glick 16:40

Comes up every time.

Dave Rattiner 16:40

What about in Southampton, though? What's you what about your favorite specific? Well, you know what?

Patty Oakley 16:44

I mean, if you want something on the lighter side, because you know, Brian loves his place, and and we just went there recently, so that Brian Brian goes there, I think, like we weekly.

Brian Leicht 16:51

Crispy Taco. Yeah, crispy taco. Crispy Taco.

Dave Rattiner 16:54

Not Una Mask.

Brian Leicht 16:55

Uno Mask had to be renamed. Yeah, it was used as a they renamed it? Now it's crispy taco. Oh, I didn't know that. And it's a great little place. Why do they rename it? Zip in I don't know.

Dave Rattiner 17:05

Is it the same?

Patty Oakley 17:06

Do they still have the skull and Uno Mask someplace else? Sounds it sounds like a legal thing. But crispy taco doesn't sound as what are we gonna call it?

Dave Rattiner 17:18

It's more clear on what it is.

Patty Oakley 17:20

Unounds a little more special, but I tell you, it is a special place. So just because it's crispy taco doesn't mean that it's not great. It is awesome. Yeah, everything's fresh.

Brian Leicht 17:28

I'm getting hungry. There you go. I know and the margaritas are amazing. Yeah, fresh, fresh food, it's easy. Um, no frills, kind of it's not too expensive. Not too expensive. It's probably it's top three.

Dave Rattiner 17:39

It's perfect for you, Dave.

Patty Oakley 17:40

Well, they they also have a great before six happy hour.

Brian Leicht 17:44

Yeah, nice.

Patty Oakley 17:44

And it's you know, it's we go there. Um we've we've been there with our Southampton office staff to celebrate birthdays, so it's a great little gathering place for people too. So it's awesome.

Andrew Doud 17:53

I'm big on eating before six o'clock because I want to be in bed by 9 30. Yeah, because I'm old now.

Dave Rattiner 17:58

Well, you know what's cool about that space is it always feels busy too. If there's like five people there, it feels like it's a it's a hopping place because it's not too big.

Brian Leicht 18:05

Yeah, they have that you know you get a little table there or you can sit at the bar. Yeah, it's cool. So it's great. Good recommendation, great little space. Right in Southampton Village. Christy Taco going on the list. So two good things to do in Southampton Village. I like it. Dave?

Dave Rattiner 18:21

I guess that's it. That's it. I mean, you got the they have the farmers market there every Saturday morning, right? Sunday morning. Yeah, it's just there. Beautiful. Get the breads. Get the perfect pickle there. Great. Good. That's it.

Andrew Doud 18:34

All right. I guess we'll call that a podcast, guys. Thank you so much for joining us. Thanks for having us. It was awesome. Have a great weekend, and we will see you around town in Southampton this weekend. Friday. Next Friday, Authority. Um, good, great. That's it. I'm Mandar Dow. That's what's happening in the Hamptons.