Andrew Doud 0:08

It's Thursday, everyone. Time for our Happening the Hamptons podcast, our weekly breakdown of the Hamptons market, new listings and events on the East End. We are sponsored as always by New York Title Abstract, the Hamptons leading title insurance firm. Visit NewYorkTitle.com. We have Steve Glick, Dave Retiner, and today return guest Patty Oakley and Brian Light of the Oakley Light team. How are you guys? Good morning. Good morning, everybody. Good morning. Let's talk Southampton. I know this is your strong suit, and it happens to be one of the hottest hamlets right now, Southampton Village. Southampton Village. It's like the numbers are crazy. Let me see.

Steve Glick 0:42

Let me let me tell you what the data is real quick, and then you guys could talk about how hot Southampton Village is. So the third quarter, numbers just came out. This is the report is for the first nine months of the year, and Southampton Village was the hottest hamlet in the Hamptons. Sales transactions were up 64% from last year. Median price is up 22%, and dollar volume was up 74%. I know there were a lot of high trades. There was a handful over $20 million. The highest trade was $55 million. So that certainly skewed the dollar volume. But sales transactions is the key to look at, and that was up 64%.

Andrew Doud 1:20

Okay. And so what are you guys seeing from your business?

Brian Leicht 1:25

Well, it's kind of interesting to see these numbers because the first quarter, I guess actually the last quarter, fourth quarter of last year, and the first quarter this year were actually pretty quiet in Southampton Village. There was a lot of inventory on the market, and then all of a sudden, it's like somebody flipped the light switch and it was off to the races. There were a lot of new constructions that were sitting out there for a while that just kind of took off and went into contract. And now inventory is a most weird deficit. Yeah.

Patty Oakley 1:55

Yeah, and these some of these newer houses, I mean, they were going for full price and selling within, you know, there was one recently over White Street that just went into contract and within the first week on the market, you know, sold at full price. So there's clearly buyers out there looking to be in the village, and you know the convenience factor of everything you need is right there, and people are seeing that. And it's also I find Southampton Village is a great place to be to go to other hamlets and villages. Yeah, you're kind of in the center of it all. So it's been a big draw, and we're definitely seeing that in the numbers.

Dave Rattiner 2:30

It's a huge factor for me. I live you know, kind of at the end of Middle Line Highway there over on Braddy's path, and I feel like I live in three towns. Like I like Southampton Village is my town, Sag Harbor's my town, and Bridgehampton's my town. Like I feel like I live in all three towns because it it's ten minutes, everything's ten minutes. So that's a huge thing.

Andrew Doud 2:51

Yeah, it's been great. You're a popular guy too, Dave. You know, you get around, get to places, he knows people at restaurants, that kind of thing. Yeah, that's true. Big deal, kind of a big deal. So is your mustache? Yeah. So let's talk about 121 Elm Street. This is this is a house you really gotta get to to appreciate, I think, everything that was done with this because this is to some degree, correct me if I'm wrong, a historic home, but the way that they renovated it, it's actually a new build.

Patty Oakley 3:19

It is new. It's yeah, okay, it's spectacular.

Andrew Doud 3:22

So everything everything is new. Um, but it was built off of an existing house to some degree.

Brian Leicht 3:31

Yeah, so this is a is a historic house, so it had to pass the architectural review board and had to keep quite a bit of the front facade of the house the same. Uh the stained glass windows, the porch, that sort of thing. And then the back half of the house, I guess if you would say, is more contemporary, more modern style. Um the conveniences of today, but it is a brand new house. It's been renovated from top to bottom. Uh new basement, uh, ten-foot ceilings, eleven-foot ceilings in the basement. Um, it's just a really architecturally classic Southampton village traditional home with everything you could want in it. Yeah, two-car garage, pool, two-car garage, I mean all that stuff. Pool house, and really, really well done.

Andrew Doud 4:21

Yeah.

Patty Oakley 4:22

I think it is a custom home. It is.

Andrew Doud 4:25

Yeah. When you talk about because I think people hear like, oh, it's a historic home that was renovated. This is not what that is. This was this doesn't feel like well, this was the front house, and then you added on an addition. Not at all. This feels like when you walk in that this was a ground up build, completely because it is everything's completely new. The floors are incredible, the design on the hardwoods is fantastic, the staircase, the windows. I think it's kind of nice if they have the the stained glass windows, which is a real nod to what was there. Um, but it's you know, that's it's kind of and we're glad you brought that up.

Patty Oakley 4:59

So I have a question for you guys because you know, some of the special features of this house are one of them is the the stained glass windows, and these were replicated up in we believe it was New Hampshire, built by hand. So I have a question for you guys, and I don't know if you're gonna be able to answer this, but so you know, we see a lot of stained glass windows in these older houses, like in the houses of the 1800s. So what was the purpose of those stained glass windows? Do you guys know?

Andrew Doud 5:27

I have no idea. I thought it was R question.

Patty Oakley 5:32

It's well, it's a little bit about R, but it's really, you know, years ago in the 1800s, it signified symbolized, I should say, like wealth and status. And it was only owned by two previous two previous and and Brian, the people who owned it.

Brian Leicht 5:51

Yeah, one of them the was actually the mayor of Southampton Village. The house was originally constructed in 1855, and this was occupied by Mayor Van Brunt, who's a very familiar name. Yeah, why is it South Familiar? Street Van Brunt. Okay, there's a name Street after him. And he was instrumental in so many things back in the day. Um, two being two important things being he brought electricity into Southampton Village as well as town water into Southampton village. Those are two big things. Two big things, yeah. Yeah, that kind of that's not a big deal. Water and lights.

Patty Oakley 6:26

There's a great history, there's a great history behind this beautiful house and property. So, you know, yes, you were right, Dave, about the artistic expression. We see a lot of stained glass windows in beautiful churches, and but the these stained glass windows were, you know, I really believe it transformed the atmosphere to control the and the coloring of light coming in. And it is a really beautifully designed house as far as window goes. There's a lot of light. It's very rare. Um the front of the house does have the stained glass, and we just think that they're special, and I really wanted to bring that out because I really think that's an important feature of this property as a house, I should say, as well as the front porch. If um, if you go on to 121elmstreet.com and you can look at this listing we're speaking about, you will see the front porch is repli the railing is replicated from the original house. So it's it is special, it's charming, and you know, we invite anybody who's interested to come on by, give us a call, and we'd love to get you in. We have open houses this weekend. And there's also gonna be a New York Post ad out. So for the New York City people, take a look and you can you know chime in online and and give us a ring if you have any questions.

Andrew Doud 7:41

Nice, beautiful, just a beautiful house. Yeah, this is a great place. Yeah, um, okay, so let's also talk 125 Laurel Valley Drive. This is in Sag Harbor. Um this is a new construction, right?

Brian Leicht 7:54

Yeah, this is a brand new house. Um a very well done house. Um there's also a tennis court that is available for at the house. Um but it's beautiful, beautifully done. It's being sold fully furnished and totally different style.

Patty Oakley 8:11

Totally different style. It's a modern contemporary three-story 4,800 square foot, five-bedroom, five and a half bathhouse built by Pike Development, and they build really nice quality homes. It's set in the woods, but open enough where it's on 1.5 acres. And we reduced it quite recently to 5,495,000. Uh tons of space in there, and uh, you know, we're looking to move this property. Uh again, we'll be doing open houses, and if anybody has any questions, feel free to reach out to the Oak Lee Y team.

Andrew Doud 8:48

Yeah, this is a this is a good one. This is it it's it's not built into a hill. I'm I'm saying this wrong, but like you said, it's a three three level, right? So you kind of come in, you're walking in on the lower level, which has this amazing where you have the garage, then you have this amazing walkout with a sliding door in what would be the lower level. You go up to the first floor, and then that's where your pool is off the off the first level. It's really cool, it's really cool. Which is neat, and then you can overlook your tennis court. It's just like a very cool design. Um, not typically found, I think, out here, that kind of design characteristics given its location.

Patty Oakley 9:24

So it's a great, it's in a great community. You know, you have a lot of quiet streets there, and um, you know, to be able to bike and walk and run and do whatever you want to do there, and you're you know, a few minutes from the village, so it's really a great place to do that.

Brian Leicht 9:37

Two good ones, centrally located because you have Sarac Harbor just a few minutes away, Bridgehampton and Southampton. So it's a nice little spot there.

Andrew Doud 9:47

Um okay, let's talk big picture. Steve, what do you got as far as the numbers?

Steve Glick 9:52

Well, the numbers are a little slower this week. Um, 14 listings went into contract. And if you remember, last week we talked there were only 19. So we're starting to see like the slower season as we approach the holidays. Um, but this is normal. Last year there were 17 listings, that's a decrease of 18%. And two years ago there were 19 listings that went into contract, so it's a decrease of 26%. But the 14 transactions were four between three and five million, one between two and three million, six between one and two million, and three under a million. The dollar volume was twenty-nine million dollars. Last year was sixty-three million, decrease of fifty-four percent. And two years ago, the dollar volume was 41 million with a decrease there of 29%. But there were 21 new listings that came onto the market. So we keep seeing new inventory coming on. That increases the inventory by seven listings and the breakdown of the 21 new listings, four between five and ten million, five between three and five million, seven between two and three million, three between one and two million, and two under a million. The inventory is at 1,828 total listings with 1,390 active and 438 in contracts. So the inventory is um, we're getting a lot of new inventory coming on, which is great to see, but the in contracts for the past two weeks has been pretty slow, but I think that's just normal for this time of year. Nice. All right. Uh nothing to be.

Patty Oakley 11:17

No, it is normal. We see this every year. You know, right at right before Thanksgiving. You know, people start thinking holidays, and then it bounces back up again right after February break.

Dave Rattiner 11:26

Sounds like a good time to make start making offers then. You can start, you know, get more of a discount, maybe. We have more negotiating power.

Andrew Doud 11:40

Yeah. That's smart. Um speaking of opportunities, what opportunities are there, right? This weekend, David.

Dave Rattiner 11:49

He's a pro. He's a pro. Uh well, first of all, I'm looking at the Saunders donation drive that benefits local food pantries. It's a GoFundMe page, and we've raised $25,712. But that means we've surpassed the $50,000 goal because Andrew and Colling Saunders are gonna match that $25,000. Oh wow. So keep it going. Yeah. So 10 days left. Donate to this donation drive. This is a great thing. It's right on Hamptonsrealestate.com. Um, the link is right there. You're gonna want to do this, you know, post about it on your social media, talk to your friends about it, and the you know, the more money that that goes in, the more the more food that gets bought for people that need it. So this is a great thing. So that's number one. All right. Number two, have you ever heard of the Sunset Social Club in West Hampt Beach? Uh the Sunset Theater in West Hampt Beach, sorry.

Andrew Doud 12:48

Is that the one at the circle?

Patty Oakley 12:50

It's the old movie theater, right?

Andrew Doud 12:52

Like like right by Hampton Coffee across. So they just restored that.

Dave Rattiner 12:56

Okay, well, there's this is a cool thing. They have live music there, so you can go there this weekend from 8 p.m. to 10 p.m. Um that's there's up on the second floor, there's live music there that sets the mood, and you can have drinks, of course. Um, but this is apparently kind of a cool place in West Hampton Beach, so if you want to check that out, you should check that out. Okay. If you're over in East Hampton, there's the Thanksgiving Market, which is Saturday from 10 a.m. to 2 p.m. at the absolutely beautiful, absolutely beautiful St. Luke's Church, which is right there, right up right on Main Street. Um, and it's an absolutely beautiful church, and they have beautiful grounds, and they're gonna have farm fresh produce, baked goods, seasonal gifts, raffles, and more. Um, so you can get that special thing. If you're going to Thanksgiving, you can get that special thing for somebody special. How many times did I say special? Special thing for someone special. I think I just said special like five. All right. So, what else do I got? So we have Brian Dolzani the loner. Um you've never heard of him, but you've heard of the music of Neil Young, which is the music that he plays. He is going to be at the Stephen Talkhouse this weekend on November 22nd from 8 p.m. to 10 p.m. Neil Young is amazing. It's just like every now and then on my Instagram, I'll be scrolling and I get a Neil Young video of like the the you know the the old man, you know, that one where he does it live. Sing it for us. Always watch it.

Andrew Doud 14:26

Sing it for us.

Steve Glick 14:27

This little this little tune.

Dave Rattiner 14:30

No. I almost he almost got me to do it. You almost got me to do it. Um, and then I don't know if this is a thing. I'm supposed to know this, but there's jazz night in Sag Harbor on November 21st from 6:30 p.m. to 9 p.m. at the Masonic Temple in Sag Harbor. Have you ever been to that?

Brian Leicht 14:52

No, I have not. No.

Dave Rattiner 14:53

Well, this looks great. I mean, they got Steven Steven Sandberg on piano, Ken Fowser on tenor sacks, Pete Swanson on acoustic bass, and Claire Clace Brondel on drums. This is like a real night in Sag Harbor. This is the you know, it sounds like a lot of fun. Uh, you can view more details about it on Hamptons.com, but that's on November 21st. And, you know, I might even check that out. How do you not like live music jazz in Sag Harbor? I mean, that's like the ultimate Sag Harbor thing. So that's what's going on in the Hamptons. We always ask our guests.

Patty Oakley 15:28

You know what? I have something that's not maybe going on, but something new, um, which I have not been to, but I believe Brian was here the other night. The Red Horse Market opened up in Southampton Village, right across from the post office.

Dave Rattiner 15:38

It's like totally changed. Southampton Village. It's like the best thing ever.

Patty Oakley 15:41

Another exciting place to shop at. The salad bar.

Brian Leicht 15:45

And here's the out there. It's actually a beautiful store. And they have a lot of different stuff. And it was um, yeah, you can get hot food takeouts, you can uh, you know, all kinds of drinks and specialty foods and all kinds of stuff. So where did they move in? This was the old Schmidt's? This was the old Schmidt's, yeah. Okay, yeah, right across from the post office. Post office, yeah. Right. You know how you know what's really nice about it too is there's actually parking there. Yes, it's a huge parking lot. It's like a huge thing that you can actually have a big parking lot to get in and out of. I know that sounds kind of silly, but it's you know, in the Hamptons, you know, parking is a premium sometimes, you know.

Dave Rattiner 16:21

Yeah, it's I go there for the salad bar. They have you know how you know it's a good salad bar, and this I think is true for all salad bars, is when there's avocado on the salad bar and it's like fresh avocado. That's that's like the that's the sign. One of my friends said TV at the best salad bar. Yeah, yeah, yeah.

Andrew Doud 16:36

It's great. All right, check it out. Lunch today, then. I like it. Um good deal. Anything else? I guess that's it. That's it. All right, thanks for joining us, guys. We'll call that a podcast.

Brian Leicht 16:47

Yeah, happy Thanksgiving to everybody.

Andrew Doud 16:48

Sounds good. Enjoy your family and friends.

Patty Oakley 16:50

It's the special time of the year. We're all grateful.

Andrew Doud 16:52

That's it. And on that note, we'll call it a podcast. I'm Andrew Dowd. That's what's happening in New Hamptons. See you next week.