Andrew Doud 0:08

All right everyone, it is Thursday. I'm Andrew Doud. Time for our 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. Uh today we have Mr. Dave Rattiner pulling a couple different roles. He's in with Steve today, and he'll have what's happening for you this weekend. We have myself and the Oakley Light team, Patty and Brian. How are you guys? Good morning. Return guests. Good morning. Love having you on. A lot to get to. You guys have some great new listings. You're very busy, which is awesome. But let's where should we start? Let's talk about the market as a whole. What are you guys seeing? Because obviously you're running around quite a bit.

Patty Oakley 0:52

Yeah, we've been busy. You know, the start of everything blooming out here is bringing our buyers out. Uh sellers are are real listing. Uh we've recently brought in a couple of new listings. We have more coming on into the second quarter, and the activity's been really strong. You know, we had the holidays and the spring breaks, and we anticipate moving in towards the summer, a lot of sales happening, and we're seeing it already. Yeah. So we're really happy with what's going on out here in the Hamptons.

Dave Rattiner 1:21

It was such a brutal winter, man. It was so brutal. It was today. You know, I we woke up this morning, went outside, I was just like, oh, this is great. This is so wonderful. And we had an also at an awesome meeting at your listing. We got at 121 Elm. This is really nice, really, really nice house.

Brian Leicht 1:38

Yeah. So we had our office meeting there yesterday, and it was a great turnout. 121 Elm is a new house in new historic home in Southampton Village, and it really shows well. We recently had this property staged, and it really brought it to life. And it was a great meeting. It was well received, uh, a lot of positive comments from the brokers and then the agents at Saunders on how great it was done. And we're looking forward. I think coming into the spring season now is gonna bring a lot of activity to this house.

Dave Rattiner 2:15

You know, you say it's a historic home, but this thing is like brand new construction, man. Yeah, I walked out of the house. I was like, why are we calling this historic? And then you showed you showed me the window panels upstairs with the stained glass, and I was like, this is beautiful.

Brian Leicht 2:33

Well, it's historic, but it's new, so it's kind of a a little conflict there. But um, yeah, you're right. It is a brand new house from top to bottom, and uh, but it's still it still retains some of its historic elements, you know, like you mentioned the stained glass windows, the front facade, the porch, beautiful circular driveway. Those are all original elements of the house, but they kind of blended it together beautifully, and you have a really nice property in the heart of Southampton Village on Elm Street, which is which is if anybody knows what Southampton Village is, you mention Elm Street, they know what it is. Yeah, and you have a garage, and you have a pool house and a pool, and like it's everything you'd want.

Dave Rattiner 3:13

So yeah, you got in the yard, it's huge. I couldn't believe it. I was a property.

Brian Leicht 3:17

I say to people um, you know, that are asking about it look, you bring a buyer there and it's a house that they're not gonna say, Oh, I wish it had this because they got it.

Patty Oakley 3:27

And it's not a typical spec house because this was not built as a spec house, this was a custom house. Right. The builder decided they were gonna use it for their family, but they decided to stay where they're at and put this on the market. And I tell you, this is a prize. You know, if you're gonna be gonna be in the village on a beautiful piece of property, we're not talking about you know, a quarter of an acre. Um the you know, we have almost a point of an acre. Almost over a half acre. I'm totally clear. You know, your structures, you know, beautiful landscaping. We have over $250,000 worth of landscaping. You know, spat builder's not doing that on our property. So this is really something that you should come and see. There's really not too many options available in the village as well. So that's something to point out. You know, that there's you know, we're starting to see more inventory across the Hamptons, but specifically in Southampton Village, if you want to be in for the summer, this house is really an answer for you.

Andrew Doud 4:19

It's funny. I like houses that are like old and have historic charm, but this appeals to somebody like me, but also somebody that's like, I was looking for new construction because this is exactly what it feels like.

Dave Rattiner 4:29

To me, this is new construction. This is new construction, and to me. Uh talk to us about Five Knoll.

Patty Oakley 4:35

Five Knoll is a new listing of hours that we just put on, and and this is up north in Southampton Cove. And for those of you that know don't know, we're Southampton Cove.

Dave Rattiner 4:46

That's kind of like my neighborhood. Yeah, that's my neighborhood.

Patty Oakley 4:49

Uh in in right close to the bay. So you have access out to the bay through Fish Cove, and it's a five-bedroom, four and a half bath, about 3,200 square foot home on 0.57 of an acre. What's so spectacular about this is when you walk in, you you swear this is a new build. And it is. It's it's a it's not an old house, it's a 2020.

Brian Leicht 5:13

2020.

Patty Oakley 5:14

Yeah. So but it doesn't look a bit of six years of age. Right. 2020 doesn't feel like we're gonna go to being out of your body.

Dave Rattiner 5:21

Yeah, that's scary.

Patty Oakley 5:23

It's it's ready to go, beautiful pool in the backyard. This is great. What an amazing community to be a part of. You know, there's so much to offer being up there by the water. You know, you have docks there that you can apply to get a boat slip. Uh people will rent them out, and I'm sure you can find neighbors that will gladly let you use their boat slip if you cannot get one immediately. But you can store your paddle boards and your kayaks. And you know, it's about the life that you're trying to create out here. And then for those of you who really love being by the water, it's a special place to be.

Andrew Doud 5:52

Which is what I mean. Look, if you're coming out to the Hamptons, you don't have to go too far to be by the water. And this is this certainly offers that.

Patty Oakley 6:01

I just wanted to say the price name. Sorry to interrupt, but you know, I think it's a great value.

Dave Rattiner 6:05

Yeah, and you know what else that makes it a hidden gem over there is there's unbelievable waterfront restaurants over there.

Andrew Doud 6:11

Yes.

Dave Rattiner 6:11

You know, you know, like there's so many good go-to restaurants right along Noyak Road that you know, people like I I feel like people realize it. You're up there. What's your what's yours? Oh, we love Pellegrinos, it's a great place. But you know, for I'll give you an example. Like we ate at Pellegrinos because it's a great spot for the kids. And then we were took got in the car, went right down the road, and it was like, I don't know, 6 30. And it was like the most incre and I I I don't really appreciate things as often as I should. This was a mind-blowing sunset. Mind-blowing. Yeah, it was mind-blowing. I was like, this is incredible. Like, we're so lucky to be, you know, whatever. Anyway, so it's beautiful over there.

Brian Leicht 6:52

Yeah, for those two properties, also, I just want to note if you guys if any buyers are out there looking, um, we're gonna be doing open houses on both 121 Elm Street in Southampton Village and also here at 5'0 Road in Southampton Cove this weekend.

Dave Rattiner 7:09

So well, talk about so speak talk about speaking of buyers. So like if a buyer comes to you and they're like, oh, we're looking for new construction, you're not just gonna only show them your new constructions, you're gonna show them stuff that you know like in your mind is a good deal, or that you could, you know, I think a lot of people don't realize that. You you want to comment on that?

Brian Leicht 7:30

Yeah, I think there's some decent inventory on the new construction zone right now, and you know, stuff that has maybe you know been through the winter. We had a tough winter as we mentioned earlier. So some of these houses are still available and you know builders are looking to make a deal. So there's some good there's some good inventory there with new construction for sure.

Patty Oakley 7:54

We have one actually just to point out and remind every bat is 125 Laurel Valley Road that's up in Sag Harbor in a wonderful community of Northside Hills. You know, this is a great value, contemporary great value. We're putting in an Astro Turf tennis court as we speak. And it's five million four hundred and ninety-five thousand for three levels of living with five bedrooms, furnished, such a great builder, pike development. Yeah, that's it. Uh it's a steal, it's really a great value. So call your friends if you're not looking to buy on the Hamptons, but this is a good one. And it's setback, it's private, beautiful. It's quiet and peaceful. You know, not everybody's looking to be in a village, and if you're looking for a great opportunity to buy new construction and you appreciate a modern contemporary style, this is a good one. So please call us and we'll gladly get you in.

Brian Leicht 8:46

Yeah, and if just to make note again that this house is being sold fully furnished, which is really key. I mean, this is ready to go. Uh bring your toothbrush type. Ready to go. Um that's I I think that says a lot, especially if you want to be in for the summer, you want to be in for Memorial Day weekend and get your summer off to the start, it's ready to go. Is that one of the only houses in this area that has tennis?

Dave Rattiner 9:11

Is that important, the the staging of the house? Is that is that becoming more and more important? Yeah.

Brian Leicht 9:17

Absolutely, 100%. And we're seeing it more and more now, especially with the new constructions. You know, when you get into a house that's five, six, seven thousand square feet and and and bigger, it's sometimes hard to visualize where you're gonna put your furniture, how it's gonna lay out, especially with some of the new constructions now that are you know more of an open floor plan that's kind of flowing the kitchen, the dining room area, and the living room area, how that's actually gonna lay out. And sometimes it's a little hard to visualize, even for myself. Um, after all, when they see it, they sit down, when they see it, it's more easy. This is so nice, ready, um, ready to go, and this is what it would look like. So we're seeing more and more builders and homeowners, new construction vacant houses that are being staged.

Patty Oakley 10:04

Yeah, we just listed an another new property, not new but new to the market, 1041 Deerfield Road in Watermill. What a special place, right on reserve, um, so close to Bridgehampton and Southampton Village. But this is a prime example where the seller asked us, you know, what what should I do to get my house ready? And it needed a little bit of refreshing. So he hired a painter, he hired a decorator that was able to stage the main floor and the primary and the we we listed on Sunday within an hour. We had two, three calls coming in. We had an open house the other day, we had 14 agents come in. We're not seeing 14 agents at open houses. It's listed at 3,195,000. It's a four-bedroom house with a special feature of a legal accessory apartment. And again, a prime example where the comments we heard were it's so nice to see a refreshed house. I can see how the owner truly cared about putting his house to market and was able to do this. So if you're able to do it, consult with your agents and you know the agents. Yeah, I mean we'll gladly meet with you and list your house. Um, you know, we're on it. Uh so we we you know we appreciate that.

Brian Leicht 11:22

And it and we really appreciate it when when when a seller takes our advice, you know, because it really does make a difference. And like Patty mentioned, this is a really special property because it is on reserve. It has an accessory apartment, which is is rare, and it's surrounded by multi-million dollar homes. There's homes in the down the street there that are listed well over ten million dollars. So this got a lot of it.

Patty Oakley 11:48

I think too though, you know, I think sometimes a seller here thinks, okay, this is gonna cost me so much money, but in the long run, you're making that back two, threefold. Yeah. We firmly believe that's a good idea. It's hard to process that this will eat the sale price, their their sale price for sure. So just think about it that way.

Dave Rattiner 12:06

Yeah. Let me ask you something. How are you handling all these listings? So you guys use the case.

Brian Leicht 12:11

Well, we're we're a team, and that's awesome. And um, yeah, so we're we are bouncing around a lot, but we we seem to manage it well, and it takes a lot of organization and a lot of hours in our day to keep everything going.

Patty Oakley 12:26

We're enthusiastic. We're we're really committed, and I think our whether we're representing a buyer, you know, or or a seller, we're we we know what we're doing. We're so experienced to the point where I think people appreciate that. There's so many people that have gone and and you know taken their real estate courses and have gotten a license and they call themselves a real estate agent, a salesperson. But I think there's a better definition in that and redefine you know what people need.

Dave Rattiner 12:53

Well, how do you get to the answers quickly? Like, do you call New York title or do you call you know how you know Well, yeah, I mean plug into Saunders here a little bit.

Brian Leicht 13:02

You know, we have a lot of resources within Saunders itself, and we have our in-house council. So if we have any legal you know situations that arise, we have that on hand. We have New York Title on hand, which helps us with with property intel reports, which give us you know some background and information on a property before we even list it, so we know what we're listing. Um, you know, what are the setbacks? Is it on reserve? What is what does reserve mean? What does ag reserve mean? Is it owned by the town? Is it privately owned? There's so many questions, and New York Title's great with helping us with that. There are a lot of resources that that Saunters provides in-house marketing for our listings. Um admin, our administrative staff, our team in the Southampton office is just absolutely amazing. You know, we deal with other agencies that are like we'll have a purchase memo going out, and it's like, oh, well, you know, I have to do it myself, so I might get to it in a day or two. With our administrative staff, we have it within a few hours. Right. It is it is amazing the resources that we have provided, and we really appreciate that. We appreciate everything that goes into the team at Saunders.

Patty Oakley 14:20

I don't think people realize how much work goes into putting listings out and to have a firm that supports you from A to Z, including the owner brokers, Andrew and Colleen. It's an amazing place to represent and have your properties represented. So if you don't know much about Saunders, please call us and we will gladly sit down. We'll meet you at the Southampton office and let us just show you around and and show you what we do on a day-to-day basis. That might be something that somebody would be interested in doing, and we're glad to help you.

Andrew Doud 14:49

There you go.

Dave Rattiner 14:50

Definitely a hundred percent.

Andrew Doud 14:51

All right, Dave, let's move to the numbers. Filling in for Steve. Ready, go.

Dave Rattiner 14:55

All right, here we go. Over the past week, there were 30 listings that went into contract from West Hampton to Montauked compared to this same week last year. There were 23 listings that went into contract, which is a year-over-year increase of 30%. This same week in 2024, there were 25 listings that went into contract. Compared to this week, it's an increase of 20%. The breakdown of these 30 transactions are one between 10 and 15 million, five between five and ten million, eight between three and five million, six between two and three million, eight between one and two million, and two under a million. How about that? Over the past week, the dollar volume was 110 million compared to this same last compared to this same week last year, the dollar volume was 99 million, which is a year-over-year increase of 11%. This same week in 2024, the dollar volume was 122 million. Compared to this past week, it's a decrease of 10%. This past week there were 33 new listings that came onto the market with 30 listings going into contract that increases the inventory by. Can you do the math?

Andrew Doud 16:07

You do the math for me. That's why I went to broadcast communications school.

Dave Rattiner 16:10

Three listings. It's three. And then the breakdown of these 33 new listings are two over 20 million, six between five and ten, six between three and five million, six between two and three million, nine between one and two million, and four under one million. The overall inventory as of four fourteen, twenty twenty-six is one thousand six hundred and eighty-one total listings active and in contract.

Andrew Doud 16:35

There you go.

Dave Rattiner 16:36

So we say this every week, but you know, back in the day there was like five thousand listings and then COVID came, and here we are in the zone of you know, fifteen hundred, you know. It's the inventory squeeze that gets everybody.

Brian Leicht 16:49

Yeah, I I think I just I was having a conversation with with another agent yesterday about the inventory and what the Hamptons market is doing at this point. And I have to say, I have a feeling that COVID has changed the landscape of the Hamptons real estate market. And I think it's no question about it. I I don't know if there's a foreseeable future when that's gonna change to go back to the way it was. I think COVID changed changed us forever.

Dave Rattiner 17:18

We were talking about it on the podcast, you know. It's like the Hamptons is this bubble, and there's only so many of these real estate bubbles. And when I say bubble, I don't mean like a bubble that's about to burst. I mean a bubble that you live in that insulated. It's very unique because it's so desirable, very like anyone in the world that has a lot of money, and there's really only like you know, five, six, seven, eight places in the whole world that are like that, and we forget that living here.

Patty Oakley 17:44

I think you come back here and you realize my husband just happened to me. I came from Jamaica traveling, yeah, same thing. And you know, you kind of just get out. You're like, what am I doing? It is such a beautiful place, it's such a friendly place, safe, you know. The beaches are amazing. Yes, you can go all over and find beautiful beaches, but you come back to the Hamptons and the beaches are just gorgeous. And you know, I I was talking to my husband about this, you know, when we were down, we were down in Florida, and we actually even went to Hilton Head for a little bit, and we went up to the beach, and there was so many people on the beach. And what I said to him is like we you know, we take for granted maybe what we have because people travel hours and look forward for one week to be at the beach. People from Canada or from Ohio, or you know what I mean? So like I I sit back and I feel so grateful to be a part of where we are and to help people find the lifestyle they're trying to create, maybe more permanently than just a week. That's a nice thing. So it it's interesting to see, and and touching on what Brian said, you know, the number one question we get from people is so when should I list? When is the season to list? There is no season. Like list now. Right. If you're a real seller, list because if you have the proper representation along with the proper pricing, you're going to sell your house. The amount of buyers out there are are just unlimited. And that's we do have limited inventory.

Andrew Doud 19:06

We we have no matter what the season is, we have ways to market your property. You know what I mean? And so I don't think that there's a right or wrong time to list.

Patty Oakley 19:15

There used to be, you know. Right, yeah. People would pocket it into different seasons, but I mean we were selling houses in December.

Andrew Doud 19:21

Right. And I bet you those people are really happy that they have them now because the season's here. You know what I mean? The house is ready, just come out and it changes on a dime.

Dave Rattiner 19:29

You know, it's just one day you wake up and we have weather like this. And you're like, and you're like, oh yeah, that's right. We have, you know, months and months and months of just paradise.

Andrew Doud 19:37

And then it's nice to go to Florida for like a weekend in January because the beach here is cold. What do you got this weekend?

Dave Rattiner 19:42

Um, okay, so April 18th at 8 30 a.m. If you want to go for a run, they have the Katie's Courage Run. Uh, they're doing the 14th annual 5K Rain or Shine. And this is a great charity. Everybody knows the charity for Katie's Courage. We mentioned every year. Uh, it's 30 bucks for the race. So, Dowd, if you want to do a 5K, go for it.

Patty Oakley 20:03

I'm gonna be there.

Dave Rattiner 20:04

There you go. Okay, nice. You can you can get me to walk it. You can get me to walk it. You can run it. I like the pre-core these days. And then, all right, and then believe it or not, it's here April 17th. The clam bar at Napeag is open. I feel like that that's the official start of the season, is when the clam bar.

Andrew Doud 20:22

When it when businesses on the stretch are like, we're doing it.

Dave Rattiner 20:25

Businesses on the stretch are like, we should open. You know, there's people, you know. So that's exciting. So if you want to get fresh clams and you know, a bunch of really good food over there, you can go there. Um, and then what else do I have? Let's see. We like to talk about people's favorite restaurants out here. If you guys want to comment your favorite restaurant in the Hamptons.

Andrew Doud 20:44

Currently. Currently, I know they change.

Patty Oakley 20:47

I always give the same one, so let me try to think of something different.

Dave Rattiner 20:51

That's never good.

Patty Oakley 20:53

Oh, I know. But I'm not gonna steal your thunder, so go ahead and talk about no, talk about your place over by by the canal, your fish market that you like to go to.

Brian Leicht 21:06

I don't know if I want to let the secret out of the bag here. No, you know, we we've gone a couple times now to Out of the Blue, the little seafood place on the corner by the canal. Yep. Um, it's a little little place there. And if you want to just get fresh, clean seafood, fish, whatever, you can or if you wanna, you know, go on the other side and get it fried, that's great. But we've been getting just the broiled fish there, and it's clean and fresh, and it's great. It's nothing it's nothing special, you know, it's paper plates and plastic forks and knives, but it's the food is great. Oh, I love that very easy and good little spot.

Andrew Doud 21:52

I'll give you one 'cause Sarah and I are going tomorrow night in West Hampton, the patio. The owners are friends of ours. Really good food there. Um, right in downtown West Hampton Beach, the patio.

Brian Leicht 22:04

Oh.

Andrew Doud 22:04

Um, so if you're west of the canal and you're looking for some place, I love West Hampton Beach. It's a great little area. So um, how about you?

Dave Rattiner 22:12

You're my go-to with the kids is probably Pellegrino's the one I just mentioned earlier. That'd be my go-to. Um, but then we just love going to Saga Harbor.

Patty Oakley 22:21

You know what I love in Sag Harbor? I love Paige. Yeah, it's great. That the food is so consistent. I'm a big lamb person and they make they make the most amazing lamb. I'm like, but they're so friendly. The staff there that works there is really so on it that it's nice to be able to go out and not have to ask for a thing because they're on it before you even ask for it. There you go. So that's always special too. So but I love Page.

Dave Rattiner 22:41

There's so many good ones. I mean, it's really just the best. It's the best. Anyway, that's the season.

Andrew Doud 22:46

Nice going on, the Anthems. Um, all right, we'll call that a podcast today. Um thank you guys for joining us. Um open houses this weekend. I think we mentioned these earlier.

Brian Leicht 22:54

Yeah, we're gonna be doing open house. Uh we have a couple going on. So I mentioned earlier 121 Elm Street in Southampton Village. We have 5 0 Um Road in Southampton Cove and 125 Laurel Valley in North Side Hills, Sag Harbor. There you go. So wherever you want to be, Southampton, Southampton Village, Sag Harbor. We got it covered. Got it covered.

Andrew Doud 23:19

Awesome. All right, thanks for joining us. We'll have you on again. Everybody, have a great Thursday and a great weekend. I'm Anthony Dow. That's what's happening in the Hamptons.