Memorial Day Weekend Arrives

Andrew Doud 0:07

All right, everyone, it's Thursday. I'm Andrew Doud. Time for a happening in 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. Today it is myself, Dave Rattiner. Mr. Steve Steve Glick is off, and we are joined by Miss Sarah Minardi. How are you?

Sarah Minardi 0:30

Hello, good morning.

Andrew Doud 0:31

Good to have you back on. What is going on? We are it's Memorial Day weekend. Like, first of all, let's just start there. hopefully party week.

Dave Rattiner 0:40

It's been like we had the Saunders party last night. We had the thing at Wolfer the other night, and then big open house events all over the Hamptons this weekend. It's crazy.

Andrew Doud 0:50

It's just turned on. It really feels like a light switch, like clicked on. You know what I mean? It's like Monday started. I don't know if people just started coming out. I went, I was actually, we have our Hamptons.com cameras up here in the marketing office, and on like Tuesday, I walk in and it's like a live look at the beach, and it's like whatever. They're putting the the blue things up down on down in East Hampton, and then like the next day I come in and people are on the beach. You know, it was what it was Wednesday, it was beautiful, like it was a great day to be out there.

Sarah Minardi 1:17

I got a couple beach walks and it was phenomenal. The weather was like you said, it's it's as if a switch turned, and here we are somewhere time weather.

Andrew Doud 1:26

We go the week before, and then so we got Memorial Day coming up. The weekend, uh, I I hope that the weather kind of holds out. It's always a little hit and miss, but there's plenty to do.

East Hampton Comes Alive Again

Andrew Doud 1:36

Dave will obviously get to that in his his section, but for now, let's talk with Ms. Minardi about real estate. How are you? What's going on?

Sarah Minardi 1:43

Yes. Here we are. I mean, it's summer, it's summertime in the Hamptons, so I'm excited. I always look forward to this time of year. you know, the fact that we've got all four seasons is very special, and this is the place everybody wants to be. So and it's where their family wants to be, it's where their friends want to be. So, regardless of the weather, they're coming.

Andrew Doud 2:02

You're a big East Hampton person. What what is what is East Hampton? She is East Hampton.

Dave Rattiner 2:06

She likes the definition of East Hampton.

Andrew Doud 2:09

Um, grew up there, lived there, worked there like the whole nine yards, which is awesome. I felt very fortunate. What what is it about East Hampton that you like particularly this time of year?

Sarah Minardi 2:19

I love seeing the with in village, in the village, they have all the the flowers that come out on the lampposts. They've got the the doors for the stores are all open, it's all inviting, it's fun. The the beaches are starting to get open. The beach hut up at Main Beach is open for business. That is the gem secret place to go. Coffee, lobster rolls, you name it.

Dave Rattiner 2:44

It's overwhelming. I know. It's it's overwhelming. It's overwhelming how beautiful it is. You're an East Hampton guy. I grew up in East Hampton. Yeah, yeah. I'm a Southampton guy now. I know. I was just thinking to myself, I was like Sarah Minardi, and then I was like, what was her maiden name in high school? And I couldn't remember. I know you as Minardi. That's what Brooks. That's right. That's so funny.

East Hampton Votes For A New Pool

Sarah Minardi 3:05

Yes, yes, very exciting too in East Hampton. Is the other day we had the school board budget votes and bond votes. So the East Hampton community overwhelmingly passed that we're going to be building a pool at the high school and a field house and the pools for community use. Once it gets up and running, there's going to be separate locker rooms and all sorts of other capital and like an indoor pool. An indoor pool. A full-on. This is going to be a full-on, beautiful pool that's going to be for both school and community use, and it's going to revolutionize our area. So very exciting about that.

Andrew Doud 3:43

How would that work? If you're like an East Hamden resident, you just pay like a like a subscription.

Sarah Minardi 3:49

There's going to be, we're, we're going to be figuring that all out. But what's nice is that there's going to be a separate community entrance and then a school entrance.

Andrew Doud 3:57

That's amazing.

Sarah Minardi 3:58

So it's and another thing they'll they'll offer is there'll be a CTE program for pool maintenance. So that's another, you know, another thing that we'll have offered for kids to take. We've already got automotive, we've got nursing, we've got the culinary, and they're gonna add that. So a lot of a lot of amazing, wonderful future endeavors for the East Tampa.

Dave Rattiner 4:21

And it's so good for the kids, man. Like it's very it's just like the best thing. Like uh, I forget whose daughter is a swimmer around here, but it's it's Jennifer Robertson, her daughter, Olivia. That's right, big swimmer. She's always talking about it. It just seems like such a good thing.

Sarah Minardi 4:35

You know, they're getting it's it's we live we live in a waterfront community, children, and everyone needs to know how to swim.

Rental Demand Jumps With More Supply

Dave Rattiner 4:43

So yeah, oh yeah. So talk about us about the rental market. So we keep hearing the rental market is going bananas.

Sarah Minardi 4:51

So the rental market is definitely up from last year. I think the numbers by the end of April were that it was up 25% from 2025, which is phenomenal. I mean, the what my my storyline is so many people bought during COVID, and those people who are now homeowners, they could have been renters for many, many years, but they are homeowners, and they are making their homes available for rent too. So there is a lot of inventory and a lot of different time frames available for people to rent. So even though our rental market is up, there's still a lot of opportunity for people to come out here, whether it's for two weeks, one month, whatever the case may be.

Dave Rattiner 5:29

Nice.

Andrew Doud 5:30

So it's not too late.

Dave Rattiner 5:32

You have a couple of rentals that just came on. You wanted to mention that. I do.

The Hedges Inn Concierge Rental

Sarah Minardi 5:35

So I have a couple really interesting rentals that have not been either not been available in a long time or only just became available. The first one, which I'm very excited about, is the residence for the Hedges Inn. So the Hedges Inn, which is in East Hampton, one of six inns in the village, is reopening. They just did a huge renovation. I'm actually going to their soft opening party today during the afternoon, which will be fun to see the renovations that they did there. That they have a house right next door, which is known as the residence for the hedges. The address is five Hook Pond Lane. It's four bedrooms, all ensuite, beautiful custom cottage.

Dave Rattiner 6:19

Oh, that's cool.

Sarah Minardi 6:20

And what comes with it, you can rent it for July, you can rent it for August through Labor Day, you could do it for July through Labor Day. And what you get is all the concierge services associated with the hedges in. So you want to have, you want to order takeout from Swifties, you want to have a setup at the beach, and you want to ride to the beach, main beach, whatever the case may be. You also would get house housekeeping house housekeeping services twice a day, and it's all inclusive. So that's available for July at $125,000, August through Labor Day at $125,000, and everything is included.

Dave Rattiner 6:57

What does that mean? Like food's included too?

Sarah Minardi 6:59

Not the food, too. Oh, okay. You gotta bring your toothbrush, you gotta bring your clothes and your toothbrush, you gotta pay for it. You gotta pay for food. But all the all the utilities and services plus all the concierge services of the hedges in are included in that price. So it's a very unique offering.

Andrew Doud 7:14

That place is like iconic. It's beautiful. You come to the village, like the first thing you see when you make it. So it's right at the head of the pond. That's it.

Dave Rattiner 7:20

It makes things so much easier, too. if you're renting. Oh, that's awesome.

Sarah Minardi 7:23

I know.

Dave Rattiner 7:24

So what what's the other one?

Montauk Ocean Views And Beach Access

Dave Rattiner 7:25

Yeah, we're gonna be.

Sarah Minardi 7:25

So the other one is at the end in Montauk, at the end, this is a home that I've had rented for many, many years to SoulCycle. SoulCycle is not continuing their lease at the movie at Montauk, where they had been for many years. And this is a four-bedroom, three and a half bath, upside-down home that's able to take advantage of the ocean views in Montauk, very close to the village. The owner is open to a corporate rental, you know, a single-family residence, whatever the case may be. You've got an outdoor shower, and you're in part of the Hither Hills community, which means that you have this direct beach access over Old Montauk Highway to the ocean. So you can park there, you can walk there. It's all about convenience and easy, fun vacation in Montauk because Montauk is all about fun and vacations.

Andrew Doud 8:17

And convenience. You're on vacation, you want convenience.

Sarah Minardi 8:21

Exactly. And Montauk is a is a you know, it's a destination. People, if you are in Montauk similar to Shelter Island, you make a commitment. Yes, you do. You are there, and you leave there.

Andrew Doud 8:31

No, and you really that is where you are vacation.

Sarah Minardi 8:33

You don't need to leave. You don't need to leave.

Andrew Doud 8:35

That's fine, yeah, exactly.

Sarah Minardi 8:36

It's got the restaurants, it's got the shops, got the fun places, the beaches.

Dave Rattiner 8:40

It's a good thing for kids, the fishing that the theory everywhere you look, you see the water.

Sarah Minardi 8:44

It's it's a very unique place. And so wild moment. So that is that's 104 Bryan Road, and that's available for July through Labor Day. It could even be available for June and for a variety of prices. So if anybody has a question, they can let me know.

Dave Rattiner 8:59

Great. Wow. So you got some rentals. So there's still some out there. There is still some out there.

Andrew Doud 9:03

Reach out to Sarah, it's not too late.

Weekly Contracts New Listings Inventory

Andrew Doud 9:06

Um, all right, I'm gonna fill in for Steve today with our big picture numbers on the real estate sales side of things. Let me just prop up our list here. Okay, Hampton's real estate market data, the week of 512, 2026. Over the past week, there were 22 listings that went in the contract from West Hampton to Montauk. Compared to the same week last year in 25, there were 19 listings that went into contract, which is a year-over-year increase of 16 percent. The same week in 24, there were 39 listings that went in the contract. Compared to this week, it's a decrease of 44 percent. The breakdown of these 22 transactions, a three between five and ten million, a three between three and five million, a four between two and three, and twelve between one and two million. Obviously, that's kind of the sweet spot, right? Over the past week, the dollar volume was sixty-one million dollars compared to this same week last year in 25, the dollar volume was 107 million, which is a year-over-year decrease of 43 percent. The same week in 24, the dollar volume was 168 million compared to this past week. It's a decrease of 64 percent. Uh-huh. This past week there were 34 new listings coming onto the market with 22 listings going in the contract. Inventory increased by 12 listings. That's great to see. Uh-huh. The breakdown of these 34 new listings, two over 20 million, two between 10 and 15, 4 between 5 and 10, 7 between 3 and 5, 6 between 2 and 3, and 11 between 1 and 2 million dollars, and 2 under a million. So those are still out there, kind of like the unicorns anymore. the overall inventory as of 519, 1,758 total listings, active and in contract, 1,392 active listings, 366 in contract listings.

Dave Rattiner 11:03

What does it all mean?

Andrew Doud 11:04

What does it all mean?

Dave Rattiner 11:06

Well, the thing that is really standing out in my mind, Sarah, is that for the the first quarter numbers came out and medium prices up significantly, but sales transactions are down significantly. And it's kind of like everyone knows that story, but we haven't really seen it in the hard numbers. But I'm just looking at the Q1 report here that we're releasing in the next couple of days, and sales transactions overall are down 34%, and the median price is up 22%, and the dollar volume is down for 9%. That's for all of the Hamptons, and that's comparing Q1 of 2025 versus Q1 2026.

Sarah Minardi 11:43

Inventory. I mean, it all it all comes down to inventory and what's what's available and what people are looking for. If someone's looking for a particular street or a particular area, a layout, they want to put a primary bedroom on the first floor, they want whatever the case may be, a pool, they want a they need a garage because they're going to store a car out here. It it all plays into it. Everybody's got such a unique, unique situation about what they're looking for because in the end, the Hamptons all is all about wanting, not a need. During COVID, it was a need. They needed to get out of the city, they wanted to be people wanted to be out here, they wanted space. It's a want. It's a want. And a lot of people do want it, but they're not going to they're not going to compromise. They're not going to compromise.

Andrew Doud 12:36

Especially if you're looking at a specific area, a specific type of house, new construction, newly renovated, whatever the case may be. I think I think location and amenities dictates everything more than you know anything else. look at the value.

Sarah Minardi 12:49

And future value. They want to know too that there's going to be future value. God forbid they had to sell one day, whatever the case may be. Can they, you know, add that addition? Can they do a finished lower level? What what are what are the future value elements?

Andrew Doud 13:04

Any savvy buyer is gonna look at it and go, well, what am I getting today? What can I put into it? And you know, they're not just like they they want it, right? And they're gonna they're gonna they're willing to pay for that, but at the same time, it's like if you can make money in five or ten years, like why why wouldn't you factor that into the equation?

Q1 Data Prices Up Sales Down

Andrew Doud 13:22

all right. So as we said, it is Memorial Day. Yeah. What do you got this weekend? This should be like non-stop, everybody's doing everything.

Dave Rattiner 13:30

Well, first off, I want to highlight a friend of mine, John Shapiro, he opened Babe's restaurant in Sag Harbor.

Sarah Minardi 13:38

Oh exciting. Oh, John.

Dave Rattiner 13:41

It's like a little diner. Okay. It's the crazy, it's the where is it located? It's located off of, I think right off of Division Street, I want to say. It's in that spot, it's in that tough spot where there was like that hot dog. No, no, no, like where that hot dog place used to be. You know, on the right hand side.

Sarah Minardi 13:57

Jack's coffee.

Dave Rattiner 13:58

Yeah, exactly. And it's there's been a lot of turnover, and right now just past Cavaniola's. So right now it's doubles, which is an Am Ganset, which is unbelievable food. And then it's Babe's, and I had lunch there the other day, and it's incredible. I mean, it was so good. And there's a real vibe in there, it's got that like Bob Marley vibe, like that chill vibe, and it's small, so when you go to sit down, if there's just like two other people in there, you feel like it's like you're in this like really happening place.

Andrew Doud 14:24

You're making making new friends. Yeah, I guess you pull up a seat next to a stranger.

Dave Rattiner 14:27

No, it's a really cool place. I highly recommend it. I'm definitely going to be back there for sure. and then, but in terms of some cool events going on, Colin Quinn is gonna be performing May 23rd at 8 p.m. at the West Hampton Beach Performing Arts Center on 76 Main Street. We've seen him, I saw him live like two years ago. He's kind of become like a Hampton staple. He's been doing this.

Andrew Doud 14:49

Yeah, he's done this a couple times.

Dave Rattiner 14:50

Yeah, yeah.

Sarah Minardi 14:51

But he's so shout out to Ellen Ashenfarb.

Dave Rattiner 14:53

Yeah. That's right. He is so, so funny. and then let's see, I'm gonna throw this in there. There's a Springs Farmers Market. You gotta give them, you gotta give them the the credit where credit is due. If you want to get some cool artsy items at the Springs Farmers Market, you go to Ashville Hall every Saturday, basically for the rest of the summer from 9 to 1 p.m. So that's starting up this weekend. and then if you want to go out to Montauk after you look at Sarah's listing, her rental listing, you can go and check out Navy Beach, which is an incredible, incredible restaurant right on the water, beautiful sunsets, and they are now doing live music for the rest of the summer, starting at 6 and running until like 9 until until the restaurant closes, pretty much. But I think they're the the DJ set is gonna be from 6 to 9. so you can go there, sit out on the on the on the on the beach or inside the restaurant, and DJ Spin Diesel is the guy that's gonna that you're gonna want to see spin diesel. And then if you if you're feeling you know fancy and educated and you know well read, you can get free tours of the legendary John Steinbeck's SAG Harbor House. That's happening on Saturday and Sunday from 10 a.m. to 4 p.m. And you can tour the Nobel Prize winning author. John Steinbeck, and the home is on 1.8 acres of waterfront property, and the house is you know, very modest house, kind of cool to see you know all the works of John Steinbeck. I mean, he's like the man you for you forget the legends that come out of Sag Harbor, the authors that come out of Sag Harbor. So we usually like to ask what what what restaurants do you recommend for the weekend, Sarah?

Sarah Minardi 16:37

Ooh. Well, I live in East Hampton Village and I like to walk wherever I

Weekend Events Worth Leaving The House

Sarah Minardi 16:42

can. So I'm a big fan of Kumiso, which is a sushi ramen place right in the village. It's it's terrific.

Dave Rattiner 16:51

Man, you're a big fan of that, huh? I love Kumiso. Kumiso. Man, I gotta go in there.

Sarah Minardi 16:55

K-U-M-I-S-O. and usually you can get a table right away. I'm not sure when it's opening, but there's going to be Lion's Nook will be opening, which is the same owner as the Springs Tavern, and they're taking over the old rowdy hall space in the village.

Dave Rattiner 17:13

No way.

Sarah Minardi 17:13

Mm-hmm.

Dave Rattiner 17:14

Oh, wow, that's exciting.

Sarah Minardi 17:15

I guess David Lion Routiner. That's good. So Lion's Nook.

Dave Rattiner 17:18

That's right.

Sarah Minardi 17:19

So that's um, I don't know when they opened, so that might be premature. But um, love walking to Fresno, you know, those kind of places.

Dave Rattiner 17:28

Hey man, these are all like premium spots. Everyone should listen to Sarah. She knows. She does know. She really is.

Sarah Minardi 17:34

And also I'm a big fan of the Hampton Chutney, so shout out to the Hampton Chutney for breakfast, lunch, and dinner.

Andrew Doud 17:40

Do you know what I had for the first time this week? And you're gonna be like, you've worked here for nine years, Andrew, and this is the first time you've had. No, no, no.

Dave Rattiner 17:49

Yeah.

Andrew Doud 17:50

But but probably on par with that.

Dave Rattiner 17:52

What?

Andrew Doud 17:53

I went to Round Swamp.

Dave Rattiner 17:55

What?

Sarah Minardi 17:55

You've never been to Round Swamp?

Andrew Doud 17:57

This is good.

Sarah Minardi 17:58

Did you get the Mexican dip? What did you get?

Andrew Doud 18:00

No, no, no. It really isn't the muffins. I got no. I got chicken Caesar wrap.

Dave Rattiner 18:07

Oh, that's good. Like everything's on an extra right around the corner.

Sarah Minardi 18:11

It's it's very it's wonderful that Round Swamp has the outpost here in Bridgehampton.

Dave Rattiner 18:15

I was like, That's great. Oh now I understand this is why everybody's like it was great. Yeah, it's weird. It's weird food cooking. I know, it is weird. Great vibe. Like it was like I was like, okay, it is weird when you eat it and you're like, oh man, it is good. Damn it. I was you don't want it to be.

Andrew Doud 18:32

I was really frustrated that I enjoyed it so much. I was like, great.

Dave Rattiner 18:36

I totally know what you mean.

Sarah Minardi 18:37

Another thing that is I know well the wonder thing wonderful thing about it, it's it's family-owned and operated for generations. They grow, they do everything. I mean, that if you could ever see their greenhouses and their their their their units between it's between Three Mall Harbor Road and Springs Fireplace Road, it's massive. I know, I know where they produce everything. And they produce it.

Dave Rattiner 19:03

And like literally nothing is from the outside. Like everything is packaged.

Andrew Doud 19:09

So here's the other thing, too. I mean, they packaged their own things. It was it was 20 bucks or whatever plus tax, which sounds like a lot. It it probably is, but out here it is what it is.

Dave Rattiner 19:19

Yeah, I pay them 20 bucks for a pretty lousy sandwich. I'm not gonna do it.

Andrew Doud 19:23

20 bucks and it was the other day full, delicious, chicken salad. I mean, it was it was great. It was great, and I was like, okay.

Dave Rattiner 19:32

I get it. I know.

Andrew Doud 19:33

So now I know. I'm probably people are probably listening to this going, is he serious? Like, of course, right? So, all right, I get it. I'm on board.

Dave Rattiner 19:42

It's like it's like you know how like there's like the the there's like luxury items, and people say, Oh, why would you pay so much more for something like that, like a handbag or something? Like, and I and you know, you don't get it, but like with that, you

Restaurant Picks And Round Swamp Firsts

Dave Rattiner 19:53

get you're like, oh, all right, I get it's better.

Sarah Minardi 19:55

I might have to go there. Are they open are they open today?

Andrew Doud 19:57

They're open, they're open. I guess they're open this week. You know, it was like the whole thing because a couple of our coworkers here had it, and I was like looking at them like they're like, it's really good, you should go. And so I did. Yeah, and I understand. I get it now.

Dave Rattiner 20:09

Anyway, all right. Well, Sarah, that was really nice. This is a really good podcast. Always such a pleasure to hang out with Sarah Minardi. Oh, it's great. I mean, so you're just a class act. I mean, thank you. Thank you, thank you, gentlemen. Happy to have you anytime.

Andrew Doud 20:23

Enjoy your Memorial Day weekend, regardless of what the weather is. it's gonna be a great weekend. It's the start of summer, it's here, it's warm.

Sarah Minardi 20:31

There's a per there's a parade on Monday in East Hampton. It's a short, it's a short parade, but it does happen on Main Street. So I think that's around 10 o'clock.

Memorial Day Meaning And Sign Off

Andrew Doud 20:40

Well, and certainly also I would say remember what the holiday is all about, which is remembering those who made the ultimate sacrifice for this country, which is important. So it's the unofficial, official start to summer. but that's what the holiday is about. Everybody have a great weekend, a safe weekend. We'll see you next week. Welcome to summer twenty twenty six. I'm Major Dowd. That's what's happening in the Hamptons.