One of the first questions I get asked every week is “how busy was the weekend?” Here in the Hamptons, the real estate market (IMHO) really sees most of it’s action Thursdays – Sundays. It makes sense since we are a secondary home market that most buyers come on the weekends to take a look. That being said, I’m going to try on Monday mornings to quarterback the weekends activity! I mean we all get those market reports but in a world where everyone wants instantaneous information this is my attempt to satisfy that need. From now on every Monday I’ll be posting my “MONDAY MORNING MARKET REPORT.”
The results of this little “report” are not very scientific but I’m trying to make it as accurate as possible. It is compiled from a cross section of about a dozen broker and agents from different companies and all have more than 5 years in the business and have at least a hand full of listings and are actually earning a living. It’s a “Hamptons Chatter” exclusive and hopefully more accurate than a Brian Williams special report broadcast but not quite as detailed as PBS’ Newshour.
The weekend of February 6th-8th has traditionally (this time of year) been a slow to moderately busy weekend for Hamptons real estate and this year was pretty much on par with last. While Internet traffic has been steadily increasing with a a big bump back on MLK weekend, the cold and icy weather put a damper on actual showings and appointments. Homes with un-plowed drives and walks covered with snow made it difficult for buyers, renters, sellers and agents. Some agents have also mentioned homeowners concerns with liability issues over icy and dangerous walkways.
Rental traffic has also been effected by the bad weather. While there is still ample rental inventory, homeowners are choosing to hold out for whole season rentals before breaking down to monthly terms due to the slow traffic. We can also expect to have more rentals to be added to the market as agents continue to update from 2014.
The above factors have impacted overall activity and influenced it’s grading as a “C” weekend. This is on a grading system of “A” being extremely busy and an “F” being dead as a door nail. Look for a jump next weekend as the President’s Day Holiday has traditionally been a busy time for everyone on the East End.
Meanwhile, since so many Hamptonites have been hunkered down and snowed in more times than not these past few days, I have a suggestion that will make that time in front of the fire and flat screen a little more bearable. Why not grab a box of wine? Yes, a box of wine. But before you roll your eyes, I’m here to tell you these aren’t your “cheese cubes and Ritz crackers” boxes of wines. With some of the biggest and best vineyards in Europe and California already boxing their potable spirits, it was only a matter of time before Long Island vineyards joined the trend. If you don’t believe me, check out this article from Edible East End … it’s worth the read!
So remember, stay warm be careful on the icy roads and remember to top that box to get the last drop! Cheers!