THERE’S NO INVENTORY IN THE HAMPTONS!

Want Top Dollar for Your House? Now’s the Time To List It.

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s the time to list.

1. Demand Is Very Strong This Winter

recent article in Inman News explains:

“Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . ‘Home shopping season appears to already be in full swing!’”

And they aren’t the only ones saying buyers are already out in full force. That claim is backed up with data released last week by ShowingTime. The ShowingTime Showing Index tracks the average number of monthly buyer showings on active residential properties, which is a highly reliable leading indicator of current and future trends for buyer demand. The latest index reveals this December was the most active December in five years (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

As the data indicates, buyers are very active this winter. Last December saw even more showings than December of 2020, which was already a stronger-than-usual winter. And remember – you want to sell something when there’s a strong demand for that item. That time is now.

2. Housing Supply Is Extremely Low

Each month, realtor.com releases data on the number of active residential real estate listings (listings currently for sale). Their most recent report reveals the latest monthly number is the lowest we’ve seen in any January since 2017 (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

And don’t forget, the best time to sell an item is when there’s a limited supply of it available. This graph clearly shows how extremely low housing supply is today.

Even Though Supply Is at a Historic Low, Home Sales Are at a 15-Year High

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), existing-home sales totaled 6.12 million in 2021 – the highest annual level since 2006. This means the market is hot and homeowners are in a great place to sell now while sales are so strong.

NAR also reports available listings by calculating the current months’ supply of inventory. They explain:

“Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.”

The current 1.8-months’ supply is the lowest ever reported. Here are the December numbers over the last five years (see graph below):

Want Top Dollar for Your House? Now’s the Time To List It. | MyKCM

The ratio of buyers to sellers favors homeowners right now to a greater degree than at any other time in history. Buyer demand is high, and supply is low. That gives sellers like you an incredible opportunity.

Bottom Line

If you agree the best time to sell anything is when demand is high and supply is low, let’s connect to begin discussing the process of listing your house today.

Happy Holidays! On Damark’s… get set… go!

Woah!  It’s been a few months since I sat down and pounded away the word salad known as Hamptons Chatter.     Tons going on and I haven’t been there for you.   Maybe, I’m just feeling vulnerable since the media has been under such scrutiny lately.  I mean the last thing in the world I need is to come under attack via an early morning tweet!  Yes, I’ve heard this blog is one of the favorites of you know who!

Anyway, in the time it took me to write a new piece, Damark’s Deli has been looking primed for business since mid-summer.   But alas every morning after your coffee,  reading the NY Times followed by Dan’s Behind The Hedges you came to Hamptons IMG_0458Chatter only to be disappointed that it’s still the same old post.    I know!  You IMG_0457 2paused, and said to your self, “self at least Damark’s deli is opening soon!”    But you were disappointed in that too!   Well you can finally call the doctor and reduce your meds,  I’m back and Damark’s Deli is finally reopened!!!   So how is it?   Meh.  It’s a supermarket.  They sell food.   They have coffee too.  Oh, something that is new… they now have brick oven pizza.   It’s no Citarealla but on the upside it’s no Stop and Shop!     I will say it’s bright, spacious, clean and probably a big plus for anyone in Springs.   (notice I didn’t call it “The Springs).   Hours and information are available on their website and in case you were wondering they’ve been around since 1949.     The same year that Hamptons Chatter started!

Speaking of food or actually not speaking of food… speaking of booze… the Golden Pear in Bridgehampton now has beer and wine!      Prices are pretty much on par with every one else in the Hamptons and the selection is actually pretty good.   Although I was a tad disappointed they didn’t offer any Domaine Leflaive Chevalier Montrachet Grand Cru by the glass it’s pretty awesome that you can now sit down with some beer or vino and eat the best mac and cheese on the east end (seriously).

Finally, I’m making a promise to not leave all of you sad and depressed.  I’m promise I’ll be a better blogger from now on!  By the way… I’m having trouble posting photos.  WTF WordPress!?

 

Summary of Summer ’17

I know I’ve been a bit remiss in writing my blog this summer.     But while I’m sure none of you lost sleep awaiting my latest post, at least know you’re always reading something relatively fresh.    I mean how easy would it be to turn this into a “Men’s Health” type blog where I just repeat the same old stories with different fonts over and over again. “How lose 20 lbs by Labor Day, How to Have Your Best Summer Ever, Bathing Suits for Every Build.”  Blah Blah Blah.

In the meantime, I have so many things I wanted to write about over the course of the past few months but I never had time to put finger to key or at least the focus.     So rather than do one long coherent post, I’m just going to let it all out.   So, now here are my observations during the summer of ’17 on the East End and my hopes for next year.

Wifi cafe icon set
SUMMER OF ’18… NOT AT MY HOUSE!

 

  • Next summer, I will be hooking up a for pay wi-fi system at my house.    The first 24 hours are free, after that it’s $99.00 a day.    I mean are you here to visit me or watch Netflix?!
  • “Casual” in the Hamptons means only 3 people insult your outfit.
  • It’s really not cool to gasp at another person’s sunburn.   Yes, it hurts and the look of horror doesn’t help in any way what soever.
  • How does one get a speeding ticket on Rt. 27 in the Summer????
  • If you’re under 5’1” then maybe driving a Range Rover two days a week for three months a year isn’t really a good idea.    Doing it while texting is an ever worse idea. May I suggest maybe getting a Smart Car and leaving the phone on the seat beside you!?
  • When driving west, isn’t it a little weird that Stephen Hands is so close to Daniels Hole?
  • My favorite overheard conversation at the Golden Pear, “She wore Lululemon to her f*****g wedding!”
  • Next year, I dare restaurants in the Hamptons to offer discounts for people who leave their smart phones in the car!  I really think it would actually improve things more than you think.
  • Speaking of restaurants… I’m sorry but if I am paying more than $25 for an entree, I don’t want to hear your kids screaming in my ears at dinner.  If you can afford the entree you can afford a baby sitter for an hour.
  • Finally, September is really the best month in the Hamptons.    But please don’t tell anyone or write a stupid blog telling others.   Let’s just keep it between us.

 

JUST YOUR AVERAGE HAMPTONS LUNCH….

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