Real Estate Roundtable: What Will Affect Hamptons Beachfront Prices?

Beachfront homes are among the most desirable pieces of property not just on the East End but anywhere in the world. With that in mind, the Dan’s Papers Hamptons Real Estate Roundtable answers the question:

What factors do you see influencing the prices of Hamptons beachfront properties in the near future?

“Beyond prestige and a good stock market, an increase in resilient retrofitting will drive the market. As more homes are elevated to a Flood Protection Elevation, pursuant to FEMA’s Homeowner’s Guide to Retrofitting, and more Villages and Towns shore up the shore front with beach nourishment projects, such as that underway in Sagaponack, buyers’ demand for beachfront properties will once again soar.”—Andrew M. Lieb, Esq., MPH, Lieb at Law, P.C.

“Beachfront property is supply and demand in my personal opinion. We have only a limited supply of oceanfront and bay front property. Most people realize if they are fortunate enough and can afford waterfront, water keeps families together. Sound silly…but I’ve found after 15 years of being a real estate broker, it’s where memories are made; seems everyone comes back to play together, no matter how extended the families are, or who’s arguing with whom. It’s amazing how many family members and friends you have when you own a home in the Hamptons.

Waterfront properties are all about location, and how much someone falls in love while of course staying close to their budget. We have oceanfront properties in Westhampton dunes in the three million range, Westhampton beach between the bridges on the ocean for eight million, and in Quogue I presently have an awesome listing on the bay, bulk headed, and a boater’s dream – that needs a renovation or build a new house for approximately three million, with a ROW to the ocean. If you want to go further east then we have some oceanfront homes that recently sold:  a Southampton Gin Lane home for 75 million, East Hampton 29 million…

What I’m saying is we have lots of diversity. It’s all about location and where you want to be. The area that I specialize in west of the Shinnecock Canal has a huge advantage – being 80 miles from the city or Armonk – so there’s no fighting the additional east end traffic with easy accessibility.

Unless you want to take a helicopter and not deal with traffic, I recommend not going further than Southampton. It’s about having fun, not the stress of driving. If you can work from home and telecommute that’s different. I work with a partner from Southampton to Montauk to support all of your Hampton needs.”—Lynn November, Licensed Associate Real Estate Broker, Douglas Elliman Real Estate

“Beachfront properties have historically been our most sought after locations. One concern that beachfront purchasers have is erosion. Much to the credit of our legislators, the newly instituted, Beachfront Erosion Control Taxation District, is addressing this issue. In the Town of Southampton, oceanfront properties will be taxed and the beaches are to be restored. This has already added confidence to the marketplace and is reflected in increasing demand and rising prices.”—Alan Schnurman, Licensed Associate Real Estate Broker, Saunders & Associates

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