Memorial Day weekend has arrived on the East End. Sunny skies, warm water and calm seas are on the horizon. But what about the real estate market? For the market forecast, we turned to the experts, asking: As the summer season approaches, what is the current state of the market in your eyes? Are deals happening, and if so, which segment are you seeing the most velocity occur in?
Barry McGovern
HEDGEROW EXCLUSIVE PROPERTIES
BRIDGEHAMPTON
As summer approaches, the market’s heating up – and not just with the weather. There’s barely any high-quality, turnkey inventory out there, and when something great hits the market, it doesn’t sit long. In fact, we’re seeing bidding wars – not just from end users looking for their dream home, but also from developers ready to pounce. That kind of competition is a strong sign the market’s trending upward. The most action right now? Sharp, move-in-ready homes with style and substance. If it’s well-designed and in a great spot, it’s gone in a flash. Even land with good bones is getting snapped up fast by builders who see the upside. Bottom line: it’s a tight market, but when the right property shows up, it’s game on.
Susan Breitenbach
THE CORCORAN GROUP
SOUTHAMPTON
The Hamptons real estate market is extremely lively, especially now that the weather is beautiful! Although people are a little concerned about the recent stock market fluctuations and all the things going on in the world, I have no doubt our region will be extremely busy this summer. In fact, I have successfully brokered more transactions so far this year than I did during the full year of 2024. Getting deals over the finish line is not always easy and buyers are not willing to overpay, but significant sales are happening regularly. In the last three weeks alone, I am happy to report I have put another $70 million into contract. When it comes to rentals, the market kicked off the year quite busy in January, which was unusual, then slowed up a bit, but is now very active again! We have also done an incredible amount of rental business this year, but surprisingly, there is still some very good inventory left. Prime properties are trading fast, but it’s not too late to secure your perfect summer paradise!
Enzo Morabito
DOUGLAS ELLIMAN
SAG HARBOR AND WESTHAMPTON BEACH
We’re seeing a nuanced market as we head into summer. While high-end transactions above the ultra-luxury threshold are undoubtedly slower to move — largely due to broader economic uncertainty and shifting political sentiments — well-priced properties are still commanding attention. Overpriced listings continue to stall, but thoughtfully and competitively positioned homes are generating real buyer interest. Right now, the most momentum is in segments where sellers are realistic and strategic about pricing. In particular, the $1 million to $5 million range has emerged as a sweet spot for activity, offering compelling value and strong buyer engagement. In today’s environment, success is less about timing the market and more about understanding it and setting the right price from day one.
Evan Kulman
THE KULMAN HARRISON TEAM
COMPASS
BRIDGEHAMPTON
As we head towards the summer season, the Hamptons market is showing selective momentum. Buyers are active, but cautious, prioritizing turnkey properties in prime locations. Homes that are priced correctly are still seeing multiple parties interested, particularly in the $3 to $6 million range. Inventory remains tight in most areas, which is keeping pricing relatively firm despite a more measured pace overall. On the rental side, there was a pause in the market, which coincided with economic challenges, but that is slowly changing for the better as well. Overall, deals are happening — but both buyers and sellers need to be realistic and strategic to capitalize on current conditions.
Mark Greenwald
SAUNDERS & ASSOCIATES
SOUTHAMPTON
The Hamptons market is strong. Inventory levels are rising to meet demand and I have experienced a very busy 1st quarter 2025, which I think is a trend that is going to continue through the summer. I have found customers trading to bigger homes for their extended families, or smaller homes as their family lives evolve, as well as first-time Hamptons buyers engaging in this market. Deals are being made with, what I see, is less negotiation especially for properties with special features that customers value. I recently completed a deal pre-construction, south of the highway, with tennis, with a repeat customer who knew when he saw the property that it was everything he had been looking for and we transacted quickly.
Angela Boyer-Stump
SOTHEBY’S INTERNATIONAL REALTY
BRIDGEHAMPTON
As we head into the summer season, the market feels fluid — deals are happening, but momentum is driven more by individual needs than broad trends. Well-located, thoughtfully presented homes are moving, particularly in the $2 -$5 million range, where buyers are making purposeful decisions. We’re also seeing real strength at the very high end, with recent closings in the $60 -$70 million range underscoring confidence at that level. Some properties are taking longer to move, but that speaks more to timing and lifestyle fit than lack of interest. It’s a market full of opportunity — for both buyers and sellers who are clear about their goals.
This article appeared as the cover story in the Memorial Day weekend issue of Behind The Hedges in Dan’s Papers. Read the full digital edition by tapping here. For previous Real Estate Roundtable columns, click here.
