Top 5 Stories of the Week: What Today’s New Listings Mean for the Hamptons Real Estate

The property at 5 Captain Balfour Way in Montauk was originally listed in 2018, went off the market, but is now relisted for sale at $3.599M with John Frangeskos of the Corcoran Group.
Courtesy of the Corcoran Group

Since the start of November 2020, there have been an average of 18.5 new listings per week entering the Hamptons real estate market. The last four weeks have seen an average of 35.5 new listings to market. Twenty-three percent of last week’s new listings had been on the market within the last year and relisted after having gone off the market for at least 30 days.

Hamptons Market Data had not been monitoring back-on-market statistics, as no other week so far had enough relisted properties to raise any eyebrows. Perhaps sellers are getting as clear on their near-future plans as buyers have. Perhaps complicated situations, like holdover tenants and work from home scenarios, are finally beginning to resolve.

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Long Island’s Oldest Running Family Farm in Aquebogue Preserved

A historic purchase earlier this week will help keep Long Island’s oldest running farm just that — a farm.

Suffolk County purchased the development rights to 11.16 acres of the Wells Homestead Acres farm in Aquebogue for $613,800, which means the land is safe from potential development.

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Firefighters Train in Old Restaurant Building on Georgica Pond Before Demolition

Firefighters got to undergo some important training inside an old restaurant building that is set to be razed.

Last week, the East Hampton Fire Department hosted a training exercise for members of several fire departments in the old building at the southeast corner of Wainscott Stone Road and Montauk Highway in Wainscott. The Peconic Land Trust bought the property on Georgica Pond in 2020 with plans to restore it to its natural vegetative state and improve the pond’s water quality.

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Shutterstock’s Jonathan Oringer Lists Bridgehampton Oceanfront Home for $52 Million

A rather striking modern home just feet from the ocean surf in Bridgehampton has found its way back on the market. The 10,300-square-foot home which sits on slightly more than two acres at 125 Mid Ocean Drive was listed last week for $52 million with Douglas Elliman Real Estate’s Erica Grossman and Michaela Keszler.

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‘The Glass House’ Hits the Market for Just Over $7 Million

This modern East Hampton home is anything but cookie cutter, even when it comes to high-end contemporary architecture. All of the walls in the home at 145 Neck Path in Springs, listed at $7.099 million, are made of glass.

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