Around & About The Hamptons

January 2025

January invokes a hope in a person

and keeps it enlightened

for the next 364 days

~Anonymous

It's quiet here in January. A type of quiet that is cozy, calm and comforting. Hibernation, like a warm blanket, seems to have settled in nicely post the bustling holidays which I hope were good to you. The ocean is cold just looking at it, the beaches; barren. Days are short, the streets are quiet and dark way too early. No traffic, no hurrying. Just being. Just doing.. ideal for those things that were put off for this time of year. Truly fascinating how it all changes in just a few short months. I am grateful for the calm.

Reflecting back on the real estate market of 2024, the total numbers have yet been finalized but hover just over those seen in the crash of 2008 and 2009. Many homes saw little to no activity for much of the summer, if not year. Q4 saw a flurry of activity after a delayed drop in mortgage rates. Total number of homes/units sold back in 2009 was only 1150. The numbers for 2024 will clock in just a tad higher, giving a clear window into the year's activity. More on that next month!

The overall feeling for the market in 2025 is one of positivity, for sure. Inventory is coming back, albeit slowly. Historically speaking, real estate markets tend to stabilize and/or recover in post election years. Such resilience in the market seems to be felt in the general pulse here. Some odd, even off setting, pricing strategies observed include underpricing some of the homes in an attempt to drive up bidding wars. Trust us to best guide you with valuation and recommendations on how to navigate this market.

The rental market also saw a busy Q4. The current inventory is not as robust as we would like so do not delay your search. Keep in mind that many landlords do not like to split the season yet, let alone the months. We have a lot of great homes available for rent. Read through to find the QR code for a sampling.

Wishing you only happiness as you start anew in 2025.

Maria and The Cunneen Team

Did you know?

• NY State considering new legislation for tax deductible savings account for first-time home buyers. |t mirrors the state’s existing 529 College Savings program. Learn more here.

   

• Interesting read on inherted IRA's and recent changes. No, I am not promoting anything, just sharing a good read.

   

• First time home buyers: Town of Southampton provides programs to include down payment assistance for those living/working in the town.

   

• Casa Basso has closed. Historic designation for the castle is sought. Waterfront park coming?

   

• Compass joins with Christie's International & @Properties

   

• What is that you see out in the ocean? Dredging began in a massive, multi million dollar beach rebuilding project.

Happenings

Paint & Sip | 1/16/25

Southampton Arts Council

Paint & Sip Art workshop. Learn skills of blending and combing colors in this multi level workshop. Learn more here.

Historic Windmill taking shape!

Work progresses on the Governor John Adams Dix Windmill here in Westhampton Beach. Sitting on the western end of Main Street, at entry of the Village's great lawn, it has been quite the project to watch develop.

Learn more here.

Summer State of Mind

Summer will be here before you know it! There are 5 months, (160 days) until Summer officially begins. Scan for a sampling of homes that could be your happy place here in the Hamptons. Call us to help find your happy place.

Calling The Doors, Beatles & Zeppelin Fans

The Suffolk in Riverhead

January 17th 8pm

The tribute band you won't want to miss if you are a fan of any or all of the above. Always a great show at The Suffolk where every seat is a great one in this very local, inviting theatre. Read more here.

Featured Active Listings

Sag Harbor Village

63 Harbor Avenue

3 BD 2 BA 1100 SF $1,649,000

Pool | Beach Association | double lot

Shinnecock Hills Association with its own beach within a stone's throw. Double lot with gunite pool and only 1 mile from Sag Village. Recreate or build new.

Just Closed!

Westhampton Sold

18 Windwood Court

3 BD 2 BA 2500 SF $1,140,000

Center Moriches Sold

189 Belleview Avenue

3 BD 2 BA 1636 SF $600,000

Thanks for reading and subscribing! Ready to achieve your next real estate goal?

Maria Cunneen &

The Cunneen Team

M: 631.445.7890

[email protected]

[email protected]

Around & About The Hamptons

January 2025

January invokes a hope in a person

and keeps it enlightened

for the next 364 days

~Anonymous

It's quiet here in January. A type of quiet that is cozy, calm and comforting. Hibernation, like a warm blanket, seems to have settled in nicely post the bustling holidays which I hope were good to you. The ocean is cold just looking at it, the beaches; barren. Days are short, the streets are quiet and dark way too early. No traffic, no hurrying. Just being. Just doing.. ideal for those things that were put off for this time of year. Truly fascinating how it all changes in just a few short months. I am grateful for the calm.

Reflecting back on the real estate market of 2024, the total numbers have yet been finalized but hover just over those seen in the crash of 2008 and 2009. Many homes saw little to no activity for much of the summer, if not year. Q4 saw a flurry of activity after a delayed drop in mortgage rates. Total number of homes/units sold back in 2009 was only 1150. The numbers for 2024 will clock in just a tad higher, giving a clear window into the year's activity. More on that next month!

The overall feeling for the market in 2025 is one of positivity, for sure. Inventory is coming back, albeit slowly. Historically speaking, real estate markets tend to stabilize and/or recover in post election years. Such resilience in the market seems to be felt in the general pulse here. Some odd, even off setting, pricing strategies observed include underpricing some of the homes in an attempt to drive up bidding wars. Trust us to best guide you with valuation and recommendations on how to navigate this market.

The rental market also saw a busy Q4. The current inventory is not as robust as we would like so do not delay your search. Keep in mind that many landlords do not like to split the season yet, let alone the months. We have a lot of great homes available for rent. Read through to find the QR code for a sampling.

Wishing you only happiness as you start anew in 2025.

Maria and The Cunneen Team

Did you know?

• NY State considering new legislation for tax deductible savings account for first-time home buyers. |t mirrors the state’s existing 529 College Savings program. Learn more here.

   

• Interesting read on inherted IRA's and recent changes. No, I am not promoting anything, just sharing a good read.

   

• First time home buyers: Town of Southampton provides programs to include down payment assistance for those living/working in the town.

   

• Casa Basso has closed. Historic designation for the castle is sought. Waterfront park coming?

   

• Compass joins with Christie's International & @Properties

   

• What is that you see out in the ocean? Dredging began in a massive, multi million dollar beach rebuilding project.

Happenings

Paint & Sip | 1/16/25

Southampton Arts Council

Paint & Sip Art workshop. Learn skills of blending and combing colors in this multi level workshop. Learn more here.

Historic Windmill taking shape!

Work progresses on the Governor John Adams Dix Windmill here in Westhampton Beach. Sitting on the western end of Main Street, at entry of the Village's great lawn, it has been quite the project to watch develop.

Learn more here.

Summer State of Mind

Summer will be here before you know it! There are 5 months, (160 days) until Summer officially begins. Scan for a sampling of homes that could be your happy place here in the Hamptons. Call us to help find your happy place.

Calling The Doors, Beatles & Zeppelin Fans

The Suffolk in Riverhead

January 17th 8pm

The tribute band you won't want to miss if you are a fan of any or all of the above. Always a great show at The Suffolk where every seat is a great one in this very local, inviting theatre. Read more here.

Featured Active Listings

Sag Harbor Village

63 Harbor Avenue

3 BD 2 BA 1100 SF $1,649,000

Pool | Beach Association | double lot

Shinnecock Hills Association with its own beach within a stone's throw. Double lot with gunite pool and only 1 mile from Sag Village. Recreate or build new.

Just Closed!

Westhampton Sold

18 Windwood Court

3 BD 2 BA 2500 SF $1,140,000

Center Moriches Sold

189 Belleview Avenue

3 BD 2 BA 1636 SF $600,000

Thanks for reading and subscribing! Ready to achieve your next real estate goal?

Maria Cunneen &

The Cunneen Team

M: 631.445.7890

[email protected]

[email protected]