A prospective buyer searched for a dream house in the Hamptons but could not find a property that truly fit. With supply scarce and key criteria unmet by existing listings, creativity proved essential, leading to a new approach in an often-competitive market.
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Luxury Homes
Market Trends
Behind the Hamptons’ inventory mirage
Photo by The Real Deal
Key Takeaways:
- Low inventory makes it challenging to find a Hamptons home that meets all requirements
- Buyers often struggle with issues like outdated layouts, poor natural light, and less-desirable locations
- Some agents now look to parcels of land for clients willing to build
- Location remains critical, as proximity to town can make or break a sale
- When “the perfect house” isn’t on the market, custom construction can fill the gap
The Elusive Hamptons Home
When Mark Greenwald’s client set out to buy a house in the Hamptons late last year, the real estate agent quickly realized how sparse the market had become. Although there were several active listings, none aligned with the buyer’s must-haves. One home, for example, required too many upgrades; another suffered from low ceilings and inadequate natural light; a third offered almost everything but sat inconveniently far from Southampton Village.
Confronting a Mirage of Inventory
Greenwald, an agent with Saunders & Associates, summed up the challenge: “The inventory just wasn’t there.” Despite the variety of properties on the market, his client found flaws that couldn’t be overlooked. As Greenwald put it, “The house he wanted wasn’t being built.”
Turning to Undeveloped Land
Facing repeated setbacks, Greenwald adopted a workaround. Rather than continue scouring the market for an existing home, he located a parcel of land in an area that better aligned with the buyer’s requirements. By shifting gears from a ready-to-move-in home to a custom build, his client could freely prioritize floor plans, ceiling heights, and other key features missing from the available inventory.
Implications for the Hamptons Market
The buyer’s pivot underscores a growing reality in the Hamptons: sometimes, dream homes simply aren’t up for sale. As the region grapples with a tight inventory, potential homeowners may increasingly opt to build from scratch. Location remains a top priority, as proximity to iconic village centers can determine whether a property truly fits the bill.
In a place as coveted as the Hamptons, the search can feel like a mirage—tempting options that never quite match. For some, the best solution may be constructing what doesn’t yet exist, carving out a home that meets every box on the checklist.
