The Hamptons are home to many communities. Historically, it has been devoted to agriculture and fishing. Many farms are still in operation in the area. There are three commercial vineyards operating in the Hamptons as well.
Given the area’s geographic location, it maintained strong commercial and social links to New England and the nearby states of Connecticut and Rhode Island. Many of the original settlers were from and most of the trade links were with communities in Connecticut. Indeed, much of the older architecture and aesthetics of the villages in the Hamptons resemble New England. This is especially true for Sag Harbor Village and East Hampton Village.
Once direct rail links to New York City were established, the community of summer vacation residents expanded significantly. The Village of Southampton, which is the oldest of the Hamptons and the most westward of the villages in the core area of the Hamptons, grew rapidly. It remains the largest and most diverse of the Hamptons’ towns. The other villages and hamlets grew at a slower rate over time.
The agriculture community became supplemented by artisans and professionals (mainly in Southampton Village and Sag Harbor Village), and then by a large influx of artists. As a result, the arts community in the Hamptons has origins extending back to the nineteenth century. The Art Village in Southampton and the community of Springs in East Hampton town hosted a number of resident artists and art schools (e.g., the Shinnecock Hills Summer School founded by William Merritt Chase).
Current profile
The villages and the hamlets are distinguished by how their significant population increases during the summers, although the Hamptons have increasingly become year-round destinations for New Yorkers seeking a refuge on weekends.
Residential real estate prices in the Hamptons rank among the highest in the U.S., and, as of 2015, the real estate market was very strong with prices rising for both home buyers and sellers, as well as for rentals. Historically, real estate south of Route 27 (“south of the highway”), the main transportation artery in the Hamptons, was more highly valued. Land south of Route 27 is closer to the ocean, and the road served as a marker for social standing and land valuation.
The most expensive neighborhoods lie south of the highway, and most of all in the so-called Estate Areas of Southampton Village, Water Mill, Bridgehampton, Sagaponack and East Hampton Village. Notable streets include Ox Pasture Road, Halsey Neck Lane, Coopers Neck Lane and First Neck Lane in Southampton Village and Lee Avenue and West End Road in East Hampton Village. Oceanfront property commands a high premium over other real estate. The oceanfront streets in Southampton Village (Gin Lane and Meadow Lane) and East Hampton Village (Lily Pond Lane, Further Lane and West End Road) rank among the most expensive roads in the country. Meadow Lane in Southampton Village is sometimes referred to as “Billionaire’s Lane”.
Sagaponack, Water Mill, and Bridgehampton were cited by Business Week magazine as being the first, sixth, and eighth most expensive ZIP codes in the nation, respectively. In 2015, according to Business Insider, the 11962 ZIP code encompassing Sagaponack, within Southampton, was listed as the most expensive in the U.S., by real estate-listings site Property Shark, with a median home sale price of $5,125,000. In 2016, according to Business Insider, the 11962 ZIP code encompassing Sagaponack, within Southampton, was listed as the most expensive in the U.S., with a median home sale price of $8.5 million.
Amenities in the area include the Southampton Arts Center, the Southampton Cultural Center, the Pollock-Krasner House and Study Center in Springs; the Parrish Art Museum and the Watermill Center in Water Mill; the Guild Hall, a museum and theater, in East Hampton. In the sporting world, the region’s golf courses are very highly regarded. The private golf clubs in Southampton are among the most exclusive and expensive in the nation. Those courses include the National Golf Links of America, the Shinnecock Hills Golf Club, and the Sebonack Golf Club. These golf clubs are currently ranked 8th, 4th and 41st within the United States by Golf Digest. There is also the Maidstone Club in East Hampton, ranked 72nd by Golf Digest.
Other private clubs include The Bathing Corporation of Southampton, the Southampton Bath and Tennis Club, and the Meadow Club in Southampton Village.
In 2019, according to Tim Davis and The Financial Times, home prices in The Hamptons fell 19.3 per cent in the first quarter while the median sale price of a single family home was $860,000. The locals blamed Donald Trump’s tax changes for deterring wealthy buyers in 2019.
