Real Estate News: Named outstanding rookie by LuxuryRealEstate.com

Elkin Honored At Real Estate Conference

Bridget Elkin, a real estate advisor with Daniel Gale Sotheby’s International Realty, one of the nation’s leading realtors, recently received the outstanding rookie award from LuxuryRealEstate.com, a global collection of top brokers representing luxury properties around the world.

The national recognition is presented annually to an agent with fewer than five years of experience in real estate who has exceeded all expectations. Elkin’s award was announced during the annual luxury real estate fall conference in Washington, D.C.

“Bridget is an immensely talented marketer and negotiator who has experienced extraordinary success in a very short time,” said Daniel Gale CEO Deirdre O’Connell. “She has quickly become one of the top-producing real estate advisors on Long Island’s North Fork.”

Armed with a degree in Mandarin and asian studies, Elkin began her career working in merchandising and brand development for LVMH, a luxury goods company, in Hong Kong and San Francisco, and then at Ralph Lauren, where she was tasked with growing its business in Japan and mainland China. These experiences gave her significant exposure to the global luxury consumer, which translated well to the high-end real estate market on Long Island’s East End.

Sotheby’s Int’l Realty’s Third Quarter Report

Daniel Gale Sotheby’s International Realty’s third-quarter report on Hamptons sales shows the average sale price of Hamptons real estate east of the Shinnecock Canal fell year-over-year by threepercent, from $1.99 million in the third quarter of 2018 to $1.92 million during the same period of 2019. Additionally, according to data compiled by the Long Island Real Estate Report, the total number of sold properties fell by seven percent year-over-year from 328 properties sold in the third quarter of 2018 to 304 properties in 2019.

Nearly all price categories fell year-over-year, with the exception of properties sold above $10 million, which saw a four percent increase year-over-year from $124 million in the third quarter of 2018 to $129 million in 2019. Total volume sold decreased six percent while median sale prices held flat year-over-year at $1.2 million. East Hampton and Sag Harbor both saw an increase in median sale price, of five percent and 16 percent, respectively, spurred by an uptick in the number of homes sold above $6 million in the third quarter of 2019 versus 2018.

The average selling price in Bridgehampton was $3.7 million, $2 million for East Hampton, $1.7 million for Sag Harbor, and $1.5 million for Southampton.

The number of units sold dropped again, from 328 to 304; it was 387 in the third quarter of 2017. Units sold by price range is also down from the third quarter a year earlier at nearly every price point, even below $1 million, which was down from 141 to 127 units. It was 183 back in 2017, but has gone down five of the past six years. Sales over $10 million have nearly disappeared.

rmurphy@indyeastend.com