Christopher Covert
Phone
(917) 834-0635
Email
covert@compass.com
Browse my latest mentions below.
Two Sagaponack parcels asking for a combined $48 million, which went into contract in March before officially going to market, have officially sold. Sources say the properties, including one on the ocean and a vacant parcel to the north, traded for $46.5 million — well under 5% off the asking price — on Monday, May 16.
The former Hamptons home of the late Johnson & Johnson chief executive James Burke has sold for close to its $48 million asking price, according to people familiar with the situation.
Yesterday an article was published by The Real Deal about Hamptons rentals being overpriced, the 2022 rental market being down overall from last year, and utilized the high end of the market as an example of lofty pricing. The article was informative and did its job by opening up Pandora’s box of further questions for Hamptons real estate readers to think and ask more about.
The rental market has been quiet after a couple of week-long spurts of activity earlier in 2022. With sales transactions continuing to impress, many landlords who typically rent their homes at reasonable prices for the marketplace, are left scratching their heads at few or no inquiries.
The most expensive new listing on the Hamptons real estate market was also the highest-priced listing to go under contract in March 2022.
The Hamptons is running out of homes for interested buyers. Hamptons Market Data revealed the number of for-sale listings was down to 450 as of April 1, Behind the Hedges reported. Available homes dropped 8.1 percent from the previous month and almost 55 percent year-over-year, the largest inventory decline Hamptons Market Data has ever recorded.
Want a splashy Hamptons spread this summer? Get ready to drop $1M
Two Sagaponack parcels, including an oceanfront property, asking for a total of $48 million, made it to contract last week before it was even officially on the market.
Pricing has been on a noticeable rise in the Hamptons for a solid 2 years. Everyone is wondering how long the increases can last and whether or not a downturn is around the corner.
February 2022 was the first month since August 2021 that, marketwide, the Hamptons saw more new listings come on the market than went under contract. The difference is only 10 listings yet, speculation will begin about Hamptons home prices stabilizing and whether we are nearing a turn in the market. When real estate sales will begin to tip in the favor of buyers in any significant way remains to be seen. The Hamptons real estate market has changed – but...
Some buyers working with real estate agent Christopher Covert of Compass Hamptons have considered utilizing their Bitcoin for a downpayment to avoid paying capital gains taxes when liquidating. “Coinbase and BlockFi will do a 50% loan to value ratio, but they will liquidate you above 60 or 65% LTV. So if you have $1,000,000 in Bitcoin, you could tie up $250,000 and get a $50,000 loan with little risk of being margin called. But cryptocurrency is still ...
The total number of available listings for sale in the Hamptons real estate market declined 40.9% year-over-year for March 1, 2022, but increased 0.2% between February 1 and March 1, 2022. Listing supply has reached a plateau over the last three months, yet the median sold price continues to remain at all-time highs.
The white-hot luxury sector is keeping up with demand.
He tells 'The Daily' how he managed the busiest year of his career.
Tight inventory have created a perfect storm in favor of sellers.
His comprehensive knowledge of the town and village codes and regulations, coupled with his ongoing study of market movement at both micro and macro levels enables him to provide the most detailed evaluation.
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