The Hamptons real estate market remains stable even as buyer behavior becomes more cautious and deliberate. Veteran agents Patricia Oakley and Brian Leicht of the Oakley Leicht team at Saunders & Associates describe a landscape shaped by long-term changes in demand, inventory, and buyer expectations.
Oakley, who entered real estate after 18 years in pharmaceuticals, has spent 16 years building expertise in the Hamptons alongside Leicht, who has worked in the region for 34 years. Together, they have witnessed the market’s evolution from a locally driven scene to one defined by national buyers and corporate brokerage consolidation.
Persistent Inventory Shortage
Today, the Hamptons faces a chronic lack of homes for sale. Oakley notes, “There’s plenty of buyers, so it is a seller’s market here,” contrasting the Hamptons with markets like Florida, where she recently observed many more options for buyers.
This scarcity creates a situation where new listings are quickly absorbed. According to Oakley, “Houses come on, but then houses sell, and it’s kind of like a net zero.” If ten homes go under contract in a week and ten new ones are listed, the total inventory remains flat. As a result, buyers face limited choices, and sellers retain significant leverage.
There have been slight improvements in recent months, with Oakley observing “a little bit of an uptake in inventory,” but the overall supply remains far below pre-pandemic levels. This imbalance continues to drive competition and keeps prices high, especially for properties that meet current buyer preferences.
Buyer Behavior
While inventory remains tight, the pace of buying has slowed compared to the urgency seen during the pandemic. Oakley describes today’s buyers as more patient: “Buyers are just taking their time. There’s no sense of urgency.” Some buyers still want to close before summer, but most are willing to wait for the right fit. When a property checks most of its boxes, they move quickly, but they are less likely to compromise.
This shift has led to longer listing periods for many homes. The team now sees properties remain on the market for 170 to 200 days, compared to just 10 to 30 days during the peak of the pandemic boom. Homes that do not offer clear value or desirable features are more likely to linger.
Yet when a property stands out, motivated buyers act decisively. Leicht recently listed a home at 41 Deerfield Road in Water Mill that drew immediate attention. He recalls a buyer who drove out from New York City just to see the property and returned the same day for a meeting, illustrating that serious buyers will still move fast for the right listing.
Pricing and Negotiation
With buyers more selective and willing to wait, realistic pricing is increasingly important. Oakley explains that sellers who are serious about closing a deal are negotiating, especially if their asking price is above market support. “Sellers need to negotiate if their house is stronger than what the market value is indicating,” she says, or risk extended time on the market.
Despite the need for more flexible pricing, the Hamptons continues to see price appreciation, particularly at the high end. Leicht notes increased activity in the $10 million-and-up segment, suggesting that some buyers are shifting funds from volatile stock markets into real estate. Tangible assets in the Hamptons remain attractive, both for their use value and their perceived stability.
Changing Property Preferences
The pandemic has fundamentally changed what buyers look for in a Hamptons home. Oakley observes that home offices, once rare in buyer requests, are now among the most important features. “Nobody ever used to ask for an office in a house, and now that’s one of the number one questions,” she says.
Buyers also want resort-style amenities that enhance the feeling of escape from city life. Leicht explains, “Outdoor kitchens have become very popular. The pool house experience is very popular, with covered porches where they can have dining, which may have a fireplace as well.” These features allow buyers to feel like they are truly getting away, even if their primary residence is only a few hours away.
The desire for flexible, functional spaces reflects a broader trend toward homes that support remote work, entertaining, and extended stays. Buyers want properties that can serve as both second homes and primary residences, depending on their needs.
Experience and Local Knowledge
Oakley and Leicht attribute their team’s success — recently ranking among the top 2% of realtors on Long Island — to deep market knowledge and a comprehensive approach to client service. Leicht emphasizes that “real estate on the outside looks relatively easy, but it can be a very complicated transaction.” Their process involves detailed preparation, whether representing a seller or guiding a buyer, and includes thorough research on every aspect of a property.
Leicht likens their method to preparing for a film: “We lay out a format of how it’s going to go, almost like how a movie is going to play out.” This approach ensures that clients know what to expect, which helps reduce surprises and smooth the transaction process.
Looking Ahead
As 2026 progresses, Oakley and Leicht anticipate continued strength in the Hamptons market. Oakley expects, “We’re setting up to just have a better year than last year,” with a mix of large and small listings in the pipeline.
The Hamptons continues to attract buyers from Manhattan, Connecticut, New Jersey, Florida, and California, reflecting its enduring appeal as both a resort destination and a practical alternative to city living. While the market has moved beyond the pandemic-era frenzy, the combination of limited supply and steady demand positions the Hamptons for ongoing stability.
Implications for Buyers, Sellers, and Agents
For buyers, patience and readiness remain critical. With inventory still low, those who can move quickly when the right property appears are best positioned to succeed. However, buyers have more room to negotiate and can afford to wait for homes that truly meet their needs.
Sellers benefit from the ongoing inventory shortage, but must recognize that buyers are more selective than they were at the peak of the pandemic. Pricing realistically and being open to negotiation are key to avoiding long listing periods.
For agents and brokers, the Hamptons experience highlights the importance of local expertise, thorough preparation, and adaptability to changing buyer preferences. Success in this market depends on anticipating what buyers want, understanding shifting negotiation dynamics, and providing clients with clear, actionable guidance.
The Hamptons market in 2026 demonstrates that even in a stable, high-demand region, the rules of engagement continue to evolve. The agents who thrive are those who combine experience with a willingness to adjust as buyer priorities and market conditions change. As Oakley and Leichts track record shows, deep knowledge and a client-focused approach remain the foundation for success in premium real estate markets.
About the Expert: Patricia Oakley and Brian Leicht of the Oakley Leicht team at Saunders & Associates bring decades of combined experience in the Hamptons luxury market, with backgrounds spanning pharmaceuticals, investment analysis, and more than 30 years of regional real estate expertise. Together, they offer a grounded perspective on shifting buyer behavior, inventory constraints, and long-term trends shaping one of the nation’s most competitive second-home markets.
This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.
