Your buyer drives down a winding road lined with tall, leafy trees and perfectly manicured lawns, eventually reaching an exclusive community that exudes prestige and luxury. They have arrived in Quogue — your haven in the Hamptons, a place that speaks to the height of class and sophistication. The quaint hamlet blends stunning natural beauty with beachside village appeal, a place of timeless charm.
With so much to recommend Quogue, your prospects as a local seller are high. Still, you face stiff competition. The local real estate market offers sprawling mansions and cozy cottages in varying proximity to the dazzling ocean. Quogue remains an esteemed destination in the eyes of New York’s elite. Selling a home in such a competitive market needs strategy, preparation, and thorough knowledge of real estate trends.
Observing trends in the Quogue real estate market
As we move further into 2023, Quogue's housing market is demonstrating trends crucial for potential sellers to understand. It’s no surprise that property values continue to climb. In April, the market for homes in the Hamptons reportedly reached a median sales price
of $3 million. That figure outstrips the average sales price in Manhattan by over $1 million, the largest such difference since at least 2005.
Stoebe & Co. has access to 38 publicly listed properties
in Quogue. As of August 2023, the median sales price for these properties was $3.125 million. Seven of these luxury homes were on Dune Rd., the prestigious waterfront road that is a 14 mile stretch from Cupsogue Beach County Park to Shinnecock County Park West. The median square footage of Quogue luxury homes was 3,340.
The Quogue real estate market is best understood in tiers. Luxury homes generally start at $1.5 million. As of August 2023, 15 single-family residences were listed between $1.5 million and $3 million. As a seller, unless you have a particularly valuable property, your floor is likely somewhere in that $1.5 million to $3 million range.
The second main tier of the Quogue real estate market comprises homes priced between $3 million and $8.5 million. There are 14 such homes, compared to 15 in the preceding tier. Meanwhile, a finite number of mega-mansions constitute the market’s ceiling. There are three properties listed in the eight figures, plus an indeterminate number of “pocket-listed” homes.
Procedure for selling a luxury home
A savvy local agent can strategize the optimal listing price, ensuring your home sells for top dollar. The Quogue real estate market is hotter than ever. While many buyers are open to anywhere in the Hamptons, the local inventory shortage bodes well for anyone selling houses in Quogue. To stand out, start by asking your agent for help staging and presenting your home in a way that highlights its best features.
Engage a knowledgeable agent
A crucial part of any home-selling process is securing the services of an agent with a deep understanding of the local market. Experts like Thomas Stoebe
and Gloria Scrocco
can guide you through the selling process, provide valuable advice on property presentation, and help you negotiate the best price possible.
Draft a selling schedule
One of the most important steps in selling your home is developing a comprehensive timeline. A clear plan can help manage stress levels, keep tasks organized, and ensure important milestones are met. With a timeline in place, you can easily make adjustments to stay on track throughout the selling process
Decide on necessary improvements
While upgrading your home can increase appeal, it's important to discern which changes are worthwhile. Renovations should enhance your home's value without overspending on non-returning investments. It’s crucial to tailor any improvements to the expectations of buyers in Quogue.
Price your home realistically
Setting a fair price point that matches your property's worth and the current market scenario is paramount. An overpriced property might discourage potential buyers, while underpricing could mean losing potential profits. The market can change quickly, so be prepared to adjust your asking price accordingly.
Professionally present your property
High-quality, professional photos can greatly impact your listing’s appeal. Showcasing your home's best features in clear, well-lit photos can attract more prospective buyers and generate better offers. A local agent with connections can link you up with professional cleaning services, photographers, and staging experts.
Discuss and settle terms
Upon receiving offers, careful review and thoughtful negotiation are necessary to ensure you achieve your selling goals. Your agent can provide invaluable assistance in this complex process.
Evaluate closing expenses and tax responsibilities
When selling a property, it's essential to know the closing costs and tax implications. Understanding these financial obligations can help avoid unexpected expenses and ensure a smoother transaction. For example, closing costs
are typically 8% to 10% for sellers in New York.
Enlist a real estate attorney
Hiring a local real estate attorney that is well versed in the local regulations and laws can provide legal assurance during the transaction. Their expertise can protect your interests and help navigate any legal complexities that may arise.
Assemble documentation and finalize the sale
The final step in selling your home is gathering all the necessary paperwork and closing the sale. This stage can be intricate and requires precision to ensure all details are addressed correctly.
About Stoebe & Co. Real Estate
Steeped in the elite Village of Westhampton Beach, Stoebe & Co. Real Estate
is a privately run brokerage known for commanding over $1B in sales. With expertise ranging from primary to ultra-luxury and commercial markets, the team has carved a niche as an industry frontrunner.
and Gloria Scrocco
expertly leverage the latest technological advances to deliver unparalleled results and customer experience. Their success is a testament to both an innovative approach and work ethic. Working with Stoebe & Co., you have the support of their in-house marketing division that operates at the forefront of luxury real estate in the Hamptons.
If you're looking to buy or sell a home or have any questions about the Quogue real estate market, contact Stoebe & Co. Real Estate
today. With expert agents like Thomas Stoebe and Gloria Scrocco, you will receive all the guidance you need for a successful sale in Quogue.