The Blubber

Hamptons rentals have dropped 30% compared to the same period in prior years, according to Judi Desiderio of William Raveis Real Estate. Brokers dealing in the ultra-luxury segment report even steeper declines—some say their rental activity is down by 50% to 75%.

“People are holding on to their money,” said Enzo Morabito, who leads the Hamptons-based Enzo Morabito Team at Douglas Elliman. “They don’t like uncertainty.”

Last-minute booking is nothing new in the Hamptons—many renters typically wait until June to secure July and August stays. Brokers note that the delay is even more pronounced this year, potentially due to the unusually cold and rainy May weather. Others believe renters are hesitating in hopes of snagging better deals in a post-pandemic market where prices have soared.

Behind closed doors, both renters and agents cite broader financial concerns. A volatile stock market and growing economic unease, fueled by shifting tariff policies, have led some affluent would-be renters—and even buyers—to rethink spending big on a Hamptons summer escape.

Brokers saw a surge of inquiries in January and February following the post-election market rally. But by spring, as tariff announcements rolled in during April, interest failed to convert into actual bookings.

Morabito said he still has luxury waterfront listings that, in past years, would have been snapped up by March or April. Now, they're sitting idle. Some homeowners, particularly those who rent out multiple properties each summer, may begin questioning the value of those investments if the season doesn’t pick up.

That said, the glut of inventory has opened up opportunities for renters. Prices on some listings have already been slashed by 10% to 20%, with owners offering shorter rental terms—one- or two-week stays—in an effort to fill vacancies.

Gary DePersia of My Hampton Homes said premium rentals, which are usually booked early in the year, remain widely available. “But this year I have great rentals available in every town, from Southampton to Montauk,” he noted.

While tariffs and economic turbulence are likely factors in the slowdown, DePersia said renters have increasingly waited longer each year to make decisions—often hoping for last-minute deals. Eventually, most return.

“A number of people have put off making plans. They weren’t sure—Europe, the West Coast?” he said. “But they’ll remember they want to be in the Hamptons. They have friends here, colleagues here—and then they scramble.”

Desiderio echoed that sentiment, pointing to a slow start exacerbated by dour headlines and dreary skies.

“I believe this year there was so much ‘dark noise’ out there—financially, geopolitically—and the weather wasn’t conducive to thinking of summertime,” she said. “But there’s no doubt that by July 1, the rentals will be gone.”

Home Sales Stay Strong

Despite a lull in rentals, the sales market remains resilient. Though transactions fell 12% year-over-year in Q1, the median sale price jumped 13% to a record-high $2 million.

Brokers say that well-priced, quality homes still sell fast, and that a recent surge in high-end Manhattan deals may give the Hamptons market another boost.

“I just had two Canadians bid on an $18 million home—sight unseen,” Morabito said. “When Manhattan heats up, we always follow.”