Overall Market Review
Water Mill is a small hamlet in comparison to neighboring Southampton and Bridgehampton, but its historic charm and quiet feel have drawn many wealthy homeowners. The environment is a mixture of waterfront, farm fields and woodlands with sustainable agriculture. The visual and performing arts are celebrated at places like the Watermill Center, started by avant-garde opera designer and director Robert Wilson, and at the East End-focused Parrish Art Museum.
What Does This Mean Going Forward?
Homes in Water Mill have been selling for seven and eight figures, as hedge-funders and celebrities discover it as an alternative to the busier Southampton and Bridgehampton. Celebrity residents include talk show host Kelly Ripa and her husband, actor Mark Consuelos, who own a mansion in a wooded area of the hamlet. The late shoe designer Vince Camuto restored a Gatsby-era waterfront landmark in this hamlet that was listed for $72 million.