Business

The East End real estate boom brought on by the Covid-19 pandemic is experiencing a shift thanks to historically low inventory, but the market is still feeding historically high prices, competitive conditions, a near-total lack of available rental properties, and faster turnaround of deals as a result.

Here's a snapshot of real estate dealings from Montauk to Southampton Village.

For a luxury Montauk rental, it sounds too good to be true. Six bedrooms, 7,300 square feet, ocean view, heated saltwater pool with waterfall edge, and top-of-the-line kitchen appliances listed for $2,500 a night on Airbnb. The catch, says the homeowner: It's a scam offered by "hosts" who've used the legitimate real estate photos to dupe unsuspecting vacationers.

Eversource, the Boston and Hartford-based energy company that is a partner with the Danish energy company Orsted in the South Fork Wind farm and other projects, may sell all or part of its offshore wind assets.

A $690,000 sale in Noyac is the rock bottom of the market? This is the week in Hamptons real estate.

It wasn’t just bread baking or pet ownership that Covid refugees turned to once they had alighted here during the pandemic. Many also embraced horseback riding, observed Natalie Mattson, who owns Brennan’s Bit and Bridle in the Bridgehampton Commons.

It was a busy week in Hamptons real estate dealings.

In addition to an already tight labor market, three major structural problems plague the East End. Lack of affordable housing, lack of public transportation and inadequate roads to handle growing traffic, and a lack of child care add to the already difficult task of hiring and retaining employees.

Construction is under way at 106 Newtown Lane in East Hampton Village, where a new retail store, office space, and two-bedroom apartment are planned on the site of the former East Hampton Cleaners, which closed at the end of 2018.

The latest in the never-cooling South Fork real estate market . . .

The week’s real estate rundown.

"I've always loved Montauk," said Jennifer Fowkes, the new executive director of the Montauk Chamber of Commerce.