Log In   ·   Become A Member

North Fork Real Estate Market Sees Growth In Home Sales, Sales Volume And Median Sales Prices

Nicole Barylski

3430 Mill Lane in Mattituck was among Q1 sales.

"The North Fork is getting its groove on!" Judi A. Desiderio, Town & Country Chief Executive Officer, reflected about Town & Country's North Fork 1Q 2018 Home Sales Report. "There were nearly 20 percent more money changing hands this year vs. last year and a 19 percent leap in Median Home Sale Price, same period."

The most impressive market was Jamesport (which covers Aquebogue, Baiting Hollow and South Jamesport), which saw the largest jump in Number of Home Sales and Total Home Sales Volume. While Median Home Sales Price remained stable, 38.5 percent more homes were sold in Q1 of 2018 compared to Q1 of last year, and Total Home Sales Volume grew by 27 percent.

Mattituck (which includes Laurel and Cutchogue) also saw sizable growth in home closings quarter over quarter, with a 25 percent increase. However, sales over $1 million fell from five last year to only one this year in Q1.

The biggest surge in Median Home Sales Price came in Orient (which includes East Marion and Greenport). A whopping 250 percent increase in sales $1 million to $1.99 million brought the Median Home Sales Price up by 38.5 percent - from $487,500 in Q1 of 2017 to $675,000 in 2018. Only two sales over $2 million occurred, and both were located in Orient.

Overall, all the North Fork markets combined saw an 11 percent increase in Home Sales, 19.5 percent jump in Total Home Sales Volume and 19 percent soar in Median Home Sales Price. Lack of inventory caused sales under $500,000 to drop 22.50 percent - from 40 to 31.

"As one can see from the report, homes under $500,000 are becoming quite scarce," Desiderio added.


Nicole is the Editor-in-Chief of Hamptons.com where she focuses on lifestyle, nightlife, and mixology. She grew up in the Hamptons and currently resides in Water Mill. www.hamptons.com NicoleBarylski NicoleBarylski




Related Articles:

Be the first to comment on this article. (Just fill out the form below)
 

Submit Your Comment

Please note, you are not currently logged in. Your comment will be submitted as a guest.
To submit your comment as a member, please click here.
Your Name:
Location:*
Comments:*
* Comments will be reviewed and posted in a timely fashion
* All fields are required
Question:*
What color is the sky?
(For spam prevention, thanks)
 
 
 
http://www.hamptons.com/gallery/ads/2131.gif
http://www.hamptons.com/gallery/ads/1213.gif
http://www.hamptons.com/gallery/ads/2003.gif
http://www.hamptons.com/gallery/ads/2150.gif
East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!

Hamptons Carpet One Floor & Home
We pay less,and so do you.With over 1,000 stores in our buying group, we can get the lowest prices from the best flooring manufacturers — and pass the savings on to you.Visit our other locations: Hamptons Carpet One Floor & Home, 675 North Sea Road,Southampton, NY 11968

Southampton Masonry-Visiting the Southampton or the Wainscott locations is an exciting experience.
Southampton Masonry has been serving Long Island's masonry and tile needs since 1975. Delivering quality products from Manhattan to Montauk for over three decades. The company's continued success is due primarily to their number one priority: customer satisfaction, with a promise of prompt and courteous service from the professional, knowledgeable staff. Southampton Masonry has the largest inventory on the east end. As direct importers they can offer a large variety of the finest quality products at the most competitive pricing for both your interior and exterior projects.

CP Complete- Landscape Design & Construction
Paul Guillo And Chris Hall Two Of The Most Respected Names In The Community Together, they are partners in CP Complete. They bring their years of experience and integrity to creating and renovating luxury backyards.

D+J Concepts is known for a high-end cutting edge approach to design.
D+J Concepts is known for a high-end cutting edge approach to design with a balance between functionality and imagination. We skillfully and tastefully transform ordinary spaces into classic modern styles, which are understated, and luxe. We’re known for our modern transitional style incorporating antiques and modern elements for an unexpected edge.

Hamptons luxury real estate specialist for 33 years, Andrea Ackerman offers outstanding expertise in the field.
Hamptons luxury real estate specialist for 33 years, Andrea Ackerman offers outstanding expertise in the field. Trusted, experienced and successful, Andrea has solidified herself as the go-to broker of the Hamptons and a wholehearted advocate for her clients. A pioneer in the real estate industry on the East End of Long Island, she is driven by her passion for the business. Andrea is based in the Bridgehampton office of Brown Harris Stevens as a licensed real estate associate broker and consultant. Formerly, a principal partner and Senior Director at Brown Harris Stevens, Andrea now assists in developing their corporate strategy for the Hamptons region, advising other brokers and sales associates, as well as being one of the top producers and listors.