"The last three months of 2016 were filled with fits and starts for North Fork real estate markets," explained Judi A. Desiderio, Town & Country
Real Estate Chief Executive Officer, in the firm's North Fork 4Q 2016 Home Sales Report. "Half the individual markets monitored by Town & Country experienced increases in the number of home sales."
Mattituck (which covers Laurel and Cutchogue) had a red hot end of the year with a 45 percent increase in number of home sales and monstrous 65 percent surge in total home sales volume.
While Southold (which includes New Suffolk and Peconic) finished off the year on a sour note thanks to a 49 percent drop in the number of homes sales and 40 percent decrease in total home sales volume.
"One key statistic to note, is the median homes sales price rose in nearly every market," noted Desiderio. "This is a clear indicator that prices are on the rise."
Overall, 2016 was a positive year for North Fork home sales. "Every North Fork market realized an increase in the median home sales price, with Southold (which includes New Suffolk and Peconic) raising nearly 7 percent year to year," noted Desiderio in Town & Country's North Fork Year End 2016 Home Sales Report. "Mattituck (which includes Laurel and Cutchogue) had increases across the board, with +6.5 percent in number of home sales, +15 percent total home sales volume and +4.6 percent in median homes sales price."
The luxury market saw double the sales from 2016 from 2015 in the $2 to 3.49 million price range.
Home sales increased by 16.5 percent in Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) and 6.43 percent in the combined North Fork markets - from 529 in 2015 to 563 in 2016.
"Looking at all North Fork markets combined and it becomes evident the North Fork real estate markets are in expansion mode," said Desiderio. "To further the euphoria, 2017 has opened with heightened activity at all eight Town & Country offices!"
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
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