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:
* Comments will be reviewed and posted in a timely fashion
* All fields are required
Please type the word 'water'
(For spam prevention, thanks)
East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!

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.

Southrifty Drug 54 Jagger Lane, Southampton Village
Southrifty Drug is a small, neighborhood pharmacy with limited shelf space, and we have to be very selective about which over-the-counter items we carry. As a result you'll find a no nonsense concentration of very effective, high quality and useful products on our shelves. In this new section, we feature a number of these products that we feel are especially worthy of your consideration.

New York Title Abstract Services, Inc.
We are a title insurance services company dedicated to promptly delivering fully compliant and accurate reports, and title insurance, for residential and commercial real estate throughout New York State. Headquartered in the Hamptons, our professional team has extensive real estate experience and understands the business from all sides including title insurance, legal, sales, governmental, banking, and lending regulations.

Aimee Fitzpatrick Martin, Licensed Associate Real Estate Broker
Considered a West of the Shinnecock Canal expert with a 5-star Zillow ranking, Aimee specializes in the luxury and waterfront markets in Quogue, Westhampton Beach, Remsenburg, East Quogue and Hampton Bays. With exceptional communication skills and a buttoned-up approach to every deal, she is highly skilled in the art of the negotiation process. Understanding the nuances of buying and selling waterfront homes, especially on Dune Road, is a specialty.

Hamilton Hoge
As the owner’s representative our practice encompasses all aspects of a project from pre-purchase property due diligence, program development iterations, advisement on systems, analyze contracts/vendors, critical path analysis, feasibility and schedule. The strength of our approach is in facilitating organized communication. We strongly analyze all representations and warranties for the protection and benefit of our client.

The Citarella Standard. We’re passionate about sourcing and selling the world’s best seafood. When you order our fresh seafood online, what you receive always reflects the unrivaled standard of our markets. It’s hand-prepared, never frozen, and shipped overnight. 631-283-6600.