North Fork Home Sales Jump in 2017 Fourth Quarter

By Laura Euler

3 minute 02/05/2018

The Estate at Royalton Farms in Mattituck is available for $32 million, Photo: Courtesy of Town

The fourth quarter of 2017 produced strong sales in the Hamptons, but the North Fork also put in a very solid three months, according to a report put out by Town & Country. Judi Desiderio, president of Town & Country, comments: “The North Fork markets are just beginning to hit their stride! With millennials jumping into home ownership, the price points are very manageable and the quality of life is wonderful. I predict we’ll see prices increase at a healthy, steady pace. Good inventory remains at historically low levels.” The number of home sales was up nearly 20% on the North Fork, from 92 to 110 compared to the same quarter in 2016, and total home sales volume (the price of all home sales combined) up 13% to $69,635,970.

That said, the total median home sales price for the quarter was $531,500, less than 1% higher than 2016 same quarter. The greatest statistical jump was in the price range between $1 million and $2 million, which was 71.4% higher compared year over year (going from seven sales in 2016 to 12 in 2017).

As for towns, Southold (which includes New Suffolk and Peconic) boasted 62% more in number of home sales and 54% greater total home sales volume year over year, while median home sales price remained relatively stable at $565,000. The Jamesport area (including Aquebogue, Baiting Hollow and South Jamesport) did well, with 42% more home sales, 42% more sales volume and the median home sales price up 23% at $475,000. Mattituck (which includes Laurel and Cutchogue) had the highest median home sales price of $595,000. Orient (including East Marion and Greenport) was the one laggard, with 13% fewer home sales and a 23% drop in sales volume (from $16,429,684 in Q4 2016 to $12,591,928 same quarter 2017).