North Fork 4th Quarter 2011 Home Sales Report

January 17th, 2012 - by Judi Desiderio
Filed under: Cutchogue, East End, Greenport, Home Sales Reports, market conditions, Mattituck, New Suffolk, Orient, Real Estate, Riverhead, Shelter Island, Southold, town & country real estate

 

TOWN & COUNTRY’S  4th Quarter Homes Sales Report for the North Fork demonstrates a strengthening in 3 of the 4 markets we monitor.

Southold (which includes New Suffolk and Peconic) was clearly the star performer, with black clear across the board.  In Southold (which includes New Suffolk and Peconic), the Total Sales Volume nearly doubled from $9.8M in 4th Quarter 2010 to $19.5M in 4th Quarter 2011.  Furthermore, the Number of Home Sales rose over 30% from 23 to 30 and the Median Home Sales Price up 33% from $365,000 to $485,800.  A further look at the six price categories monitored by Town & Country tells the tale with 5 sales over $1M during 4th Quarter 2011 and zero in the same quarter the year prior.

The Eastern tip of the North Fork or Orient Market (which includes East Marion and Greenport) had a strong 4th Quarter in 2011 with a 23.5% increase in the Number of Home Sales, from 17 in 2010 to 21 in 2011 and a 35% increase in Total Home Sales Volume from $8.3M to $11.2M year to year.  There was a slight decrease in the Median Home Sales Price though from $495 to $415, 4th Quarter 2010 and 4th Quarter 2011.  

The Western End of the North Fork did not perform as well as the East – Mattituck (which includes Laurel and Cutchogue) saw decreases in all three criteria monitored by Town & Country, but not by much.

Looking at all North Fork Markets Combined and you see what the late fall, early winter home sales activity was.  The Number of Homes Sales grew 8.54% and the Total Homes Sales Volume increased 23.8%.  The Median Home Sales Price was flat with a slight 4.6% drop from $440 to $420.

The one eye opener is the price category of $1-1.99M which shot up 350% from 2 sales in 2010 to 9 in 2011 4th Quarter.  The North Fork high end is picking up momentum.

 

To view more specifics on your particular locations visit www.1TownandCountry.com/reports.

 

Judi A. Desiderio, CEO

jd@1TownandCountry.com •  631-324-8080

*Source: The Long Island Real Estate Report

**All information is deemed reliable and correct.  Information is subject to errors, omissions and  withdrawal without prior notice.




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