Town & Country’s Year End North Fork Home Sales Report is of no surprise to anyone in the real estate business on the North Fork.
The top producer on the North Fork was Orient (which includes East Marion and Greenport) with all 3 criteria monitored by Town & Country realizing increases: number of Home Sales rose 2.8% from 72 to 74 2010 to 2011, Total Sales Volume increased nearly 7% from $36.8M to $39.3M, and the Median Home Sale Price showed approximately a 5% rise from $410,000 in 2010 to $430,000 in 2011. The number of Home Sales in the $1-$1.99M category in Orient (which includes East Marion and Greenport) doubled year over year.
Southold (which includes New Suffolk and Peconic), on the other hand, closed the year a bit lower than the previous year in all three categories. The number of home sales dropped 8.6%; Total Home Sales Volume was down 16.6% and Median Home Sale Prices rolled back to $440,000 from $472,500. But it’s important to point out that Southold (which includes New Suffolk and Peconic) posted the highest Median Home Sale Prices of all 4 North Fork markets Town & Country reports on 6 times a year.
Reviewing the culmination of All North Fork Markets Combined and one statistic jumps out at you…the $1-$1.99M price category rose 19% in 2011 from 2010.
Bottom line – North Fork Home Sales activity was fairly flat for the year 2011 but the green shoots are showing up on the high end.
Judi A. Desiderio, CEO
*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.