Since the winter of 2013 I’ve been saying 2014 will be the year of the North Fork and yes it has been like a snowball rolling downhill, building in size and momentum.
All 4 markets monitored by TOWN & COUNTRY REAL ESTATE rose in all 3 criteria – Number of Home Sales, Total Home Sales Volume and Median Home Sales Price.
In fact, 2 markets more than doubled in Home Sales activity or the Number of Home Sales transferred
Orient (which includes East Marion and Greenport) statistically realized the greatest gain with a 183% leap from 12 Home Sales in 3rd Quarter 2013 to 34 in 2014 same quarter.
In Mattituck (which includes Laurel and Cutchogue) the Total Home Sales Volume shot up 266% from nearly $6M in 2013 to almost $22M in Home Sales year to year 3rd Quarter. In Southold (which includes New Suffolk and Peconic) the Total Home Sales Volume saw the highest dollar value with $29M changing hands.
Mattituck (which includes Laurel and Cutchogue) also logged the greatest increase in Median Home Sales Price at 47% from $347,500 in 2013 to $510,000 in 2014 3rd Quarter. With 38 Home Sales in 3rd Quarter in Mattituck and a Median Home Sales Price of $510,000, the trajectory for Mattituck and the North Fork markets is up, up, up!
Viewing All North Fork Markets Combined, the future is even more clear as all 3 criteria and all 6 price ranges monitored by TOWN & COUNTRY are firmly in the BLACK!