Spring Home Sales on the North Fork and East End of Long Island

April 15th, 2009 category: Real Estate News

spring 08 Not unlike the welcomed surprise of the first green thing in my garden, home sales on the North fork are popping up. While less substantive than last year at this time, signs of life are emerging. Here’s a recent look at MLSLI* numbers for the North fork of Long Island.

Homes sales (under contract reported sales, not closed) from April 1 through April 15, 2009: 18

The median listed price was $385,750.00.

Most active was Southold (4) followed by Cutchogue and Baiting Hollow (3 each).
I refrain from listing days on market due to the number of properties that get refreshed.

Home sales (under contract reported sales) from April 1 through April 15, 2008: 26

The median listed price was $399,450.00. The median sold was $370,000.00

Most active was Riverhead (11) followed by Southold (4) and Cutchogue/Baiting Hollow (2 each).

While certainly a drop in volume, encouraging is the fact that the sales reported are growing daily. The market is tentative, but there do appear to be good reasons to hold out hope that buyers will find the affordability that they seek with sellers understanding the trends.

Tightened lending restrictions have shrunk the buyer pool- and some that are buying are doing so under far more strict guidelines.

Statistics support the reality that an uptick in pricing is not a realistic expectation for the short term, and by some accounts, the long term. Whether buying or selling in this market, awareness is key.

Still, it’s hard not to imagine at least looking out this way when spring hits- it’s really something else on the East end of Long Island!
*information obtained from the MULTIPLE LISTING SERVICE OF LONG ISLAND. While deemed reliable, no guarantees!

To search available homes for sale on the North Fork / East End Long Island or condos on the North Fork of Long Island, click “north fork homes”, enter your area of interest and any parameters, and click “go”- properties for sale include Riverhead, Aquebogue, Baiting Hollow, Calverton, Jamesport, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, Orient, Orient Point, Westhampton Beach, Hampton Bays, Flanders, Southampton, Sag Harbor, East Hampton, NY.

To get more specific local North Fork or East End & Hamptons real estate information, fill out the form below with your questions/comments. We know how to find properties coming on the market, and available. If you’re looking for a foreclosure on any part of Long Island, we’ll help you find it.

This entry was posted on Wednesday, April 15th, 2009 at 10:46 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.