North fork, Long Island Home Sales- May 2010

June 1st, 2010 category: Real Estate News

Maria AnderssonThere are reliable spring indicators  on the North fork of Long Island- from the emergence of my  bed of daisies, to the presence of the bathing gear -clad set who slowly fill up the local beaches with bright umbrellas and children kicking sand all the way to the water, thrilled to try out the latest neon colored aquatic toys. An increase in home sales, from Riverhead to Orient, has also been an anticipated event.

April was an improved month over March, and such upward motion bred the hope that perhaps we’d hit a comfortable higher ground in terms of volume. Spring is the “season”, as many hope to finalize second home purchases for a summer spent on the North fork. Equally present east end, LI home buyers are locals who, having witnessed the significant uptick in housing prices, are now viewing realistic offerings that fit their budgets (and more so, their sense of what reasonable really is). Their appearance made for a strong April 2010 over 2009.

As most paid attention to the tax credit that expired at the end of April, the hope was that such an incentive wasn’t a band aid for a larger problem, but an incentive for many who may well have purchased either way- just, perhaps, an ice breaker- the precursor to whatever normalcy we can now come to expect.

May figures for under contract properties took a dip. From Riverhead to Orient, the total number of under contract properties reported to MLSLI for May, 2009 totaled 37. For May of 2010, that figure was 25. 

It will be interesting to see how we fare in June for homes under contract on the North fork.

The North fork, unlike its Hamptons counterpart, has not had the drama (and, we like it that way) of astronomical heights in pricing- followed by a disturbing lull, such as was found in 2009 throughout the Hamptons venue. Rather, the North fork (Riverhead, Jamesport, S. Jamesport, Baiting Hollow, Calverton, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, Orient, and Orient Point) has appeared to weather the market with consistency. While values have experienced a decline from peak suggestive of the economy, sellers responded accordingly, appealing to buyers anxious for value, along with the tax credit opportunity.

The following are town by town homes under contract for May, 2010:

UNDER CONTRACT REPORTED, MAY 2010:

Aquebogue, NY: 3      lot 3 cedar cove: $384,990,  28 Pine ave: $660,000,  267 Peconic Bay Blvd: $1,494,876                                                           **list- not sold pricing for all towns/villages. Multi List Service of Long Island**                                 

Baiting Hollow, NY: 2   54 beach hill, $159,999;  2011 Sound ave: $328,888                                                                                                                 

Calverton, NY: 2   36 Gerald St, $229,900;  259 Parkway Drive: $249,000

Cutchogue, NY: 1  710 Old Menhaden Rd., $719,000

East Marion, NY: 1  170 Manor Rd., $429,000

Greenport, NY: 2  1300 7th St. $249,900; 411 4th St. $539,000

Jamesport, NY: 1  86 Smugglers Path $499,000

Laurel, NY: 1  20 S. Oakwood Dr. $625,000

Mattituck, NY: 2  2705 Laurel Way $445,000; 145 Meday Ave $499,000

Orient, NY: 1  1925 Grandview Dr. $989,000

Riverhead, NY: 6  560 Raynor, $119,900;  799 Harrison Ave., $159,000;  613 Roanoke Ave $270,000; 162 Kings Dr., $299,900; Lot 8 Honey ln. $419,000; 9 Plover ct. $445,000

Southold, NY: 3  25 Lighthouse Rd. $729,000; 1035 Calves neck Rd. $1.199.000

HOMES SOLD/CLOSED REPORTED, MAY 2010:

FOR COMPARITIVE PURPOSES, 2010 FIGURES FOR MAY NEARLY  EQUAL THOSE REPORTED IN 2009.

2009: 34 CLOSED HOMES

2010: 32 CLOSED HOMES

Aquebogue, NY: 2  89 Josica Ct. $352,980; 77 Fox trail ct. $380,000                                                                                                                                    **figures represent reported SOLD pricing

Baiting Hollow, NY: 3  54 Beach Hill $159,000;  152 Baywood Drive $370,000; Lot 8 Donna Dr. $420,490

Cutchogue, NY: 3  910 Old Saddle Ln. $439,999; 840 Manor Hill Lane $730,000   

Greenport, NY: 3  717 Front St. $290,000; 317 South St. $300,000; 432 1st St. $485,000

Jamesport, NY: 4  251 Washington Ave. $295,000; 224 Washington Ave. $345,000; 73 Timothy Lane $352,500; 86 Smugglers Path $450,000

Mattituck, NY: 3  4105 Wickham Ave $625,000; 1080 Deep Hole Rd. $749,000; 895 Holbrook Ln. $845,750 

Orient, NY: 3  920 Cedar Birch Ln. $699,000; 55 Southview Dr. $720,000

Riverhead, NY: 4  324 Raynor Ave. $160,000; 1108 Delores Ave. $171,300; 73 Ellen St. $250,000; 25 Louise Ct. $464,000

S. Jamesport, NY: 1  120 Green St. $210,000

Southold, NY: 6  830 Eds Rd. $350,000; 145 Budds Pond Rd. $342,000; 1980 Nakomis Rd. $447,500; 2155 Jockey Creek Dr. $455,000; 1035 Calves neck Rd. $970,000; 1350 Paradise Point Rd. $2,400,000

Homes under contract/sold represent single family detached- cottages to estates. This report does not include condominiums, townhomes or mobile homes.

If you are looking to sell or buy a home on the East end (North fork, Hamptons) of Long Island, current market data will assist in establishing value. We are members of MLSLI, with all reported data (days on market, closed figures) awaiting your review. Call us if you’d like to sell your home; click here to view available homes on the East end of Long Island.

Options Realty: 631-727-2227

Email: Stark@optionsrealty.com

             Laurie@optionsrealty.com

If you’d like to see ALL reported closed sales, go to www.mlsli.com, click on “sold” properties, choose your town, and a map will appear. To locate pricing, click on the mapped properties. It’s that easy!

For your convenience, we’ll be adding that feature to our site soon- stay tuned!

This entry was posted on Tuesday, June 1st, 2010 at 10:10 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.

Leave a Reply

Copyright © 2007 North Fork, Long Island, NY Real Estate Blog OptionsRealty.com     Agent Login     Design by Real Estate Tomato     Powered by Tomato Blogs