Archive for July, 2010

Home Sales North Fork 2nd Quarter 2010

July 6th, 2010 category: Real Estate NewsNo Comments »

On the North fork of Long Island, home sales (closed, under contract) have shown improvement over 2009. It should be noted that such improvement is a surface level analysis, as gathered from MLSLI. Absent specifics on each property, identifying exactly what sold (getting more for your money is a likelihood, negating any suggestion that pricing is going up- rather, it may well be that activity has been spurred by getting more for the same dollar) the following is offered to assist in getting a read on things to come:

REPORTED HOMES CLOSED SECOND QUARTER (4/1/2009-6/30/2009) ON THE NORTH FORK OF LONG ISLAND*: 99
MEDIAN PRICE: 356,000.

REPORTED HOMES CLOSED  SECOND QUARTER (4/1/2010-6/30/2010) ON THE NORTH FORK OF LONG ISLAND: 140
MEDIAN PRICE: 394,500

UNDER CONTRACT STATISTICS FOR FIRST QUARTER HOME SALES, 2009: TOTAL 99
MEDIAN PRICE: 360,000.

UNDER CONTRACT STATISTICS FOR FIRST QUARTER HOME SALES, 2010: TOTAL 154
MEDIAN PRICE: 368,000.

Because each town/village has variances on the North fork, the following breaks down activity by location for 2010:

2010 pricing by town (# sold/median pricing) second quarter:

Aquebogue: 13 sold; $310k median price
Baiting Hollow: 9 sold; $370k median price
Calverton: 9 sold; $237k median price
Cutchogue: 7 sold; $590k median price
East marion:1 sold; $410k median price
Greenport: 10 sold;  $394,500k median price
Jamesport:8 sold; $397,500k median price
Laurel: 3 sold; $440k median price
Mattituck: 12 sold; $421k median price
New Suffolk:2 sold; $487,500 median price
Orient: 5 sold; $709,500k median price
Peconic: 1 sold; $380k median price
Riverhead:29 sold; $160k median price *includes mobile/manufactured homes
S. Jamesport: 3 sold; $394k median price
Southold: 28 sold; $451,250 median price

If you are looking for a home for sale on the north fork/east end of Long Island, relying on general data is difficult; narrowing down a specific  property and establishing pricing in a micro method is the best way to ascertain value.

If you are selling a home on the north fork/east end of Long Island, factoring specific data vs. general data will provide you with a realistic, fast selling opportunity.

To see available MLSLI homes for sale, please click here.
To see available REO/foreclosure homes for sale on the north fork and in the Hamptons, click here.

**data gathered from MLSLI. While deemed reliable, no guarantees. Towns included are identified in this report.

Cottage Retreat

July 6th, 2010 category: Buyers, North Fork NeighborhoodsNo Comments »

frontWe are fortunate to offer someone a truly captivating summer experience, located in Flanders, NY.

This lovingly maintained cottage offers a wonderful opportunity to leave bustle behind, embracing instead a lovely garden patio, with carefully located flowers and shade trees offering privacy, peace, and tranquility.

The bedroom offers sliding doors open to the garden, providing a light, bright retreat.

The bath has been completely updated with charming detail.

An eat in kitchen is open to a cozy living room.

To view this adorable cottage, please call Options Realty at 631-765-6221. This is a wonderful alternative to condo living- a low maintenance back yard, large garage with workspace, and in ground sprinklers offer benefits of convenience for those not yet ready to share walls, but seeking to simplify their space.

Priced at just $215,000., this 1 bedroom 1 bath single family retreat is beckoning.

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