Home Sales North Fork 2nd Quarter 2010

July 6th, 2010 category: Real Estate News

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.

This entry was posted on Tuesday, July 6th, 2010 at 8:44 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.

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