Archive for August, 2010

North Fork, LI Under Contract July 2010

August 26th, 2010 category: Real Estate NewsNo Comments »

The following figures  (homes reported under contract) were obtained from MLSLI, and are reported under contract homes on the North fork/east end of Long Island for July, 2010. The towns included are Aquebogue, Baiting Hollow, Calverton, Cutchogue, East Marion, Greenport, Jamesport, S. Jamesport, Laurel, Mattituck, Peconic, Orient, Orient Point, Riverhead, and Southold, New York.
 
For 2010, the total reported homes for sale that went under contract on the North fork are as follows:

Total under contract: 34
Median Listing price: $412,450.
Median Original price: $427,495
 
Southold, NY homes for sale converted to under contract lead the pack, with a total of 8, followed by Riverhead, NY- 7, and Mattituck, NY, 3.
 
For comparative purposes, the 2009 figures are as follows:
Total under contract in July, 2009: 38
Median Listing price: $434,000.
Median Original price: $ 442,000

Because these properties closed, the reported closed price median was $395,000 in 2009.
 
It will be interesting to see what the reported sold pricing was for 2010, however important to note is that each village has its own unique characteristic, so can vary significantly from a neighboring town.
Worth noting is that when figures for SOLD properties in the same locations were pulled, the presence of higher end closed properties on the North fork provided an increased figure for the median sold pricing over 2009.

SOLD HOMES, JULY 2010:37
MEDIAN CLOSED PRICING: $489,000
SOLD HOMES JULY 2009: 37
MEDIAN CLOSED PRICING: $350,000
 
This data is skewed by a few elements, including a high end property reported twice.
The return to the market of those seeking properties in the one million plus range is encouraging, however for anyone seeking a home on the North fork of Long Island, reviewing specific transactions in your price point of interest will provide the best way to establish market trends.

To view North fork/Hamptons/East end, Long Island homes for sale, click here.
To view North fork/Hamptons/East end REO-BANK OWNED-FORECLOSURE homes, click here.
 
iphone-pictures-377Watch soon for August data. I had the pleasure of time “off” to visit my daughter, and her newest addition.  Amazing how busy a two year old, and newborn, keep both their mom, and their Gramma, who had an absolutely wonderful (albeit a bit exhausting) trip!  August 2010 figures will be published in the first week of August…is summer really nearly over?

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