After a brisk summer of sales, the real estate market on the North Fork continues to heat up. Properties in the $500K and under range are active, waterfront and farmland are hot, and vacant land is sought after. Prices are increasing, inventory is in short supply, and demand is strong. Autumn is a beautiful time to be on the North Fork and predictions are for an active fall selling season.
Judi Desiderio of Town & Country Real Estate says, “The North Fork real estate market is stronger than it has ever been. The 2017 season is just heating up as the fall or harvest season on the North Fork is like summer in the Hamptons! According to the Town & Country Home Sales reports, half of all sales occur under $500,000. Waterfront and farmland are hot. Prices are on the rise and will likely maintain this ascent as demand is strong. Inventory is very weak and we need more new construction of high quality as the demand is increasing.” Judi observes, “The fall is the height of the selling season here on the North Fork.”
Janet Markarian of Daniel Gale Sotheby’s International Realty says, “The summer was an active season with particular interest in waterfronts and vacant land. Inventory is steady. New construction appears active with a lot of interest in new, contemporary design. Vacant land is sought after, especially waterfront or water view with room for a pool. Buyers are coming from Brooklyn, Manhattan, and Europe. The North Fork has proven to be a solid investment with steady gains – it’s still a fantastic value.” Janet remarks, “The fall is a beautiful time of year and always a terrific time for sales. Buyers seem to get ‘back to business,’ with less distractions than peak summer.”
Victoria Germaise of Douglas Elliman Real Estate says, “Business was brisk this summer. I had lots of buyers interested in the million plus range and in the $500K and under. The midrange, $600K to $900K continued to be a slower-moving sector. Prices are stable but will be steadily increasing as inventory is slim. Buyers are coming from the five boroughs, Garden City, New Jersey, and abroad.” Victoria feels, “Autumn is even busier than summer on the North Fork. Families come out for pumpkins and apples and wonderful vineyard events, they fall in love with the unique atmosphere, and are inspired to own a getaway here. Autumn is a seductive season on the North Fork.”
Jerry Cibulski of Century 21 Albertson Realty says, “This summer was not hot outside and the cooler climate led to a HOT real estate market. We are in a strong seller’s market and that is a reflection of lower inventory and less days on market with a strong demand from confident North Fork homebuyers. Prices are increasing as the year progresses and are held in check by a well-educated homebuyer. With the confidence in the market, we have seen a strong increase in local homeowners as well as the Brooklyn, Gold Coast, and NYC buyers.” Jerry believes, “The fall season is fast approaching with new offerings coming to market. It is an exciting year for real estate on the North Fork!
Marianne Collins of Brown Harris Stevens says, “It’s been a busy summer on the North Fork with well-priced properties selling quickly. Lower and mid-range properties – under $600K to $1.5M are selling briskly. Waterfront is always sought after, as are in-village properties, and anything with unique character. Large land parcels are attracting interest from builders and investors. Prices are inching up, particularly at the lower end of the market. Our buyers are primarily coming from NYC as well as western Long Island and the South Fork. Fall is a beautiful time on the North Fork and barring any unforeseen circumstances,” Marianne predicts, “an active selling season, right up to the holidays.”
Marie Beninati of Beninati Associates says, “The North Fork was hoppin’ this season! All segments were moving – primarily due to the low inventory levels and the increasing popularity of the North Fork. High end, mid-point and lower end all sold this summer. Land is now perceived as a viable option to a home purchase. Prices are climbing and will continue to climb as long as the higher demand continues and the inventory stays low.” Marie reflects, “The fall and winter will continue to be good because there is such a high demand for property here. The weather is the only unpredictable factor that may affect the level of activity.”
Sheri Winter Clarry of The Corcoran Group says, “The North Fork sales this summer moved swiftly and they continue as we move into fall. At any price, bay and sound front properties are always in great demand. Prices continue to hold steady while the inventory of quality homes is always in short supply. The summer market has depleted many, but new properties continue to come to market. Buyers are coming from NYC, the South Fork, the West Coast, and from all over the globe!” Sheri exclaims, “The fall is a stunning time to be on the North Fork. Our season isn’t just summer months, the fall and winter have become a busy part of the selling season as well.”
Fall or harvest season is an exciting time to be on the North Fork. Go apple and pumpkin picking, enjoy the fall festivals at the many vineyards and farms, and delight in the glorious weather. With strong confidence in the real estate market on the North Fork, now is the time to make your move.