Zoning laws, a limited stock, inflation, and high demand have caused a housing shortage, as remote workers relocated for lower taxes and lifestyle. But, are the good times about to pop?
This summer has been glorious – sunny, hot days filled with all the summer fun the NOFO has to offer. The question on many people’s minds: “What’s next for the North Fork real estate market?”
Douglas Elliman reported that the median sales price on the North Fork surged 86 percent between 2012 and 2021.
The market is cooling, but that’s a function of supply, which has been almost completely eaten away by almost two years of record activity in response to the pandemic.
As the dearth of listing inventory persists for the North Fork real estate market, prices continue to drive higher as demand outstrips supply.
As this crazy year winds down with lifting pandemic restrictions, the real estate market on the North Fork remains strong.
Though the two were quarantined away from each other for a year, the relationship between New York and Southern Florida is thriving.
Simply put: sales are falling because of a lack of inventory. Well, good inventory at the right price point in the right zip codes.
It may be a new year, but the frenzy North Fork real estate agents began feeling in March 2020 has not let up. Nearly a year later, they have settled into a new groove amid restrictions and have been able to navigate the drastic changes within the market effectively….
Throughout the course of the pandemic, the North Fork real estate market saw a swell of interest early in the season with buyers and renters looking…