Median prices climbed 5.8% year over year to $999,999, the third-highest level on record, according to data from Housing Notes, compiled by Jonathan Miller, president and CEO of the real estate appraisal firm Miller Samuel, while inventory edged up a modest 2.6%. At the same time, sales dropped sharply, down 21% from last year. That disconnect may have less to do with market fundamentals and more to do with external forces, Miller advised.
“Both the North Fork and the Hamptons saw a high reduction in sales, and that reduction across both locations was the commonality,” he said. “That tells me the weather played an unusually large role in the market.” Still, momentum appears to be building beneath the surface.
“It was busy in the winter,” said Sheri Winter Parker, a broker with the Corcoran Group. “People were thinking about their lifestyle rather than timing the market.”
Looking ahead, brokers point to intensifying demand and constrained supply as key themes.
Represented by Sheri Winter Parker of Corcoran
“As the year progresses, we’re going to see more and more homes on the North Fork trading well over $5 million,” said Judi Desiderio, managing partner of the Hamptons and North Fork for William Raveis. “I’ve always believed in the appreciation value of the North Fork, and only recently has it started to hit its stride,” she said. “But there’s so little inventory because so much of that fork has already been preserved. There’s no land to build houses.”
The Whole Fork
If there’s a single theme emerging across the North Fork right now, it’s that no one town is dominating the spotlight—buyers are casting a wide net and finding different kinds of value depending on their priorities.
“Every single town on the North Fork is busy and people want them for all different reasons,” said Winter Parker. “I have people who want Riverhead because it’s closer in and out of the city and there are so many gorgeous beaches,” she said. “But people are seeing true value all the way out East.”
Still, some say a few areas stand out. “I see real opportunity in Greenport right now,” said Kristy Naddell, a broker with Douglas Elliman. “The village is in a period of transition, with a noticeable number of vacant storefronts, but I believe that is temporary,” she explained. “This could be an excellent moment to invest before the next wave of businesses comes in and the village strengthens further.”
Naddell also points to South Jamesport and Aquebogue as under-the-radar plays, noting they are “still somewhat undervalued relative to other nearby markets.”
Represented by Kristy Naddell of Douglas Elliman
Further east, lifestyle and relative affordability continue to draw attention. “East Marion offers great value and a unique charm that’s hard to resist,” Diane Mollica of The Gambino Group at Compass advised. She cited its beaches, lower taxes and proximity to Greenport.
Nearby Southold, she added, “offers the perfect balance of energy and serenity.” The township has “a lively downtown with great restaurants and excellent walkability, all while maintaining a peaceful, welcoming atmosphere,” Mollica said.
What’s In The Pipeline
As the North Fork heads into its busiest season, agents are broadly aligned: expect a competitive summer shaped by steady demand and limited supply.
“Being within a two-hour drive of the city, the Jersey Shore, the Hamptons, the Hudson Valley, they’re all going to do very well this year,” predicted Desiderio, who has the 88-acre Oregon Close Estates in Cutchogue listed for $23 million.
“The average Wall Street bonus was $250,000 last year, so what are you going to do with that money?” she asked — with a chuckle. “Hopefully you’re going to do something smart and buy something like real estate.”
Represented by Judi Desiderio of William Raveis
Pricing is inching up, but properties are holding their values, indicating a normalization rather than a retreat, added Winter Parker. She highlighted a waterfront property with a private dock at 1940 Mason Drive in Cutchogue, which is on the market for $4.25 million, as a favorite listing so far this year.
“Every aspect of the North Fork market I’m seeing is performing well — waterfront, anything with a view, anything with outdoor living space, anything with potential,” she said.
Naddell pointed to 2455 New Suffolk Avenue, a 1920s five-bed, five-bath on Maratooka Lake in Mattituck that sold for just over $2 million in January. It’s a standout deal demonstrating how relationships are cultivated in a community like the North Fork, she said. “I originally sold the home to these owners in 2022, and over the years they became great friends of mine,” Naddell said. “Being able to help them again as they moved on to the next chapter of their lives was incredibly meaningful.”
Due Diligence
As the North Fork moves into summer, agents say success in this market will hinge less on timing and more on preparation — on both sides of the deal.
“In this type of market, having a knowledgeable buyer’s agent is incredibly important,” Naddell said. “Buyers need someone who can advocate for them, guide them on pricing and strategy, identify value and protect their interests throughout the transaction.”
For sellers, presentation matters just as much as preparation, agents said. “Curb appeal is one of the most important things,” says Winter Parker. “Make it feel inviting.” Inside, “fresh flowers do really work, she added. “Who doesn’t smile when they look at flowers?”
For buyers, groundwork is just as critical, Mollica said. “Take the first step by visiting the area and connecting with a seasoned, reputable agent,” she said. “Make sure your finances are in order … and set a realistic budget.”
