For North Fork owners with properties on the market, the past 12 months have been good. Very well.
This is in part due to low inventory levels in the third quarter, which resulted in high selling prices year over year. The average selling price increased 20.6%, according to the Brown Harris Stevens 3Q21 Hamptons Market Report. Some areas have seen particularly high jumps. At Jamesport, the average sale price rose to $ 759,233, from $ 407,188. At Mattituck it went from $ 695,484 to $ 1,132,272 and from $ 694,401 to ($ 1,102,723 at Southold.
Demand has been strong at almost all price points. According to Second Quarter 2021 Brown Harris Stevens Hamptons Market Report. The> $ 500,000 – $ 750,000 category recorded the most transactions, reaching 26% of all sales in Q2 2021. The above $ 2 million + category saw the largest on-year increase annual, going from 3 in 2Q20 to 13 in 2Q21.
Numbers like these are important to local realtors, of course, but so are the personal relationships they have with their clients and the time spent advising them on potential purchases and sales.
“I had the pleasure of representing a lovely family last spring and their beautiful home,” says Diane mollica, real estate seller, Daniel Gale Sotheby’s International Realty, from its sale of $ 3,399,999. “The House was set on five sprawling acres on the Long Island Strait, along a private driveway that leads to a suspenseful long driveway lined with giant cedars. At the end you come across a wonderful cedar shingle house. The house had stunning views, a master suite to die for, and beautiful grounds. This is my favorite property of 2021.
The tight market was also factored into some agents’ more memorable sales.
“My favorite sale of 2021 was a real pandemic saga”, says Marianne collins, Certified Real Estate Salesperson, Brown Harris Stevens. “I started working with my clients first as tenants on one of my vacation rental listings. They stayed until 2020 and beyond and we began the search for their home in North Fork. “
Collins says the buyers made an offer and lost several properties, “all with patience and good humor. Ultimately, a 1970 Contemporary Nassau Point was the charm. It has perfect styling with updated kitchens and bathrooms, spaces for working from home including a separate studio, and proximity to bay beaches, and for walking the soon-to-be-adopted puppy. We were able to meet sellers’ timing needs and traded them down 5.5% below demand from $ 1,227,000, a rarity in such a competitive market. It was a long process, but such a pleasure to see the most charming clients finally enjoying their new home.
Some agents have helped their long-time clients take advantage of the dynamic market.
“I had the opportunity to work with many families in 2021 who were looking to change their lives,” said Thomas mccloskey, Chartered Real Estate Broker, Douglas Elliman. My favorite transaction was the sale of 25 Eastside Avenue at Mattituck. I had known the vendors for five years. After a conversation about market conditions and prices, they decided to sell. After following all of my suggestions for a pricing strategy, marketing plan and market preparation, they received a full price offer of $ 1,700,000 with no contingencies in seven days. I can’t wait to hear about their travels around the world.
For others, the uniqueness of a property makes it memorable during an exceptional year.
“My favorite sale of 2021 was a hidden gem on the North Fork in Mattituck at 1505 Naugles promenade, which sold for $ 4,250,000, ”says Susan orioli, Owner and Certified Real Estate Broker, NoFo Real Estate. “The unique setting of this house has impressed me every time I have shown it. Perched above the cove, with stunning views of the sound and incredible sunsets, there was also always a sense of tranquility watching the boats go by. With an uninterrupted selling season in 2021, this house mostly gave me calm every time I showed it, which I could tell buyers instantly felt as well.
Donielle Cardinale, associate real estate broker, Daniel Gale Sotheby’s International Realty, can identify himself. Her most memorable home also boasts stunning water views, and the sale was very personal to her.
“I was fortunate to have had a wonderful 2021, working with so many fabulous clients. Everyone has their own story on the journey to find or abandon their home in North Fork. Every time I complete another transaction, it means a new chapter begins for both buyer and seller. One of my favorite deals this year was 1780 Jackson Street in New Suffolk.
“The vendors are a highly respected local lawyer and his wife, who works alongside him in their office. Salespeople are in a position where they work with so many local brokers and agents on a daily basis. I feel incredibly honored to have been chosen to represent them in the sale of their home. Mainly because it is such a special house as 1780 Jackson Street. The view and location is certainly one of the most spectacular in North Fork, overlooking the bay all the way to Robin’s Island.
“The buyers were people with whom I have corresponded for many years and with whom I share mutual friends, but who had not had the chance to meet them in person until they called me to visit this house. It was so much fun to finally meet them. Mainly because as soon as they visited the property it was so clear that this house and this family fit together perfectly.
“It’s so rewarding to connect an amazing family with a home that suits them so well and to see my client and my client both feel elated at the end of the transaction. Helping to create that happiness for the people for whom and with whom I work is what I love about what I do.