Home sales are seesawing on the East End of Long Island.
While tony Southamptonites are watching home prices tumble, their low-key neighbors on the North Fork are seeing median prices rise more than 10% year over year to the third-highest on record, according to Douglas Elliman.
“The North Fork has been undervalued for years,” says Nicholas Planamento of Town & Country Real Estate. “Now, it’s hitting its stride, and everyone wants to participate in a North Fork lifestyle.”
He’s listing 4395 Hortons Lane in Southold, a charming farm with almost 32 acres of land — perfect for a new owner to keep horses or even launch a vineyard.
The traditional four-bedroom farmhouse has a wraparound front porch.
There are also barns on-site, plus roughly 40,000 blueberry bushes that produce bushels of berries each summer. It’s on the market asking $4 million.
On the bluffs looking over the Long Island Sound, 34 Waterview Court in Riverhead sold a decade ago for $1 million. Today, it’s asking just under $3 million.
With 2.5 acres situated on a small road sandwiched between a farm stand and a vineyard, the 4,100-square-foot, four-bedroom, four-bathroom house has a pool and pool house.
It’s listed with Frank Malagon of Town & Country Real Estate.
But drive out to the tip of the island for something really stately.
At 1790 Grandview Drive in Orient, a 3,900-square-foot, four-bedroom, three-bathroom house — which sits on a hill overlooking the Sound, just 25 steps above the water — is on market for $3.8 million in the Grandview Estates community.
“There were less than 20 luxury homes asking over $3 million on the North Fork, and eight sold in the last six months,” notes broker Rita Rooney of Douglas Elliman, who is working with colleague Paul Loeb on the Grandview Estates listing.
“It’s become obvious that buyers who would have previously been on the South Fork are migrating north. [It] has so much to offer with significantly lower prices and a lot less traffic — it’s totally been discovered.”
