First-quarter market reports are out for Long Island, and on the North Fork (that decidedly less scene-y Long Island vacation spot popular with New Yorkers), the number of homes available for sale has fallen, according to the latest Douglas Elliman market reports. In fact, listing inventory dropped by 26.8 percent during the first quarter of 2017.
The median sales price slipped 5.5 percent to $519,500, but the average sales price jumped 23.7 percent to $857,396, reflecting the fact that there were more high-end sales but less market wide activity as a whole (FYI, in the Hamptons, the average sales price declined 8.9 percent to $1,724,337).
The area average hovers around $850,000, just slightly above the asking price—$829,000—of this three-bedroom, two-bath house in Cutchogue.
The house, which is situated in the heart of agricultural North Fork and just saw a price decrease of $16,000 since hitting the market at the start of the year, is a classic Cape; it's in the Country Club estate section of Cutchogue, close to New Suffolk Beach, town and vineyards.
The first floor looks open and airy, yet charming and cozy at the same time, with a living room, dining room, eat-in kitchen, office, and a sunroom/den, plus a full bathroom. As an added bonus, there are two fireplaces—one in the sunroom and one in the living room.
The second floor has three bedrooms and a full bathroom, and the third floor is an attic.
The outdoor space includes a manicured lawn, a deck and an in-ground pool, looks just perfect for lazy summer days.
Cutchogue is one of 10 hamlets in the town of Southold, and is about two hours' drive from Manhattan. You can also take the LIRR to Mattituck or the Jitney, both of which take about two-and-a-half hours.
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