What to expect when you're shopping in New Yorkers' favorite beach getaways -- the Hamptons and the North Fork
According to the new market reports out this week from Douglas Elliman, the Hamptons real estate market is seeing an uptick in activity (22 percent over last year), with the first two quarters of 2017 showing an increase in sales (despite inventory slipping, for the eighth consecutive quarter, by 4 percent). The average price in the tony area forever popular with New Yorkers looking for beachy escapes is $1,898,934, or a 12.7 percent increase over last year.
And in the North Fork, which has consistently been a lower-key (and less expensive), alternative to the Hamptons, the number of sales rose for the fourth time in five quarters, and inventory declined as prices crept up slightly closer to Hamptons levels. Average sales prices there increased 4.6% year over year to $726,350.
Wondering what you could get for those average prices in each of the locations? Take a read below:
Southold:This three-bedroom, two-bath home with a den has an in-ground pool and beach access. Asking price: $735,000
Mattituck: This three-bedroom, two-bath ranch house stands on two acres down a private road, and has a swimming pool. Asking price: $749,000
Greenport: There's plenty of room to build a pool on the property of this three-bedroom, two-bath cape-style house with a fireplace inside and outdoor shower outside. Asking price: $699,000
Sag Harbor: If modern architecture is your thing, you'll be hard-pressed to beat this four-bedroom, three-and-a-half bath house a mile outside the village of Sag Harbor. Asking price: $1.85 million
Water Mill: While this two-bedroom shingled cottage may be modest by Hamptons standards, it stands on a whopping eight acres of land, offering endless opportunities for expansion. Asking price: $1.895 million.
Southampton: This four-bedroom, five-bath house is traditional Hamptons style, with a rec room, a pool and a patio to boot. Asking price: $1.895 million.
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