2019 Mid-Year Luxury Market Report

2 0 1 9 M I D -Y E A R

Luxury Market Report A N A N A LY S I S O F T H E L O N G I S L A N D A N D Q U E E N S L U X U R Y M A R K E T S

F E AT U R E D O N F R O N T C OV E R Garden City, NY – “Turney House” SD #18 | MLS# 3127294 | $5,495,000

Northport, NY – “Patriot Farm” SD #5 | MLS# 3139992 | $3,395,000

Properties reported closed by All Brokers on Multiple Listing Service of Long Island. Statistics based on properties sold at $1.5 million and above. Properties closed from January 1 through June 30, 2019.

Welcome to our Mid-Year Luxury Market Report.

As we head into the summer months, Long Island’s luxury housing market (recognized as properties that list for $1.5 million and above) has held its own in the first half of 2019, confirming the desirability of Long Island and Queens as both an outstanding place to live and a strong investment.

This market report shares closed sales for the areas within Nassau and Suffolk counties, Queens, and the East End serviced by our 25 sales offices. The number of closed sales varies widely by location, with certain communities outperforming others, but overall statistics point to some softening in the luxury market. In general, we are seeing a decrease in number of sales and lower average sales prices. However, interest rates are favorable, the economy remains strong, and in any real estate market, pricing properties correctly remains extremely important in achieving the highest potential sales price.

We trust that you’ll find the contents of this report to be a very useful tool in understanding the current luxury market. Recognize this report reflects sales price only and does not make any comparisons among the properties sold. Please contact any of our expert Real Estate Advisors for more comprehensive assistance.

We’re happy to help you with your real estate needs any season of the year.

Wishing you a wonderful summer to remember.

Sincerely,

PATRICIA J. PETERSEN

DEIRDRE O’CONNELL

President & Chairman of the Board

Chief Executive Officer

Locust Valley, NY – “Linden Hill” | SD #3 | MLS# 3133083 | $6,750,000

Nassau 2018

2019

Number of Sales

212

198

Days on Market

121

155

Average Price

$2,415,401

$2,107,648

Median Price

$1,930,000

$2,067,250

Highest Price

$9,500,000

$6,500,000

Suffolk 2018

2019

Number of Sales

51

48

Days on Market

133

Average Price

$2,629,698

$1,993,102

Median Price

$1,912,500

$1,827,500

Highest Price

$15,000,000

124

$5,000,000

East End 2018

2019

Number of Sales

47

42

Days on Market

296

Average Price

$2,416,843

$2,809,056

Median Price

$1,950,000

$2,600,000

Highest Price

$7,525,000

$6,700,000

238

Queens 2018

2019

Number of Sales

38

51

Days on Market

149

116

Average Price

$1,846,230

$1,723,940

Median Price

$1,722,500

$1,648,750

Highest Price

$4,000,000

$2,450,000

Nassau

5 -TOWNS

2018 2019

Number of Sales Days on Market Average Price Median Price Highest Price

6 7 39 125 $1,727,500 $1,989,000 $1,700,000 $1,750,000 $1,965,000 $3,700,000

(Hewlett/Hewlett Bay Park/Hewlett Neck/Hewlett Harbor/Woodmere/N. Woodmere/Woodsburgh/ Lawrence/Cedarhurst)

2018 2019 KINGS POINT

2018 2019 OLD WESTBURY

Number of Sales Days on Market Average Price Median Price Highest Price

Number of Sales Days on Market Average Price Median Price Highest Price

1 1 50 66 $9,500,000 $2,525,000 $9,500,000 $2,525,000 $9,500,000 $2,525,000

12 9 185 271 $2,732,750 $2,259,444 $2,250,000 $2,080,000 $7,000,000 $3,150,000

LATTINGTOWN/LOCUST VALLEY

OYSTER BAY COVE/COVE NECK

Number of Sales Days on Market Average Price Median Price Highest Price

Number of Sales Days on Market Average Price Median Price Highest Price

5 5 132 192 $2,624,800 $2,304,800 $1,879,000 $2,399,000 $5,100,000 $2,450,000

5 4 127 224 $2,868,500 $1,975,000 $2,125,000 $1,950,000 $4,600,000 $2,425,000

ATLANTIC BEACH Number of Sales Days on Market Average Price Median Price Highest Price

0 0 $0 $0 $0

2 5 $2,300,000 $2,300,000 $2,500,000

LAUREL HOLLOW

PORT WASHINGTON

Number of Sales Days on Market Average Price Median Price Highest Price

Number of Sales Days on Market Average Price Median Price Highest Price

4 3 188 94 $1,718,750 $1,733,333 $1,662,500 $1,700,000 $2,025,000 $1,950,000

8 9 43 106 $1,699,625 $2,131,667 $1,590,000 $1,695,000 $2,065,000 $3,650,000

BROOKVILLE/UPPER BROOKVILLE Number of Sales Days on Market Average Price Median Price Highest Price

18 15 252 174 $2,670,778 $2,307,633 $2,462,500 $2,200,000 $5,750,000 $3,950,000

MANHASSET Number of Sales Days on Market Average Price Median Price Highest Price

ROCKVILLE CENTRE 44 52 114 119 $2,414,261 $2,356,693 $2,300,000 $2,103,500 $4,350,000 $4,500,000

Number of Sales Days on Market Average Price Median Price Highest Price

2 2 50 195 $1,572,500 $1,601,000 $1,572,500 $1,601,000 $1,595,000 $1,635,000

CENTRE ISLAND Number of Sales Days on Market Average Price Median Price Highest Price

1 2 99 180 $1,850,000 $1,975,000 $1,850,000 $1,975,000 $1,850,000 $2,450,000

GARDEN CITY Number of Sales Days on Market Average Price Median Price Highest Price

5 8 64 93 $ 1,904,500 $1,923,750 $1,862,500 $1,722,500 $2,600,000 $2,750,000

MATINECOCK Number of Sales Days on Market Average Price Median Price Highest Price

ROSLYN 0 0 $0 $0 $0

0 0 $0 $0 $0

MILL NECK Number of Sales Days on Market Average Price Median Price Highest Price

4 2 190 199 $3,057,750 $2,345,000 $3,208,000 $2,345,000 $ 3,500,000 $2,600,000

GLEN COVE/GLEN HEAD/ SEA CLIFF

MUTTONTOWN

Number of Sales Days on Market Average Price Median Price Highest Price

3 3 344 377 $1,910,000 $2,576,667 $1,930,000 $2,575,000 $2,100,000 $3,225,000

Number of Sales Days on Market Average Price Median Price Highest Price

42 35 140 127 $2,421,238 $2,313,657 $2,120,000 $2,000,000 $6,000,000 $5,050,000

OLD BROOKVILLE

5 5 171 165 $2,472,000 $1,954,500 $2,350,000 $1,820,000 $3,300,000 $2,400,000

GREAT NECK Number of Sales Days on Market Average Price Median Price Highest Price

Number of Sales Days on Market Average Price Median Price Highest Price

7 5 87 120 $3,482,698 $2,276,000 $2,350,000 $2,100,000 $7,425,000 $3,280,000

(East Hills/Roslyn Estates/Roslyn Harbor/ Roslyn Heights)

Number of Sales Days on Market Average Price Median Price Highest Price

29 23 181 81 $1,884,562 $2,007,456 $1,780,000 $1,925,000 $2,450,000 $2,670,000

SANDS POINT Number of Sales Days on Market Average Price Median Price Highest Price

11 6 95 353 $2,211,205 $3,405,000 $1,999,000 $2,775,000 $3,350,000 $6,500,000

Suffolk

2018 2019 ASHAROKEN/EATONS NECK/ CENTERPORT/FORT SALONGA/ NORTHPORT Number of Sales Days on Market Average Price Median Price Highest Price

2 4 83 86 $1,912,500 $1,906,250 $1,912,500 $1,875,000 $2,000,000 $2,150,000

East End

2018 2019 COLD SPRING HARBOR Number of Sales Days on Market Average Price Median Price Highest Price

11 3 218 84 $2,133,864 $1,831,667 $1,900,000 $1,805,000 $4,595,000 $2,165,000

HAMPTON BAYS Number of Sales Days on Market Average Price Median Price Highest Price

3 1 153 10 $3,081,667 $1,567,000 $1,850,000 $1,567,000 $5,700,000 $1,567,000

HEAD OF THE HARBOR/ NISSEQUOGUE Number of Sales 2 1 Days on Market 81 145 Average Price $2,931,000 $2,000,000 Median Price Highest Price

$2,931,000 $2,000,000 $4,200,000 $2,000,000

HUNTINGTON/HUNTINGTON BAY Number of Sales Days on Market Average Price Median Price Highest Price

3 5 137 132 $1,651,667 $2,124,200 $1,600,000 $1,685,000 $1,755,000 $3,825,000

LLOYD HARBOR/LLOYD NECK Number of Sales Days on Market Average Price Median Price Highest Price

5 10 126 153 $2,480,000 $2,527,375 $2,595,000 $2,287,500 $3,100,000 $5,000,000

MELVILLE/DIX HILLS Number of Sales Days on Market Average Price Median Price Highest Price

4 6 80 163 $1,744,375 $ 1,567,500 $1,796,250 $1,555,000 $1,875,000 $1,650,000

NORTH FORK Number of Sales Days on Market Average Price Median Price Highest Price

19 14 188 125 $2,847,211 $2,138,929 $1,950,000 $1,827,500 $15,000,000 $3,025,000

OLD FIELD/SETAUKET Number of Sales Days on Market Average Price Median Price Highest Price

2 4 128 218 $4,885,000 $2,275,000 $4,885,000 $2,237,500 $8,250,000 $2,500,000

2018 2019 EAST QUOGUE Number of Sales Days on Market Average Price Median Price Highest Price

3 2 196 231 $1,868,963 $1,785,000 $1,733,888 $1,785,000 $2,298,000 $1,970,000

QUOGUE Number of Sales Days on Market Average Price Median Price Highest Price

17 7 241 202 $3,096,706 $3,621,286 $2,300,000 $3,750,000 $7,525,000 $4,600,000

REMSENBURG Number of Sales Days on Market Average Price Median Price Highest Price

1 2 236 150 $1,665,000 $2,619,500 $1,665,000 $2,619,500 $1,665,000 $3,230,000

SHELTER ISLAND/ SHELTER ISLAND HEIGHTS Number of Sales Days on Market Average Price Median Price Highest Price

5 7 383 477 $3,108,000 $3,266,429 $1,950,000 $2,600,000 $6,800,000 $6,300,000

WESTHAMPTON Number of Sales Days on Market Average Price Median Price Highest Price

7 5 241 171 $1,863,571 $2,983,000 $1,750,000 $1,900,000 $2,400,000 $6,700,000

WESTHAMPTON BEACH/ QUIOGUE Number of Sales Days on Market Average Price Median Price Highest Price

11 16 273 291 $3,060,000 $2,579,844 $2,940,000 $2,518,750 $5,100,000 $6,425,000

WESTHAMPTON DUNES Number of Sales Days on Market Average Price Median Price Highest Price

3 3 500 147 $2,255,667 $2,808,333 $1,975,000 $3,250,000 $3,000,000 $3,350,000

Queens

2018 2019

BAYSIDE Number of Sales Days on Market Average Price Median Price Highest Price

4 12 132 86 $1,971,375 $1,645,915 $2,031,250 $1,627,500 $2,248,000 $1,910,000

BEECHHURST/MALBA/ WHITESTONE Number of Sales Days on Market Average Price Median Price Highest Price

8 10 215 330 $2,205,375 $1,789,400 $1,882,500 $1,699,500 $4,000,000 $2,450,000

DOUGLASTON/LITTLE NECK Number of Sales Days on Market Average Price Median Price Highest Price

7 4 175 89 $1,786,714 $1,645,972 $1,770,000 $1,622,500 $2,180,000 $1,738,888

FLUSHING Number of Sales Days on Market Average Price Median Price Highest Price

12 14 107 77 $1,701,000 $1,720,929 $1,615,000 $1,670,000 $2,350,000 $2,380,000

FRESH MEADOWS/HOLLIS HILLS/ JAMAICA ESTATES Number of Sales Days on Market Average Price Median Price Highest Price

4 7 161 72 $1,596,250 $1,741,429 $1,600,000 $1,625,000 $1,660,000 $2,125,000

MASPETH/MIDDLE VILLAGE/ RIDGEWOOD Number of Sales Days on Market Average Price Median Price Highest Price

3 4 104 46 $ 1,816,667 $ 1,800,000 $1,675,000 $1,712,500 $2,275,000 $2,275,000

Our Locations GARDEN CITY

MATTITUCK

SHELTER ISLAND

2110 Northern Blvd

102 Seventh Street

10095 Main Road

17 Grand Avenue

Manhasset, NY 11030

Garden City, NY 11530

516.365.2319

Mattituck, NY 11952 631.298.0300

Shelter Island Heights, NY 11965

516.248.6655

ASTORIA/LONG ISLAND CITY

GLEN HEAD/OLD BROOKVILLE

MATTITUCK LOVE LANE

SMITHTOWN

35-37 36th Street, 2nd Floor

240 Glen Head Road

70 Love Lane, PO Box 1710

81 Route 111

Astoria, NY 11106

Glen Head, NY 11545

Mattituck, NY 11952

718.650.5855

516.674.2000

631.298.4130

Smithtown, NY 11787 631.584.6600

BAYSIDE/FLUSHING

GREAT NECK

NORTHPORT

STONY BROOK/PORT JEFFERSON

35-16B Francis Lewis Blvd

42B Middle Neck Road

77 Main Street

1067 Route 25A

Flushing, NY 11358-1954

Great Neck, NY 11021

Northport, NY 11768

Stony Brook, NY 11777

718.762.2268

516.466.4036

631.754.3400

631.689.6980

CARLE PLACE/WESTBURY

GREENPORT

PORT WASHINGTON

SYOSSET/MUTTONTOWN

356 Westbury Avenue

114 Main Street

350 Main Street

7951 Jericho Turnpike

Carle Place, NY 11514

Greenport, NY 11944

Port Washington, NY 11050

Woodbury, NY 11797

516.334.3606

631.477.0013

516.883.2900

516.677.0030

COLD SPRING HARBOR

HUNTINGTON

RELOCATION & REFERRALS

WESTHAMPTON BEACH

5 Main Street

187 Park Avenue

37 Main Street

Cold Spring Harbor, NY 11724 631.692.6770

Huntington, NY 11743 631.427.6600

Cold Spring Harbor, NY 11724

100 Main Street Westhampton Beach, NY 11978 631.288.1050

CORPORATE

LOCUST VALLEY

ROCKVILLE CENTRE

1 Buckram Road

36 S. Park Avenue

Locust Valley, NY 11560 516.759.4800

Rockville Centre, NY 11570

MANHASSET

SEA CLIFF

364 Plandome Road

266 Sea Cliff Avenue Sea Cliff, NY 11579 516.759.6822

AMERICANA MANHASSET

36 Main Street Cold Spring Harbor, NY 11724 631.423.1180

CUTCHOGUE 28080 Main Road Cutchogue, NY 11935 631.734.5439

Manhasset, NY 11030 516.627.4440

800.445.4460

516.678.1510

danielgale.com Each office is independently owned and operated. We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.

631.749.1155

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