Q1-2022
Report
North Fork, NY Sales
North Fork
Median Sales Price
Condo & Single Family Dashboard
Number of Sales
$975K
300
$850K
240
$725K
180
$600K
120
$475K
60
$350K
0
YEAR-OVER-YEAR
+ 12.9% Prices
Median Sales Price
+ 0.3 mos Pace
Months of Supply
- 37.0% Sales
Closed Sales
- 26.4%
Inventory
Total Inventory
+ 2 days
2012
Listing Discount
•
Since the pandemic era began, median sales price has reached the top two highest levels each quarter
•
Bidding wars were incurred in more than four out of ten sales in two of the past three quarters
•
Listing inventory fell to the second-lowest on record after nine quarters of annual declines
•
With the collapse in supply, the number of sales saw significant annual declines for the past three quarters
2015
2016
2017
2018
2019
2020
Q1-2022
%∆ (qtr)
Q4-2021
Average Sales Price
$977,419
-19.6%
$1,215,061
Median Sales Price Median Sales Price
North Fork Luxury $847,713 -5.8%
$900,000
Number $3.0M of Sales (Closed) Days on Market (From Last List Date) $2.6M Listing Discount (From Last List Price)
114
-29.2%
75
25.0%
3.9%
Listing $2.2M Inventory
2021
2022
%∆ (yr)
Q1-2021
-2.7%
$1,004,028
Number of$751,000 Sales 12.9%
161
-37.0%
181 35
60
2.7%
73 29 3.3%
-26.4%
121 23
4.9%
89
9.9%
81
Months of Supply $1.8M Year-to-Date
2.3
53.3%
1.5
15.0%
Q1-2022
%∆ (qtr)
Q4-2021
%∆ (yr)
2.0 17 Q1-2021
Average $1.4M Sales Price (YTD)
$977,419
N/A
N/A
-2.7%
$1,004,028 11
Median Sales Price (YTD) $1.0M Number of Sales (YTD)
$847,713
N/A
N/A
12.9%
114
N/A
N/A
-37.0%
$751,000 5 181
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
The collapse in listing inventory held back sales and caused bidding wars to surge.
Days on Market
Negotiability
2014
North Fork Matrix
Marketing Time
+ 0.6%
2013
Median Sales Price Number of Sales North Fork Condo Average sales price slipped 2.7% annually to and was 69.4% below the pre-pandemic $977,419 levels. The collapse of listing inventory reined $1M but was 19.8% above pre-pandemic 15 levels. The median sales price was also up in demand as sales fell 37% annually to 114. sharply from the same period two years Despite the third quarter with a year over year $850Krising 19.8% to $847,713, the second12 ago, sales decline, the number of sales was on par highest on record, and was up 12.9% year with pre-pandemic levels. As an indicator over year. The lack of supply was a key driver of continued demand, the market share of $700K 9 of mixed results for price trends. Listing bidding wars reached 40.8%, the secondinventory fell 26.4% year over year to 89, the highest amount tracked and second only to second-lowest level low on record. Supply the all-time record of 51.6% two quarters ago. $550K 6 fell annually for the tenth straight quarter $400K
3
$250K
0 Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
Prepared by Miller Samuel Real Estate Appraisers & Consultants Median Sales Price
North Fork Single Family
Number of Sales
$700K Median Price 2014 2012 Sales 2013
North2017 Fork
2015
2016
$975K $550K Median Sales Price
9
2018
2020 Number 2021 of Sales 2022
2019
North Fork Luxury
$3.0M $850K $400K Median Sales Price $2.6M $9.0M $725K $250K $2.2M Q1-2021 $7.8M
Number of
300 6 Sales
35 240 3 Number of Sales
Hamptons Luxury
29 Q1-2022 The Elliman Report • Quarterly Survey of North Fork, NY Residential Sales 85 Q2-2021
Q3-2021
Q4-2021
Single Family
$1.8M $600K $6.6M $1.4M $475K $5.4M $1.0M Median Sales Price
2012 $4.2M $350K $950K $3.0M 2012
2012
$900K
2013
2013
2013
North Fork Single Family
2014
2015
2016
2014
2015
2016
2014
2015
2016
Median Sales Price $850K Median Sales Price $1M
2017
2018
2017
2018
2017
17 120 61 11 60 49 Number of Sales 5
2019
2020
2019
2018
2020
2019
2020
2022
2021
Q1-2021
Q2-2021
2022
180
Q3-2021
Q4-2021
Q1-2022
120 23 9 48 17 100 6 11 36
$1.0M $400K 2013
2014
2015
Condo
2016
$250K Median Sales Price
$450K $3.1M
2017
2018
2019
2020
Q2-2021
Q3-2021
Q4-2021
Q2-2021
Q1-2022
Q3-2021
Q4-2021
12 25
Q1-2022
0 20 15
15 12 200 10 9 180 Number of Sales
Hamptons Single Family
$1.55M $1.9M $550K $850K
5700 6 160
$1.50M $1.6M $400K $800K
0600 3 140
Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
$1.45M $250K $750K
500 0 120 Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
$1.40M $700K
400 100 Q1-2021
Q2-2021
Luxury
$1.35M
Median Sales Price
Q3-2021
Q4-2021
North Fork Single Family
Q2-2021
Q3-2021 North Fork Luxury
200 200 Number of Sales Q1-2022
Q4-2021
180 25
$850K $2.8M Median Sales Price
160 20 Number of Sales
Hamptons Luxury
$800K $2.5M $8.5M
140 15 85
$750K $2.2M $7.9M
120 10 70
Q1-2021
Q2-2021
Q3-2021
Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
100 5 55 0
$6.1M Median Sales Price
Q4-2021
Q1-2022
Share of East End Region Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
East End equals Hamptons and North Fork
USE PIE CHARTS FROM HAMPTONS
East End By Units
East End By Dollars
$2.2M
$1.9M
Q1-2021
Average Sales Price
$979,293
-19.9%
Median Sales Price
$847,713
-5.8%
$1,222,063
-4.2%
$1,021,904
$900,000
10.8%
112
-28.7%
$765,000
157
-36.4%
176
Days on Market (From Last List Date)
75
25.0%
Listing Discount (From Last List Price)
3.9%
60
2.7%
4.9%
73 3.3%
Listing Inventory
86
7.5%
80
-23.9%
113
Months of Supply
2.3
53.3%
1.5
21.1%
1.9
Condo Matrix
Q1-2022
%∆ (qtr)
Q4-2021
%∆ (yr)
Q1-2021
Average Sales Price
$872,500
-7.2%
$940,250
132.8%
$374,800
Median Sales Price Median Sales Price Number of Sales (Closed) $975K Days on Market (From Last List Date)
$872,500 -7.4% North Fork
$942,500
139.0% $365,000 Number of Sales -60.0% 5 300 24.4% 86
Listing Discount (From Last List Price)
2
-50.0%
4
107
723.1%
13
8.2%
$850K Listing Inventory
Months of Supply
-5.4%
7.8%
3
200.0%
1
-62.5%
4.5
462.5%
0.8
-6.3%
240 8
4.8 180
$725K
40
25
10
20
5
22.4%
Q1-2022
%∆ (qtr)
Q4-2021
%∆ (yr)
$2,076,463
-37.8%
$3,339,360
-24.7%
$1,871,250
-32.7%
$2,780,000
-22.7%
12
-29.4%
17
-36.8%
Days on Market (From Last List Date)
139
21.9%
114
51.1%
Listing Discount (From Last List Price) $350K
1.2%
Median Sales Price $475K Number of Sales (Closed)
Listing Inventory 2012
2013
Months of Supply
2014
2015
Entry Price Threshold
37
2016
9.3
9.7% 2017
$1,550,000
76.2%
2018
151.4% -29.9%
2019
21 3.7
$2,210,000
Q1-2021 120 $2,758,434 $2,420,000 60 19 92 2.0% 0
2020
-5.1%
2021
50.0%
-13.9%
2022
39 6.2
$1,800,000
North Fork Luxury
Median Sales Price
Number of Sales
$3.0M
35
$2.6M
29
$2.2M
23
$1.8M
17
$1.4M
11
15
10
9.7%
Luxury Matrix (Top 10% of Sales) $600K Average Sales Price
25
Number of Sales
North Fork Luxury
$3.1M $5.5M
$2.5M
%∆ (yr)
300 Number of Sales
$900K $3.1M
$2.8M
Q4-2021
Q1-2022
USE PIE CHARTS FROM HAMPTONS
$1.30M $950K Median Sales Price Q1-2021
$1.6M $6.7M
%∆ (qtr)
24
Number of Sales
North Fork Single Family
$2.2M $700K $900K Median Sales Price
2022
Number of Sales
North Fork Condo
Median Sales Price $2.5M $850K $950K
2021
Number of Sales 0
North Fork Luxury
Q1-2021
Median Sales Price $300K $2.8M $1M Q1-2021
$700K $1.9M $7.3M
Q1-2022
35 2012
$600K
Single Family Matrix
Number of Sales (Closed)
35 Number of Sales 140 12 29 60
Hamptons Condo
$750K $2.2M $700K $900K $1.8M $700K
$550K $1.4M $750K
0 200 25
Number of Sales Number of Sales160 15
North Fork Condo North Fork Luxury
$3.0M Median Sales Price $800K $850K $2.6M $1.05M
2022 37
2021
2021
elliman.com/marketreports
180 0 23 73
Q1-2022
0
$1.6M Q1-2021
Q2-2021
Q3-2021
Q4-2021
Q1-2022
90.3%
77.6%
$1.0M
USE PIE CHARTS FROM HAMPTONS
Hamptons
Northfork
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
73.4%
Hamptons
By Sales Share
5 2012
North Fork
Type Single Family Units Condo Units Single Family Dollars Condo Dollars
North Fork
Current Quarter
Prior Year Quarter
98.2%
97.2%
Over $1M $5M
3.5%
7.7%
Over
40.8%
34.7% 15
1.8%
2.8%
$1M – $5M
24.6%
22.1%
At
11.7%
15.6%
98.4%
99.0%
$850K Under $1M
71.9%
70.2%
Under
47.6%
12 49.7%
1.6%
1.0%
Price Median Sales Price
Current Quarter
Prior Year
$700K Questions or comments? Email report author Jonathan Miller at jmiller@millersamuel.com Methodology: millersamuel.com/research-reports/methodology
Douglas Elliman Real Estate 575 Madison Avenue, New York, NY 10022 212.891.7000 • elliman.com
$550K
Over/Under
North Fork Condo Quarter Last List
Current Prior Year Number of Sales Quarter Quarter
9 Miller Samuel Real Estate Appraisers & Consultants 21 West 38th Street, New York, NY 10018 6 212.768.8100 • millersamuel.com
© 2022 DOUGLAS ELLIMAN REAL ESTATE AND MILLER SAMUEL REAL ESTATE APPRAISERS & CONSULTANTS. ALL WORLDWIDE RIGHTS RESERVED. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. IF YOUR $400K PROPERTY IS CURRENTLY LISTED WITH ANOTHER REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL 3 ESTATE BROKERS. WE COOPERATE WITH THEM FULLY. EQUAL HOUSING OPPORTUNITY.