As the summer 2018 season approaches Labor Day weekend, customers, clients and real estate agents review trends in the real estate market over the prior five months, which are considered the spring and summer selling season. The last two weeks of August through Labor Day are a popular vacation time; clients selling their properties are aiming to receive an offer and agreement; goal oriented Continue Reading
Shelter Island Market Report Aug 16, 2018
Distressed Properties Whenever a "Pre-Foreclosure" property appears online, customers call to ask how quickly they can purchase it - Very often the dollar value shown is what the bank is owed, and not a listing price. A few years ago, a pre-foreclosure property on Further Lane was online for $2M and a customer contacted me, breathless, saying they wanted to buy it right away. Continue Reading
Shelter Island Market Report Aug 9, 2018
The First Full Week of August The first full week of August saw an increase in activity in the Shelter Island real estate market over all price ranges. Many customers who have been house-hunting for over a year have returned with a goal. In the starter home bracket, one customer this week expressed regret that they had not pulled the trigger on a home they had negotiated and won four years Continue Reading
Shelter Island Market Report Aug 2, 2018
"Turnover Week" This week was "turnover week" in the rental market on Shelter Island. Many July tenants moved out of rental properties on Sunday, July 29th, two days early, giving Landlords time to reset their rentals for incoming August tenants, many of whom will be arriving on Friday, August 3rd. The island felt unusually quiet this week as a result. Each rental season has its own stories Continue Reading
Shelter Island Market Report July 26, 2018 – The Second Half of July
In the Shelter Island real estate market, the second half of July brought with it more tour activity, an increase in the number of offers made on active listings, new listings coming to the market, and more requests from homeowners for an analysis of the value of their property with a thought toward selling. Over a period of three days, I had four tours that featured nearly 30 properties, Continue Reading
Shelter Island Market Report – The First Half of 2018
The statistics for properties sold during the first six months of 2018 are starting to take shape. Closings are reported to Suffolk County which reports the numbers to the Town. Because there are delays between actual closings and when each Town receives the information, a combination of our own database, used throughout the East End of Long Island, and County and Shelter Island Town reports are Continue Reading
Shelter Island Market Report June 28, 2018
July 4th Week Over 4th of July this year, there are two opportunities for vacationers since the holiday falls on a Wednesday: a long weekend beginning Friday June 29th or a long weekend beginning Tues July 3rd. Either way, the calendar translates to a promising real estate week ahead for both sellers and buyers. On the sales end, customers have been methodical in their search, in many cases Continue Reading
Memorial Day Market Report 2018
As we approach the first big holiday weekend of the summer season, having experienced overcast and rainy days with a smattering of sunshine in between, the foliage has finally given Shelter Island the gift of a green canopy with an abundance of colorful shrubs in full blossom. As vacationers disembark the ferries, Shelter Island will welcome them with a full, beautiful glow of nature, as though Continue Reading
Spring Returns to Shelter Island – Mar 29, 2018
Each year at this time, we all yearn for signs of springtime returning to Shelter Island. Crocuses popping their heads up in late February brought hope only to be dashed by another Nor’easter. Two Sundays ago, I was showing a listing of mine in Dering Harbor Village to a couple who were game to trudge through over a foot of fallen dead leaves to explore the contours of the land. They got Continue Reading
Valentines Day 2018 and 4th Quarter 2017 Statistics
The 2017 statistics paint a favorable portrait of the Shelter Island real estate market with: 62 transactions totaling $123,636,299 and a median price of $852,500, representing a 2.08% increase to the 2016 annual total of $121,106,996. Because of the time it takes the County to record sold transactions, many entities that report on sales statistics often do so with incomplete information, which Continue Reading
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