The real estate market on Shelter Island in the last 4 weeks since Labor Day has been productive for sellers and buyers alike, with 14 homes in contract and 4 homes sold. The strongest sector continues to be homes up to $1M inland while competitively priced waterfront properties which had been on the market in some cases for over 2 years found enthusiastic buyers. Since July Continue Reading
Labor Day 2017
There was a palpable shift in real estate activities this past week. Ensconced in rentals, tenants who have children preparing for school got in their last licks at summer vacation, and in between all their activities, toured listings for sale to consider, and dream of as the place they might call home in time for the summer of 2018. Sellers, also trying to enjoy what might be their last summer Continue Reading
Final 2nd Quarter Sales Statistics
Each quarter throughout the year, assorted real estate entities publish statistics for each Town on the East End of Long Island, pulling numbers from a variety of sources. The statistics are based on: 1) when a deed is recorded by the County. The delay between the actual closing and when the deed is recorded can be weeks 2) data from a multiple listing service or “MLS.” Because East End Continue Reading
The First Week of August
The first 10 days of August on Shelter Island have been a real estate whirlwind. August 1st brought the final summer wave of tenants moving into summer rentals, and without a moment to spare, those tenants ventured out to explore homes for sale. Listings in every price range were toured by both customers new to the market and those who have been searching for a while. Certain listings seemed to Continue Reading
Second Quarter 2017
The statistics for the second quarter sales for 2017 are starting to take as transfers are reported by Suffolk County. The final numbers are yet to be determined; however here is a tally so far: 27 East Brander Parkway – Listed 6/27/14 at $5.65M, last listed at $4.875M, sold 5/1/17 for $4,504,500, a 4102 sq. ft. harbor front traditional on .77 acre built in 2012 with pool and dock 2 Bay Continue Reading
Memorial Day Weekend 2017
One week before Memorial Day, there was a noticeable change throughout Shelter Island, with foliage filling in for a full green canopy, flowers blooming, boats returning to surrounding waters, and seasonal restaurants and shops now open for business. The business of the real estate market continues to be brisk, with customers taking advantage of historically low interest rates: 30 year Continue Reading
2016 Holiday Season
2016 was a year of starts and occasional pauses in the Shelter Island real estate market, as can often be the case in second home markets. Much of the year was robust with forward planning buyers researching the market and poised to act on a property meeting their criteria. New home construction and spec homes improved in 2016; this category frequently signals confidence in the market. Post Continue Reading
Thanksgiving 2016
This Thanksgiving season, those involved in the real estate market on Shelter Island have much to be thankful for. The third quarter 2016 showed an increase of over 23% compared to the same period in 2015. 2016: 19 sales totaling $33,468,000, with a median price of $920,000 2015: 24 sales totaling $27,131,339 with a median price of $792,500 Some of the highlights of the third quarter Continue Reading
Labor Day 2016
The summer real estate market on Shelter Island has been brisk indeed. The weeks leading to Memorial Day fast tracked certain transactions. In between beach and BBQs, customers, some of whom had been shopping for a home off the island, decided Shelter Island is a good place to invest their real estate dollars, and placed offers. Here are a few highlights: 121 North Ram Island Drive, 2.6 Continue Reading
Shelter Island Market Report Late August
With the last two weeks of the summer season into full swing, the activity in the real estate sector has gone from very busy to a fever pitch, with many customers aiming to view properties before their vacations have ended. Scheduling has always been a challenge in real estate, but summertime requires more finesse. This time of year, sellers and their families are utilizing their properties for Continue Reading
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