The last week of July has brought new group of prospective buyers to the real estate market on Shelter Island. This season, it appears many new customers are property owners on the South Fork looking to make a change. Customers I have been working with have expressed new found affection for the island and it's distinctly different appeal from the South Fork. It is uplifting to hear relative Continue Reading

First half sales statistics in the Hamptons and Shelter Island continue to be discussed in the news. As mentioned in my prior market report earlier this month, Shelter Island experienced a strong first half. The 2nd quarter brought 19 total transactions totaling $24,277,810 with a median of $950K. This is an improvement compared to 18 total transactions in 2015, a year ago, totaling $17,650,900 Continue Reading

As 4th of July vacationers enjoyed the sunshine and beaches, midyear statistics for properties sold were being tallied. The numbers are positive with a total of $57.735M sold and closed. Inland homes lead the way with $25,967,500. Properties up to the $1M mark have continued to be most in demand. With the topic of affordable housing in the news recently, it is worth noting that out of 27 homes Continue Reading

As 4th of July weekend approaches, the summer 2016 real estate market has officially commenced, with many customers scurrying to secure a last minute rental. At Tuesday’s Town Board meeting, the topic of short term rentals was again discussed. Town Supervisor Jim Dougherty said “AirBnb’s are an increasing phenomenon on Shelter Island. There are good sides and bad sides to this unfolding Continue Reading

Real estate activity this post Memorial Day week, ran the gamut, and included a long awaited waterfront closing, a high end rental showing, several appointments in the $1M range and showings of high end waterfront properties. Discussion of the proposed revision to the zoning code called “proportionality” which would reduce the percentage of a property that could be developed and include Continue Reading

The Spring selling season has continued in brisk fashion since Easter, in spite of long stretches of inclement weather. The below $1M market continues to lead the way with limited inventory. Inland homes starting in the low $1Ms are beginning to gain traction with several in contract since last month. Waterfront properties up to $5M, some of which have been on the market for more than a year, Continue Reading

The first day of spring, the holidays that coincide with it and the return of ospreys mark the beginning of the spring selling season on Shelter Island. As is the case with other second home markets, spring through autumn is traditionally the peak time to sell or purchase real estate on Shelter Island. The first quarter of 2016, in contrast to tradition perhaps due to mild temperatures, was Continue Reading

As February unfolds, the statistics for the 4th quarter of 2015 and the year in sum total are still being tallied as sales on Shelter Island are slowly recorded with Suffolk County. 24 transactions totaling $26,684,601 sold and closed during the 4th quarter with a median price of $760,181. Nearly $8M or 12 sold transactions were less than $1M continuing the strength of this category, which Continue Reading