By now, the East End has had time to adjust to the dramatic changes that the novel coronavirus pandemic brought with it: new year-rounders, school wait-lists, parking challenges off-season, outdoor dining in winter weather, and so much more. But not much has seen more change than the real estate industry. While we saw an ending to the slow-down of sales on the East End over the past decade, we wanted to explore how the market has fared specifically on the North Fork, the more pastoral sister of the Hamptons to the North – or as Judi Desiderio calls it, “The Brooklyn of the Hamptons.”
Desiderio’s brokerage, Town & Country, has dominated the North Fork realty market from Aquebogue to Greenport for decades. When the pandemic closed down the region, everything went digital and she deployed a strong team of “troops on the web, on social media and, of course, conventional marketing.” When we received T&C’s Hamptons Year End 2020 Home Sales Report it signaled a dramatic rise in the overall region but also provided a separate eye-popping report for the North Fork. She states that the entire North Fork is poised for a very strong trajectory.
575 homes traded hands on the North Fork in 2020 (+23% year over year), with a median home sale price of $667,000, according to the report.
We wondered if the numbers were all due to the pandemic or was there anything else in play? “It was primarily the Covid kick-up,” explained Desiderio. “It means the acceleration in activity due to the pandemic.”
The days of inventory under $500,000 are over on the North Fork, according to Desiderio. “Those days are behind us,” she said. “There are not only bidding wars like on the South Fork, but many of our deals are off-market deals. The price-points are very attractive.” She added that these are not what we call the summer people, but a population making the move. “Across the East End, our communities are experiencing an influx of people making the move to the country. Fresh air. Open Spaces. Beautiful Surroundings,” she noted.
It hasn’t been a walk through a North Fork vineyard, though. Desiderio states that the real estate industry has had to rewrite the playbook. “New York State has several legal disclosures for customers and clients to sign and procedures for everything from showings to home inspections. Thankfully our business is armed with individuals who are nimble and adjust accordingly.” Agencies are following careful, strict social distancing and mask regulations at home showings as well as conducting remote meetings.
“This is the best seller’s market I’ve experienced in 36 years,” said Desiderio.
Desiderio sees some similarities in trends when it came to elements of the East End home on both Forks. “Lots of nooks and cranies,” she explained. “People are working remotely, learning remotely, working out at home and needing some me time. They need space for their mental well-being and the great room layout doesn’t satisfy those demands.”
Her advice for sellers right now is that “Nothing lasts forever. There will be a saturation point. So if you’re considering trading up or trading down, or relocating to be near family, or save on taxes — the time is now,” she declared. “Speak with a seasoned professional so that they can advise you on how best to prepare your home for the best results.”
Buyers are out there, Desiderio said. “Some are struggling with having missed the market. Fret not. Our market is quite unique. We are surrounded on three sides by water, therefore there will always be a limited supply. From Jamesport to Orient, each village has its own personality. Find the one that suits you.”
She is incredibly optimistic about the market playing out in 2021, stating that the first half of the year should continue riding the Covid wave, but that there are some variables that may impact markets after that. “I expect this year to close out strong,” she stated.
Desiderio explained what differentiates Town & Country from other brokerages on the East End. “We uniquely cover the entire East End. Our offices are staffed with a select group of agents who are community-minded and highly skilled in our business,” she said. “Those factors along with management and support staff bar-none yields optimal results for our clientele as well as our associates.”
“I love everything about the East End,” she said. “I garden, and my husband and I are foodies. We love to entertain. Boating and beaching in the summer and off-season skiing out West!” Desiderio continues living her best life as a community leader, real estate guru, and now, a first-time beaming grandma, stating, “I’m over the moon for her.”
View Desiderio‘s properties:
Lari Lane, Shelter Island
LARI LANE, SHELTER ISLAND 14 BEDROOMS / 15 BATHROOMS / 20,000 SQ. FT. / 5.52 ACRES / $19,000,000 Once in a lifetime do you get the opportunity to acquire a such a unique assemblage of significant waterfront real estate. This is that once in a lifetime opportunity! Two single and separate parcels yield a main house with a…
Pauls Lane, Bridgehampton
PAULS LANE, BRIDGEHAMPTON 9 BEDROOMS / 10 BATHROOMS / 7,500 SQ. FT. / 1.00 ACRES / $15,950,000 Rarely seen and never before available, this antique barn — dating to colonial America c. 1700 — has been custom designed to blend modern appointments, the highest quality of finishes with authentic original details. Nicholas Botta AIA, masterfully married the…
