E
ast End Real Estate Market: A Quarter of Resilience
The first quarter of 2025 brought a surge in sales to the East End, with the South Fork experiencing its highest level of closings since Q3 2023. The North Fork also rebounded, notching its first year-over-year sales increase in four quarters.
South Fork Sales Soar
Sales on the South Fork skyrocketed by 28% year over year, with a total of 452 closings. This marks the second consecutive quarter with an annual increase in sales since Q3 2021. East Hampton Village saw the greatest annual percentage gain, with closings doubling to 20 sales from 10 last year.
Median prices on the South Fork increased by 5% this quarter, with half of the 14 submarkets experiencing growth compared to a year ago. Southampton's median price rose significantly, up 47%, driven by three sales topping $6M.
Luxury Sales Shine
The residential luxury market on the South Fork saw an average price increase of 2% to $12.9M, while the median price decreased by 10% due to a larger share of sales below $2M. Amagansett reported the most expensive sale at $70M for a 10,000 sq.ft. compound.
North Fork Revival
The North Fork single-family home market experienced a 17% annual increase in sales, with 116 closings in Q1 2025. This marks the first annual increase in four quarters. Cutchogue saw the most significant percentage increase, up 67%, while East Marion/Orient reported the largest decline.
Average prices on the North Fork rose by 14% to $1.344M, driven by double the number of sales above $3M. The overall median price increased by 1% year over year to $995K, with Southold/Peconic seeing the largest increase in median price at 32%.
Luxury Sales on the North Fork
The average luxury sale price on the North Fork increased by 22% annually, while the median price jumped 41% year over year. The highest priced sale was a beachfront residence on Cutchogue Harbor for $6.4M, with seven sales reported above $3M this quarter compared to only three last year.
