F
oxRidge, a 17-acre estate in Oyster Bay Cove surrounded by conserved land, is listed for $7.5 million with Daniel Gale Sotheby's International Realty.
As the first quarter of 2025 comes to a close, real estate professionals share their insights on Long Island's market performance. Abigail Mago of Fire Island Sales & Rentals notes that while the first quarter is traditionally slow, this year saw an increase in showings and rental bookings compared to last year. Inventory levels are up, which is a positive sign for the market.
Anette Alicanti of Douglas Elliman reports that high mortgage rates have led to more serious buyers, giving sellers an advantage. She expects a strong second quarter as buyers try to purchase before interest rates drop. New construction in lower-tax areas has created new housing options under $1 million.
Bryan McMillen of Daniel Gale Sotheby's International Realty says Nassau County saw increased inventory and sales volume in the first quarter, with a 9% rise in median sales price to $770,000. He expects fewer bidding wars in the second quarter but continued strong activity and pricing.
Jack Pearson of The CeeJack Team notes that the Hamptons market began to lift off in the first quarter, with negotiations becoming more complicated as buyers become more cautious.
Sheri Winter Parker of The Corcoran Group reports a busy market on the North Fork, with single-family home sales up 17% year-over-year. She's seen an increase in new listings and sellers being sensitive to pricing.
Nick Campasano of The Agency notes that despite ongoing uncertainty around interest rates and inventory, Q1 was one of his busiest first quarters. He emphasizes the need for creativity in generating opportunities and finding untapped inventory.
Molly Deegan of Branch Real Estate Group says Long Island's market remained highly competitive in Q1, with record-high prices driven by low inventory and steady demand. She expects prices to remain strong but notes that rising inventory could rebalance the market slightly.
Jacob Simon of The Port Jefferson Team reports a great quarter for Long Island, with high demand but limited sellers. He expects the luxury market to rise as investors shift cash from the stock market into stable real estate investments.
