T
he North Fork's rapid ascent to luxury status is raising eyebrows, with record-breaking home sales defying the area's desire to remain a laid-back alternative to the Hamptons.

    Last quarter, the 30-mile-long Long Island peninsula saw a median sale price of $1.09 million, a 13% jump from the same period last year, according to Douglas Elliman's Miller Samuel report. This marks the region's third record-high quarter in the past year.

    Wealthy buyers are flocking to the North Fork, drawn by its slower pace and exclusivity, but also driven by the dwindling inventory in the Hamptons. "People who want the North Fork want it precisely because it's the North Fork," said Todd Bourgard, CEO of Douglas Elliman's Long Island division.

    The area's luxury home sales are outpacing demand, with listing inventory declining 43% from last spring. As a result, homes in the North Fork are becoming increasingly expensive and attracting crowds reminiscent of the Hamptons. The region's highest-ever share of sales above $1 million was recorded last quarter, solidifying its reputation as a luxury destination.

    Bourgard notes that his agents are reporting lightning-fast listings with multiple bids on high-end properties, often with all-cash offers and waived contingencies. While some may see this as a sign of the North Fork becoming the Hamptons 2.0, locals insist it remains a unique and desirable place to live.