2 0 1 9 M I D -Y E A R
Luxury Market Report A N A N A LY S I S O F T H E L O N G I S L A N D A N D Q U E E N S L U X U R Y M A R K E T S
F E AT U R E D O N F R O N T C OV E R Garden City, NY – “Turney House” SD #18 | MLS# 3127294 | $5,495,000
Northport, NY – “Patriot Farm” SD #5 | MLS# 3139992 | $3,395,000
Properties reported closed by All Brokers on Multiple Listing Service of Long Island. Statistics based on properties sold at $1.5 million and above. Properties closed from January 1 through June 30, 2019.
Welcome to our Mid-Year Luxury Market Report. As we head into the summer months, Long Island’s luxury housing market (recognized as properties that list for $1.5 million and above) has held its own in the first half of 2019, confirming the desirability of Long Island and Queens as both an outstanding place to live and a strong investment.
This market report shares closed sales for the areas within Nassau and Suffolk counties, Queens, and the East End serviced by our 25 sales offices. The number of closed sales varies widely by location, with certain communities outperforming others, but overall statistics point to some softening in the luxury market. In general, we are seeing a decrease in number of sales and lower average sales prices. However, interest rates are favorable, the economy remains strong, and in any real estate market, pricing properties correctly remains extremely important in achieving the highest potential sales price.
We trust that you’ll find the contents of this report to be a very useful tool in understanding the current luxury market. Recognize this report reflects sales price only and does not make any comparisons among the properties sold. Please contact any of our expert Real Estate Advisors for more comprehensive assistance.
We’re happy to help you with your real estate needs any season of the year.
Wishing you a wonderful summer to remember.
Sincerely,
PATRICIA J. PETERSEN
DEIRDRE O’CONNELL
President & Chairman of the Board
Chief Executive Officer
Locust Valley, NY – “Linden Hill” | SD #3 | MLS# 3133083 | $6,750,000
Nassau 2018
2019
Number of Sales
212
198
Days on Market
121
155
Average Price
$2,415,401
$2,107,648
Median Price
$1,930,000
$2,067,250
Highest Price
$9,500,000
$6,500,000
Suffolk 2018
2019
Number of Sales
51
48
Days on Market
133
Average Price
$2,629,698
$1,993,102
Median Price
$1,912,500
$1,827,500
Highest Price
$15,000,000
124
$5,000,000
East End 2018
2019
Number of Sales
47
42
Days on Market
296
Average Price
$2,416,843
$2,809,056
Median Price
$1,950,000
$2,600,000
Highest Price
$7,525,000
$6,700,000
238
Queens 2018
2019
Number of Sales
38
51
Days on Market
149
116
Average Price
$1,846,230
$1,723,940
Median Price
$1,722,500
$1,648,750
Highest Price
$4,000,000
$2,450,000
Nassau 5 -TOWNS
2018 2019
Number of Sales Days on Market Average Price Median Price Highest Price
6 7 39 125 $1,727,500 $1,989,000 $1,700,000 $1,750,000 $1,965,000 $3,700,000
(Hewlett/Hewlett Bay Park/Hewlett Neck/Hewlett Harbor/Woodmere/N. Woodmere/Woodsburgh/ Lawrence/Cedarhurst)
2018 2019 KINGS POINT
2018 2019 OLD WESTBURY
Number of Sales Days on Market Average Price Median Price Highest Price
Number of Sales Days on Market Average Price Median Price Highest Price
1 1 50 66 $9,500,000 $2,525,000 $9,500,000 $2,525,000 $9,500,000 $2,525,000
12 9 185 271 $2,732,750 $2,259,444 $2,250,000 $2,080,000 $7,000,000 $3,150,000
LATTINGTOWN/LOCUST VALLEY
OYSTER BAY COVE/COVE NECK
Number of Sales Days on Market Average Price Median Price Highest Price
Number of Sales Days on Market Average Price Median Price Highest Price
5 5 132 192 $2,624,800 $2,304,800 $1,879,000 $2,399,000 $5,100,000 $2,450,000
5 4 127 224 $2,868,500 $1,975,000 $2,125,000 $1,950,000 $4,600,000 $2,425,000
ATLANTIC BEACH Number of Sales Days on Market Average Price Median Price Highest Price
0 0 $0 $0 $0
2 5 $2,300,000 $2,300,000 $2,500,000
LAUREL HOLLOW
PORT WASHINGTON
Number of Sales Days on Market Average Price Median Price Highest Price
Number of Sales Days on Market Average Price Median Price Highest Price
4 3 188 94 $1,718,750 $1,733,333 $1,662,500 $1,700,000 $2,025,000 $1,950,000
8 9 43 106 $1,699,625 $2,131,667 $1,590,000 $1,695,000 $2,065,000 $3,650,000
BROOKVILLE/UPPER BROOKVILLE Number of Sales Days on Market Average Price Median Price Highest Price
18 15 252 174 $2,670,778 $2,307,633 $2,462,500 $2,200,000 $5,750,000 $3,950,000
MANHASSET Number of Sales Days on Market Average Price Median Price Highest Price
ROCKVILLE CENTRE 44 52 114 119 $2,414,261 $2,356,693 $2,300,000 $2,103,500 $4,350,000 $4,500,000
Number of Sales Days on Market Average Price Median Price Highest Price
2 2 50 195 $1,572,500 $1,601,000 $1,572,500 $1,601,000 $1,595,000 $1,635,000
CENTRE ISLAND Number of Sales Days on Market Average Price Median Price Highest Price
1 2 99 180 $1,850,000 $1,975,000 $1,850,000 $1,975,000 $1,850,000 $2,450,000
GARDEN CITY Number of Sales Days on Market Average Price Median Price Highest Price
5 8 64 93 $ 1,904,500 $1,923,750 $1,862,500 $1,722,500 $2,600,000 $2,750,000
MATINECOCK Number of Sales Days on Market Average Price Median Price Highest Price
ROSLYN 0 0 $0 $0 $0
0 0 $0 $0 $0
MILL NECK Number of Sales Days on Market Average Price Median Price Highest Price
4 2 190 199 $3,057,750 $2,345,000 $3,208,000 $2,345,000 $ 3,500,000 $2,600,000
GLEN COVE/GLEN HEAD/ SEA CLIFF
MUTTONTOWN
Number of Sales Days on Market Average Price Median Price Highest Price
3 3 344 377 $1,910,000 $2,576,667 $1,930,000 $2,575,000 $2,100,000 $3,225,000
Number of Sales Days on Market Average Price Median Price Highest Price
42 35 140 127 $2,421,238 $2,313,657 $2,120,000 $2,000,000 $6,000,000 $5,050,000
OLD BROOKVILLE
5 5 171 165 $2,472,000 $1,954,500 $2,350,000 $1,820,000 $3,300,000 $2,400,000
GREAT NECK Number of Sales Days on Market Average Price Median Price Highest Price
Number of Sales Days on Market Average Price Median Price Highest Price
7 5 87 120 $3,482,698 $2,276,000 $2,350,000 $2,100,000 $7,425,000 $3,280,000
(East Hills/Roslyn Estates/Roslyn Harbor/ Roslyn Heights)
Number of Sales Days on Market Average Price Median Price Highest Price
29 23 181 81 $1,884,562 $2,007,456 $1,780,000 $1,925,000 $2,450,000 $2,670,000
SANDS POINT Number of Sales Days on Market Average Price Median Price Highest Price
11 6 95 353 $2,211,205 $3,405,000 $1,999,000 $2,775,000 $3,350,000 $6,500,000
Suffolk 2018 2019 ASHAROKEN/EATONS NECK/ CENTERPORT/FORT SALONGA/ NORTHPORT Number of Sales Days on Market Average Price Median Price Highest Price
2 4 83 86 $1,912,500 $1,906,250 $1,912,500 $1,875,000 $2,000,000 $2,150,000
East End
2018 2019 COLD SPRING HARBOR Number of Sales Days on Market Average Price Median Price Highest Price
11 3 218 84 $2,133,864 $1,831,667 $1,900,000 $1,805,000 $4,595,000 $2,165,000
HAMPTON BAYS Number of Sales Days on Market Average Price Median Price Highest Price
3 1 153 10 $3,081,667 $1,567,000 $1,850,000 $1,567,000 $5,700,000 $1,567,000
HEAD OF THE HARBOR/ NISSEQUOGUE Number of Sales 2 1 Days on Market 81 145 Average Price $2,931,000 $2,000,000 Median Price Highest Price
$2,931,000 $2,000,000 $4,200,000 $2,000,000
HUNTINGTON/HUNTINGTON BAY Number of Sales Days on Market Average Price Median Price Highest Price
3 5 137 132 $1,651,667 $2,124,200 $1,600,000 $1,685,000 $1,755,000 $3,825,000
LLOYD HARBOR/LLOYD NECK Number of Sales Days on Market Average Price Median Price Highest Price
5 10 126 153 $2,480,000 $2,527,375 $2,595,000 $2,287,500 $3,100,000 $5,000,000
MELVILLE/DIX HILLS Number of Sales Days on Market Average Price Median Price Highest Price
4 6 80 163 $1,744,375 $ 1,567,500 $1,796,250 $1,555,000 $1,875,000 $1,650,000
NORTH FORK Number of Sales Days on Market Average Price Median Price Highest Price
19 14 188 125 $2,847,211 $2,138,929 $1,950,000 $1,827,500 $15,000,000 $3,025,000
OLD FIELD/SETAUKET Number of Sales Days on Market Average Price Median Price Highest Price
2 4 128 218 $4,885,000 $2,275,000 $4,885,000 $2,237,500 $8,250,000 $2,500,000
2018 2019 EAST QUOGUE Number of Sales Days on Market Average Price Median Price Highest Price
3 2 196 231 $1,868,963 $1,785,000 $1,733,888 $1,785,000 $2,298,000 $1,970,000
QUOGUE Number of Sales Days on Market Average Price Median Price Highest Price
17 7 241 202 $3,096,706 $3,621,286 $2,300,000 $3,750,000 $7,525,000 $4,600,000
REMSENBURG Number of Sales Days on Market Average Price Median Price Highest Price
1 2 236 150 $1,665,000 $2,619,500 $1,665,000 $2,619,500 $1,665,000 $3,230,000
SHELTER ISLAND/ SHELTER ISLAND HEIGHTS Number of Sales Days on Market Average Price Median Price Highest Price
5 7 383 477 $3,108,000 $3,266,429 $1,950,000 $2,600,000 $6,800,000 $6,300,000
WESTHAMPTON Number of Sales Days on Market Average Price Median Price Highest Price
7 5 241 171 $1,863,571 $2,983,000 $1,750,000 $1,900,000 $2,400,000 $6,700,000
WESTHAMPTON BEACH/ QUIOGUE Number of Sales Days on Market Average Price Median Price Highest Price
11 16 273 291 $3,060,000 $2,579,844 $2,940,000 $2,518,750 $5,100,000 $6,425,000
WESTHAMPTON DUNES Number of Sales Days on Market Average Price Median Price Highest Price
3 3 500 147 $2,255,667 $2,808,333 $1,975,000 $3,250,000 $3,000,000 $3,350,000
Queens
2018 2019
BAYSIDE Number of Sales Days on Market Average Price Median Price Highest Price
4 12 132 86 $1,971,375 $1,645,915 $2,031,250 $1,627,500 $2,248,000 $1,910,000
BEECHHURST/MALBA/ WHITESTONE Number of Sales Days on Market Average Price Median Price Highest Price
8 10 215 330 $2,205,375 $1,789,400 $1,882,500 $1,699,500 $4,000,000 $2,450,000
DOUGLASTON/LITTLE NECK Number of Sales Days on Market Average Price Median Price Highest Price
7 4 175 89 $1,786,714 $1,645,972 $1,770,000 $1,622,500 $2,180,000 $1,738,888
FLUSHING Number of Sales Days on Market Average Price Median Price Highest Price
12 14 107 77 $1,701,000 $1,720,929 $1,615,000 $1,670,000 $2,350,000 $2,380,000
FRESH MEADOWS/HOLLIS HILLS/ JAMAICA ESTATES Number of Sales Days on Market Average Price Median Price Highest Price
4 7 161 72 $1,596,250 $1,741,429 $1,600,000 $1,625,000 $1,660,000 $2,125,000
MASPETH/MIDDLE VILLAGE/ RIDGEWOOD Number of Sales Days on Market Average Price Median Price Highest Price
3 4 104 46 $ 1,816,667 $ 1,800,000 $1,675,000 $1,712,500 $2,275,000 $2,275,000
Our Locations GARDEN CITY
MATTITUCK
SHELTER ISLAND
2110 Northern Blvd
102 Seventh Street
10095 Main Road
17 Grand Avenue
Manhasset, NY 11030
Garden City, NY 11530
516.365.2319
Mattituck, NY 11952 631.298.0300
Shelter Island Heights, NY 11965
516.248.6655
ASTORIA/LONG ISLAND CITY
GLEN HEAD/OLD BROOKVILLE
MATTITUCK LOVE LANE
SMITHTOWN
35-37 36th Street, 2nd Floor
240 Glen Head Road
70 Love Lane, PO Box 1710
81 Route 111
Astoria, NY 11106
Glen Head, NY 11545
Mattituck, NY 11952
718.650.5855
516.674.2000
631.298.4130
Smithtown, NY 11787 631.584.6600
BAYSIDE/FLUSHING
GREAT NECK
NORTHPORT
STONY BROOK/PORT JEFFERSON
35-16B Francis Lewis Blvd
42B Middle Neck Road
77 Main Street
1067 Route 25A
Flushing, NY 11358-1954
Great Neck, NY 11021
Northport, NY 11768
Stony Brook, NY 11777
718.762.2268
516.466.4036
631.754.3400
631.689.6980
CARLE PLACE/WESTBURY
GREENPORT
PORT WASHINGTON
SYOSSET/MUTTONTOWN
356 Westbury Avenue
114 Main Street
350 Main Street
7951 Jericho Turnpike
Carle Place, NY 11514
Greenport, NY 11944
Port Washington, NY 11050
Woodbury, NY 11797
516.334.3606
631.477.0013
516.883.2900
516.677.0030
COLD SPRING HARBOR
HUNTINGTON
RELOCATION & REFERRALS
WESTHAMPTON BEACH
5 Main Street
187 Park Avenue
37 Main Street
Cold Spring Harbor, NY 11724 631.692.6770
Huntington, NY 11743 631.427.6600
Cold Spring Harbor, NY 11724
100 Main Street Westhampton Beach, NY 11978 631.288.1050
CORPORATE
LOCUST VALLEY
ROCKVILLE CENTRE
1 Buckram Road
36 S. Park Avenue
Locust Valley, NY 11560 516.759.4800
Rockville Centre, NY 11570
MANHASSET
SEA CLIFF
364 Plandome Road
266 Sea Cliff Avenue Sea Cliff, NY 11579 516.759.6822
AMERICANA MANHASSET
36 Main Street Cold Spring Harbor, NY 11724 631.423.1180
CUTCHOGUE 28080 Main Road Cutchogue, NY 11935 631.734.5439
Manhasset, NY 11030 516.627.4440
800.445.4460
516.678.1510
danielgale.com Each office is independently owned and operated. We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.
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