Shelter Island Market Report December 2016
2016 Holiday Season By Penelope Moore
Licensed Associate Real Estate Broker
2016 was a year of starts and occasional pauses in the Shelter Island real estate market, as can often be the case in second home markets. Much of the year was robust with forward planning buyers researching the market and poised to act on a property meeting their criteria. New home construction and spec homes improved in 2016; this category frequently signals confidence in the market. Post election, there was a momentary pause, however with news of the Federal Reserve increasing the prime rate, customers who had no particular timeline have come back with renewed purchasing goals. Since Thanksgiving the activity has been consistent. In December, the following properties sold and closed: •
1 Seagull Road – A 3 bedroom, 3 bath 2,138 sq. ft. inlet front with 380 ft. of waterfront, listed 9/29/13 at $2.995M and sold 12/3/16 for $2.3M
•
24-31 East Brander Parkway – Two dwellings totaling 4,198 sq. ft. with boat barn and separate deep water dock, listed 5/13 for $3.2M and sold 12/7/16 for $1.8M
•
32 Rocky Point Road – A 3 bedroom, 3 bath 1,570 sq. ft. ranch on 1.3 acres, listed 8/18/14 for $995K and sold 12/5/16 for $795K
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49 Brander Parkway – A 3 bedroom, 1.5 bath 1,496 sq. ft. ranch with vinyl pool, listed 10/3/08 for $859K, sold 12/9/16 for $775K
•
Our market continues to have limited inventory in all categories: waterfront, inland and starter homes, while there is a healthy supply of customers waiting for the right property. Buyers continue to prefer a home in turnkey condition over others that are not updated but may be a more attractive long term investment. Over the last 6 months there have been numerous multiple offer situations on properties which in many cases have been on the market for over a year. In several that I have been involved with, the financing, or absence of, has been the deciding factor. At this time of year, the rental market generally goes into full swing. This season, it appears many landlords are undecided on pricing and/ or dates and tenants have been slow to plan their summer. There are many choice rentals available in every category. 2016 was a memorable year for me. I opened my private real estate office in the Heights across from the Post Office and Ace Hardware store, returning to the block where I once worked in the late 1990s. The Heights is indeed a very special place within Shelter Island, a warm and friendly neighborhood within a small community. My first holiday in the new office has been marked with the first Christmas tree I have had as an adult, adorned with ornaments gifted by clients, customers, friends and family over the years, which make this holiday season particularly special. Wishing my loyal clients and customers, neighbors and friends peace, good health and serenity throughout the holiday season and 2017!
75 West Neck Road – A 3 bedroom, 2 bath 1,358 sq. ft. ranch with association dock rights, listed 7/9/16, sold 12/19/16 for $625K
Penelope Moore
Licensed Associate Real Estate Broker
Office: (631) 749-2300 | Cell: (917) 208-5519 | PMoore@Saunders.com
ShelterIslandRealEstate.com | PenelopeMoore.com nine grand avenue, shelter island heights “Saunders, A Higher Form of Realty,” is registered in the U.S. Patent and Trademark Office. Equal Housing Opportunity.
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Last Listed at $11.5M SO
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Last Listed at $4.775M SO
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Last Listed at $799K SO
Last Listed at $749K
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Last Listed at $1.099M SO
Last Listed at $895K
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Last Listed at $2.195M SO
Last Listed at $1.575M SO
Last Listed at $4.75M SO
Last Listed at $2.795M SO
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Last Listed at $695K SO
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Last Listed at $4.445M SO
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Last Listed at $3.5M SO
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Last Listed at $1.99M SO
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Last Listed at $985K SO
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Last Listed at $749K SO
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Last Listed at $675K SO
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penelope moore exclusives
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Last Listed at $4.125M SO
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Last Listed at $2.695M SO
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Last Listed at $1.895M SO
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Last Listed at $899K SO
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Last Listed at $765K SO
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Last Listed at $665K SO
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HARBOR FRONT ESTATE WITH BOAT BASIN & DOCK
SMITH COVE TRADITIONAL WITH DOCK & POOL
PRISTINE SCANDINAVIAN FARMHOUSE WITH DOCK
Exclusive $6,250,000 7LariLane.com
Exclusive $4,750,000 22MerkelLane.com
Exclusive $3,200,000 121-140WestNeckRoad.com
Last Listed at $2.695M SO
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Last Listed at $1.9M SO
MODERN WATERFRONT WITH POOL
FINDING NEVERLAND
WATERFRONT WITH DOCK & POOL
EAST MEETS WEST POND FRONT
Exclusive $2,795,000 31BDickersonDrive.com
Exclusive $2,449,000 16WestmorelandDrive.com
Exclusive $2,275,000 2HagarRoad.com
Co-Exclusive $1,649,000 17CongdonRoad.com
RAM ISLAND ADJACENT TO PRESERVE
HEIGHTS 1896 FARMHOUSE
ARTIST'S MID-CENTURY MODERN
COMMERCIAL-BUSINESS OPPORTUNITY
Exclusive $1,550,000 62SouthRamIslandDrive.com
Exclusive $1,395,000 47NewYorkAvenue.com
Exclusive $1,395,000 14LindaRoad.com
Exclusive $1,325,000 18ManwaringRoad.com
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Last Listed at $899K SO
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Last Listed at $699K SO
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Last Listed at $649K Last Listed at $699K SO
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CALIFORNIA STYLE MODERN PASTORAL 1889 HISTORIC FARMHOUSE TURNKEY ON 1.2 ACRES HISTORIC 1850'S TRADITIONAL Exclusive $1,250,000 Exclusive $925,000 Exclusive $898,000 Exclusive $895,000 Last Listed at $589K Last Listed at $399K Last Listed at $395K Last Listed at $475K Last Listed at $829K 166NorthFerryRoad.com 25GreatCircleDrive.com 2HudsonAvenue.com 14GreatCircleDrive.com
Penelope Moore
Penelope Moore
Licensed Associate Real Estate Broker
Licensed Associate Real Estate Broker
Office: (631) 749-2300 | Cell: (917) 208-5519 | PMoore@Saunders.com | ShelterIslandRealEstate.com
Office: (631) 749-2300 | Cell: (917) 208-5519 | PMoore@Saunders.com | ShelterIslandRealEstate.com
CLOSE PROXIMITY TO BEACH AND HEIGHTS
3.1 ACRES IN ESTATE SECTION
Land | .92 Acre Convenient to Sunset Beach, Shelter Island Country Club, fine dining and ferry Exclusive $339,000 | 68NorthMenanticRoad.com
Land | 3.1 Acres Bordering Gardiner's Bay Country Club Exclusive $585,000 | 6DeringWoodsRoad.com
We Need Homes Too! Please contact our friends at Gimme Shelter Animal Rescue (631) 903-9215 | info@gimmeshelteranimalrescue.org | GimmeShelterAnimalRescue.org
Terasa
Ranger & Riley
Peyton
Manny
Bobby
Rodger
Annie
Aaron
Penelope Moore
Licensed Associate Real Estate Broker
Office: (631) 749-2300 | Cell: (917) 208-5519 | PMoore@Saunders.com | ShelterIslandRealEstate.com As a licensed real estate broker, Saunders & Associates is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. Saunders & Associates encourages and supports an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin. While this information is believed to be correct, it is presented subject to errors, omissions, change and withdrawal without notice. All material presented here is intended for informational purposes only and all outlines are approximate. Real Estate statistics provided by LiRealEstateReport.com “Saunders, A Higher Form of Realty� is registered in the U.S. Patent and Trademark Office.