Eastport, N.Y. Real Estate Market Report Oct., 2019
Have you ever heard the phrase "real estate is hyper-local"? What it refers to is that overall real estate market trends can be up or down, but as you reduce the geographics to regions, states, cities, counties, communities, and neighborhoods, things can vary quite a bit.
That is in great evidence here on the east end of Long Island and especially so where full time residential areas overlap with vacation home destinations.
Eastport is one such hamlet. By and large a full time residential community, it sits just to the west of The Hamptons where median home and sale prices are well into the millions of dollars.
By all counts the full time home sales are greatly outpacing the vacation home market here on eastern Long Island.
Here is a look at how Eastport,Long Island, N.Y. has performed over the last several months
3 Month Market Statistics for Eastport, NY ending September 30,2019
New Listings - There were 4 new listings taken
Current Inventory- 11 homes on market (see homes for sale in Eastport)
Current in Contract- There are 3 Homes in contract
Closed Sales- There were 4 homes sold
Absorption Time- 11 months
Median selling price- $517,000.00
* absorption time indicates how many months it would take the current inventory to be exhausted
(absorbed) if no new listings were added