With nearly two months completed during the fourth quarter of 2017, the market on Shelter Island has been brisk with approximately $23M in sold homes and approximately $12M in properties in contract, based on listed prices, for this period so far.
The activity is consistent with 2016 for the same time frame, with Post Labor Day activity again proving to be more fruitful than the summer season. With consideration to buyers and how they come to purchase on Shelter Island, it appears to continue to be the case that many purchasers have rented either short term or seasonally, have toured, have friends or relatives on the island, are returning to the island after selling a home here previously, or are trading up or downsizing. As much as sellers would like to believe that “there is a buyer sitting somewhere in Dubai browsing listings,” it seems, in most cases, that buyers have fallen in love with Shelter Island through relationships or visits.
Here are highlights of sold properties from October to the present:
• 34 Little Ram Island Drive – Listed 3/1/17 at $4.45M, last listed
at $3.45M, sold 11/17/17 for 3.4M
• 79 North Midway Road – A 6,494 sq. ft. traditional with carriage
house, pool and barn on 6 acres, listed 7/24/17 for $2.995M, sold
10/3/17 for $2.85M
• 26 Margarets Drive – A 5,982 sq. ft. harborfront with dock, listed
6/12/17 for $2.49M, last listed at $2.375M, sold 10/27/17 for
$2.040M
• 14 Margarets Drive – A 4,941 sq. ft. creek front with deep water
dock and pool, listed 10/21/14 for $2.75M, last listed at $2.35M,
sold 10/6/17 for $1.825M
• 2 Hagar Road – A 2,582 sq. ft. creek front with dock, pool and
gardens, listed 9/16/16 for $2.275M, sold 10/11/17 for $1.9M
• 26 Country Club Drive – A 3,750 sq. ft. traditional with pool on
one acre listed 10/28/15 for $1.985M, last listed at $1.59M, sold
10/17/17 for $1.5M
• 5 Sunshine Road – A 2,122 sq. ft. 1860s farmhouse with pool
listed 7/15/17, sold 10/31/17 for $1.45M
• 142H North Ferry Road – A 1987 contemporary listed 4/14/14
for $1.655M, last listed at $1.45M, sold 11/10/17 for $1.325M
• 63 North Menantic Road – A 1,750 sq. ft. farmhouse built in 1900
with pool house and pool, listed 8/19/17, sold 11/17/17 for $965K
• 43 Brander Parkway – A contemporary with pool on .94 acres,
listed 8/10/17 for $950K, sold 11/17/17 for $880K
• 17 Dinah Rock Road – A 2,650 sq. ft. post and beam on one acre
with pool, listed 3/7/16 for $1.050M, last listed at $950K, sold
10/31/17 for $925K
• 25 Great Circle Drive – A 2,187 sq. ft. contemporary with pool, listed
10/30/16 for $925K, last listed at $899K, sold 10/24/17 for $820K
• 14 Great Circle Drive – A 2,180 sq. ft. ranch on 1.2 acres, listed 8/9/16
for $895K, last listed 7/9/17 for $875K, sold 10/27/17 for $837,500
• 16 Glynn Drive – A 1991 post modern on .68 acre, listed 8/5/17
for $830K, sold 11/8/17 for $796K
• 3 Wade Road – A 1,785 sq. ft. high ranch on .62 acre listed 4/11/17
for $595K, sold 10/3/17 for $575K
Thanksgiving is a time to reflect and give thanks. Real estate as a business opens doors, literally, to the lives and hearts of customers and clients, each with their own set of circumstances, goals and needs. I am grateful for the opportunity and the faith that my clientele place in me to guide them in what is sometimes the largest investment they may have or make, and to have the good fortune and honor to meet incredible people.
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