South Fork
The South Fork reported 373 single-family home sales in First Quarter 2026, down 17% from a year ago. This reversed a five-quarter trend of higher or steady sales, the longest such streak since 2021. The four submarkets west of the canal experienced year-over-year declines in the number of reported closings or remained unchanged. However, four of the ten hamlets east of the canal reported robust double-digit gains. Southampton Village had the largest percentage increase with 28% more reported sales than a year ago. Meanwhile, East Hampton Village and Amagansett sat at the opposite end, reporting 45% fewer sales each. Median and average price climbed 21% and 18%, respectively, but sales volume inched down 3% because of the decrease in closings. Across the region, six submarkets posted year-over-year dollar volume gains, while eight moved in the opposite direction. Bridgehampton/Sagaponack saw the most dramatic gain with more than twice as much dollar volume as a year ago. This increase was driven in part by three sales at or above $20M, including one at $58M, whereas a year ago no sales exceeded that threshold. Amagansett saw the steepest decline, with dollar volume sliding 62% because one $70M sale last year skewed the number. Median price increased 21% to $2.4M, driven by annual gains in 10 of the 14 South Fork submarkets. Average price also increased, rising 18% year-over-year. Bridgehampton/Sagaponack posted the largest percentage increase for both price metrics. Average price was heavily influenced by the $58M sale, while median price rose as high-end transactions, particularly those over $5M, made up a larger share of the market.
North Fork
North Fork single-family home sales fell 5% year-over-year, a difference of six deals, to 110 reported closings. This was the second-slowest first quarter in the past decade, with activity coming in 23% below the ten-year first-quarter average of 143. Though the number of overall sales declined, half of the six submarkets reported annual increases. Mattituck/Laurel showed the strongest growth, adding six additional sales. The three submarkets that experienced declines, Aquebogue/Jamesport, Cutchogue, and Southold/Peconic, all had five to six fewer sales than a year ago. Only two of the six submarkets experienced an increase in dollar volume. Despite posting a double-digit increase in sales, Greenport dollar volume declined 1% to $11.306M. Mattituck/ Laurel volume increased most significantly, up 32%, largely due to the increase in sales given that average price increased only 3%. Overall median price was driven down 12% because of a growing share of sales below $500K. This quarter’s annual decline followed four consecutive quarters with gains. Still, this was only the third quarter in the last six years to report a decline in median price. Aquebogue/Jamesport was the only North Fork submarket with a year-over-year increase in median price, up 6% to $899K.
The Residential Luxury Market
The luxury market is the top 10% of all home sales by price during the quarter. As various factors redefine the high-end market in any given period, price figures may exhibit more volatility than the market overall. However, because the luxury market is a fixed percentage of the overall market, its changes in the number of sales will always match the overall market. In First Quarter 2026, South Fork luxury average price jumped 16% to $14.977M. The number of transactions above $20M expanded significantly, rising from just four last year to eight this year. This increased concentration of ultra high-end sales, combined with a reduced share of transactions below $10M, also pushed the South Fork luxury median price up 29% to $11.750M. A year ago, 25 sales below $10M fell within the top 10% of the market; this year, just eight did. The most expensive sale of First Quarter 2026 was an oceanfront residence on Surfside Drive in Bridgehampton, which traded for $58M. Bridgehampton/Sagaponack recorded the highest number of South Fork luxury transactions, with 12 closings reported during the quarter. The average luxury sale price for the North Fork fell 29% annually, and median price declined 28% year-over-year. The decreases were a result of a much smaller share of sales over $3M than a year ago. The highest-priced North Fork sale was a home with 100 feet of bayfront that sold for $4M.
