South Fork
The South Fork reported 354 single-family home sales in Second Quarter 2026, a 16% decline from a year ago. The drop was enough to put the number of reported closings at their lowest second-quarter number in more than ten years. It also marked the second consecutive quarter of year-over-year decreases, following a five quarter stretch with higher or steady sales. Across the South Fork, eight of the 14 submarkets posted year-over-year declines in reported closings, with several showing steep pullbacks. Nearly all submarkets west of the canal saw annual declines, except Westhampton Beach, which saw no change. East of the canal, results were more mixed. East Hampton Village more than doubled its reported closings, up 114% year-over-year, from a low point one year ago to the second-highest figure in more than three years. Shelter Island and Water Mill also had notable increases, up 42% and 23%, respectively. However, other hamlets saw pronounced declines: Amagansett dropped 41%, Bridgehampton/Sagaponack fell 36%, and Montauk slid 30%. Southampton Village experienced the largest fall, down 44% year-over-year to its lowest second-quarter figure in at least 10 years. Despite the broad decline in sales, pricing strengthened meaningfully. Median price rose 26% year-over-year to $2.4M and average price climbed 15% to $3.857M. However, sales volume was down 3% because of the nominal decrease in closings. Across the region, six submarkets posted year-over-year dollar volume gains, while eight moved in the opposite direction. Shelter Island saw the most dramatic gain with more than three times as much dollar volume as a year ago. This increase was driven in part by two reported sales at or above $10M whereas a year ago no sales exceeded that threshold. Shelter Island also reported the largest percentage increase for both average price and median price. Average price was heavily influenced by a nearly $16M sale, while median price rose as high-end transactions, particularly those over $2M, 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 Second Quarter 2026, South Fork luxury average price jumped 10% to $15.169M The increase was due entirely to one sale at $72M. Without it, average price would have decreased 2%. While the share of sales over $15M stayed the same, an increase in the share of sales under $10M resulted in a 2% decrease in median price to $10.970M. The most expensive sale of Second Quarter 2026 was an oceanfront residence on East Dune Lane in East Hampton Village, which traded for $72M. Sag Harbor/North Haven recorded the highest number of South Fork luxury transactions, with six closings reported during the quarter. The average luxury sale price for the North Fork swelled 77% annually, and median price grew 82% year-over-year. The median increase was due to a greater share of sales over $3M. While 77% of North Fork luxury sales this year were over $3M, just 22% were a year ago. The highest-priced North Fork sale was a 78-acre Peconic compound with direct access to a deep-water creek off Little Peconic Bay that closed for $15M.
