The Hamptons' 'poor neighbor' becomes a real estate hotbed of multimillion-dollar bidding wars

Daily Mail​

2 days ago

The Hamptons are out and East Coasters are moving to its cooler, quieter, slightly 'poorer neighbor' - the North Fork.
What was once slow paced farm towns has become the new go-to for those who wish to make a home for themselves on Long Island, even if just for the summer.
Realtor Donald Brennan has been a homeowner and resident on the North Fork for 22 years and recently his real estate firm opened up an office there.
He told Daily Mail he's seen major changes in the area and that's in part due to how crowded the Hamptons on the South Fork has gotten.
Families, friends, and retirees from New York City have been traveling down to the Hamptons - just two to three hours away - for generations.
Naturally, as it became more and more popular over time, he said the traffic between New York City and the coastal getaway has become non-stop and the once quiet enclave is now polluted with traffic, parties, and back to back beach houses, leaving little room for new development.
He said the North Fork, which mainly used to be farmland, has been Long Island's best kept secret for years. He'd always thought of it as an arm of Brooklyn.
'There's a really strong connection to Brooklyn as a feeder market.' he told the Daily Mail.
Long Island splits into a 'fork' at the end, creating the appropriately named North and South Forks with the Hamptons located on the South Fork
New Yorkers are now making the move to North Fork in favor of cheaper prices and a quieter life. This 4 bed 2 bath home is listed with Engel & Volkers for $1.075 million
The land in the North Fork allows for more spacious builds and beachfront properties. This 6 bed 7 bath home is listed with Engel & Volkers for $3.6 million
As a long-time Brooklyn resident himself, he noticed that many people preferred the quiet spaciousness of North Fork to the bustling community of the Hamptons on the South Fork.
'Its current environment maybe is not as relaxing as it was 10, 20, 30 years ago,' Brennan said.
In many ways the North Fork offers the nostalgic feel of the Hamptons from decades prior.
'Certainly the North Fork is going to be an experience that you would maybe have enjoyed 20 or 30 years ago on the South Fork,' said Brennan.
'Much quieter, much less traffic on the road,' he added.
Even people who have summered in Montauk or the Hamptons for years are packing up and trading it for Mattituck in favor of lower prices and sprawling landscapes, he said.
'Now we see more of those, either as new buyers or people exiting the South Fork looking for homes on the North Fork,' he said.
Brennan said there's more land, more space for beachfront properties, and more affordable options for families, residents, and retirees.
Donald Brennan (pictured) has resided on the North Fork for over 20 years and now operates his real estate firm there
According to Brennan cottage and bungalow-style homes are most common on the North Fork, but new builds are bringing diverse architecture. This 4 bed 2 bath home is listed with Engel & Volkers for $1.3 million
And the numbers don't lie. According to Engel & Volkers, sales are up significantly on the North Fork, even in just the last year. Single-family home sales are up 17 percent in comparison to 2024.
On top of that, the average sales price has skyrocketed to $1.168 million, an 8 percent increase since 2024. And according to recent reports, those homes aren't staying on the market for long.
Todd Bourgard, the CEO of Douglas Elliman's Long Island, the Hamptons, and North Fork locations, said that his agents are quickly adapting to these quick sales and bidding wars.
'North Fork is now, and always has been, a beautiful place to live,' Bourgard told The New York Post.
'People are discovering it more and more every single day. We're certainly seeing the prices going up, because, like everywhere else, it lacks inventory.'
Brennan said there really is no average homebuyer on the North Fork. People seem to be coming in masses regardless of age. Most are looking for single family homes with four or more bedrooms, swimming pools, and close proximity to the bay.
According to Brennan the biggest issue with the rush of new residents is their desire to change the cohesive landscape of North Fork towns like Mattituck or Southold with populations of 4,200 and 6,600 respectively.
Because there are so many land-buying opportunities and less-expensive homes that have been around for decades, affluent families are using their means to construct new, modern buildings.
The popularity of the South Fork has caused new builds to be difficult and beach front space to be limited. This home on the North Fork is listed with Engel & Volkers for $1.4 million
Brennan said good restaurants and shops have opened in the area over the last decade close to the beautiful beaches. Stairs lead to a beautiful beach on the North Fork of Long Island
Orient Point Lighthouse is seen above. Orient is the eastern-most town on Long Island's picturesque North Fork
He noted in some instances you can tell who's new to the area just by their architecture style.
'It's a little bit easier to see affluence,' he said.
'Those who've been there for a long time, and live in these more humble homes that are, you know, bungalows, or cottages are now maybe sitting side by side with 7,000 square foot modern glass boxes.'
'I think it's jarring for some people,' he said.
But he certainly sees the appeal.
'There's really almost no traffic to speak of through the summer months. Some very good restaurants that have appeared over the last decade or so,' he said.
'So it's a little more relaxed, quieter existence than what most people may be experiencing today on the South Fork.'