The red hot North Fork real estate market once again caught the attention of the New York Times real estate section in a recent piece entitled “The North Fork Has a New Name: NOFO.”
The story, which appeared online July 14 and in print July 16, summarizes the appeal of the North Fork for all the usual reasons (proximity to beaches, fresh produce, etc.) It also notes that home prices here are rising, but still about half what they are on the South Fork. The median home price on the North Fork is $487,500 compared to about $1 million on the South Fork, according to Judi Desiderio, chief executive of Town & Country Real Estate.
An interesting factoid mentioned in the piece is that Southold Town has issued 38 permits for single-family dwellings from January through May in 2017, up from 24 for the same period last year.
As Sheri Winter Clarry of The Corcoran Group noted, “People are coming to the North Fork at earlier stages in their lives,” because it offers a somewhat affordable and desirable lifestyle.
However, the article’s title did give us pause. NoFo is not a new term and it’s one that irks many locals and long-time residents.
And then the ending of the piece made me laugh.
Ellen Coster and her husband, Morris Isaac, of Cutchogue speak of how they plan to sell their Cutchogue property and move to the new 55 and older condo subdivision Harvest Pointe, which will officially open for sales later this summer. The couple say they want to scale down, but don’t want to move to Riverhead which Coster said has, “too much congestion.”
Route 58 is busy, but compared to say, the Belt Parkway or the Van Wyck Expressway, it is still pretty manageable.
However, when contrasted with Cutchogue’s bucolic Oregon Road or Bridge Lane, it’s easy to see Coster’s point of view