There’s only so much coastline on Long Island. We have The Long Island Sound, The Great South Bay, The Atlantic Ocean, Harbors, Canals, and Lakes, but they are not infinite. On Long Island, we have much more Inland properties than waterfront properties.
Admittedly Waterfront Property is very hard to “comp out” as a Realtor because of their uniqueness factor. The fewer the properties to compare it to, the more difficult it is to determine the fair market value. When purchasing a Waterfront home, buyer’s have to determine what is more important…the Waterfront Property or the house. A house can be redone but the Waterfront is what it is. We believe that Waterfront Properties tend to be one of the most challenging listings. At the most basic level, the value of Waterfront Property is the price the market will bear.
On average, Waterfront homes have held their value better than the other homes, but there are many factors involved. Some of the factors that influence pricing are:
- Waterfront Footage
- Access To Water
- Docks/Slips For Boats
- What Homes Are Selling For In The Area
- Property With Bluff
It should come as no surprise that Waterfront Homes can command a premium, but as shown above that premium has many variables. So, if you’re looking to buy or sell a Waterfront Property on The North Or South Shore Of Long Island, contact Realtor’s Lawrence and SheilaAgranoff at our Cell: 631-805-4400 and find out what opportunities are available for you. We can enroll buyers in a website that you can tract Waterfront Properties as they become available or ones that are already listed for sale.
Thinking of selling your North Shore Long Island home? Interested in finding out the current market value of your single family home, condo or 55+ property? Then call Realtor’s Larry & Sheila to discuss what is happening in today’s North Shore Real Estate Market.