Montauk Real Estate
Extending northeast from the Hamptons into the Atlantic Ocean, the narrow peninsula of Montauk has a real estate market similar to yet different from its well-heeled neighbors. Montauk's uniqueness stems from its proximity to nature, which includes not only the sea, but also the preserved lands that cover 70% of Montauk—forests, moorlands and grasses dotted with hundreds of ponds and lakes. Compared to the rest of the Hamptons, Montauk’s topography is very hilly, favoring open vistas of sea and land. A home with an ocean view is not that unusual.
Here are last year's sales statistics for Montauk real estate: In 2014, 110 homes were sold. Of these, almost 50% were in the $500K to $999K range and only five were under $500K. The median home sales price was $933,000, which was up 16% from 2013. According to most real estate brokers, Montauk suffers from a lack of inventory. All that preserved land means less property on which to build homes, and makes existing homes more valuable.
Many home sales are to second homeowners. People are drawn to Montauk for many reasons, but most love the natural world. They are surfers, fishermen, hikers, bikers, and families with children. Montauk charms everyone who comes here. In the words of a 19th century visitor, J.A. Ayres “Montauk's great and peculiar charm is the sense of entire freedom which it inspires, freedom from the conventional restraints of society...freedom from care. There is nothing to recall the busy and anxious scenes of life...”*
Montauk still inspires the 21st century visitor in this way, and to own a piece of this paradise is a great privilege. If you are interested in buying or renting, call one of our experienced local real estate brokers, who know the Montauk market:
What is a home in Montauk worth? It's priceless!
* The Legends of Montauk by J. A. Ayres, 1849
Douglas Elliman Real Estate