Northport, NY: A Charming Village with a Competitive Real Estate Market

Nestled on the North Shore of Long Island, Northport offers a perfect blend of small-town charm and coastal living. With its competitive real estate market and vibrant community life, Northport has been attracting attention from homebuyers and investors alike. Let’s dive into what makes Northport an appealing place to call home in 2024.

Northport’s Thriving Real Estate Landscape

According to Redfin’s latest data, the Northport housing market is very competitive, showing strong growth and demand.

Key real estate trends in Northport include:

• Median sale price: $980,000 (August 2024), up 6.4% from last year
• Median price per square foot: $774, up 113.2% since last year
• Average time on market: 18 days, down from 26 days last year
• Number of homes sold in August: 4, down from 10 last year

Market Competitiveness

The Northport market is characterized by:

• Many homes receiving multiple offers, some with waived contingencies
• Average homes selling for about 3% above list price
• Hot homes selling for about 10% above list price and going pending in around 12 days

Living in Northport: Community and Education

Northport offers a range of community amenities and quality education options for residents:

Schools

Northport is served by local school districts. Notable schools in the area include:

• Ocean Avenue School (Public, K-5, 352 Students)
• Norwood Avenue School (Public, K-5, 434 Students)

Migration Trends

Northport is experiencing interesting migration patterns:

• 3% of homebuyers searched to move into Northport from outside metros
• 69% of Northport homebuyers searched to stay within the Northport metropolitan area
• Top inbound metros: Sheboygan, Pittsburg, and Visalia
• Top outbound destinations: Miami, Philadelphia, and Boston

Climate Considerations

When considering real estate in Northport, it’s important to be aware of potential environmental factors that could impact homes in the area, such as floods, fires, wind, and heat.

Looking Ahead: Northport’s Future

As we look to the future, Northport seems poised for continued growth. Its competitive housing market, charming village atmosphere, and coastal location make it an attractive option for a diverse range of residents.

However, potential residents and investors should be aware of some considerations:

• The highly competitive real estate market may require quick decision-making and strong offers
• Rising home prices and a significant increase in price per square foot may impact affordability for some buyers
• The decrease in the number of homes sold suggests a potential supply constraint

Conclusion

Northport offers a compelling blend of coastal living with a competitive real estate market and small-town charm. Whether you’re considering a move to Northport or looking to invest in the area, this Long Island village provides a balance of residential comfort with potential for growth and appreciation.

From its hot real estate market to its well-regarded schools and proximity to the Long Island Sound, Northport remains an attractive destination for those seeking a suburban Long Island experience with a touch of coastal charm. As it continues to evolve, Northport may offer increasing opportunities for both residents and investors looking for a slice of Long Island’s North Shore lifestyle.