By: Alyssa O'Keefe and Abigail Mago
With the colder weather moving in, a day at the beach may be the furthest thing from your mind. However, if you have been considering purchasing a beach house, the “off season” is one of the best times to do so! Here are five reasons why now is the best time to buy on Fire Island:
1. Time is On Your Side
Buying a beach house in the offseason gives you plenty of time to complete any home renovations or improvements ahead of the busy Summer season. With many Fire Island communities prohibiting construction work during the Summer months, you would have to do any renovations before the peak season starts in July. Buying before year’s end will give you enough time to do smaller scale projects like a kitchen or bathroom update, a new deck, or whatever finishing touches the property you select might need.
2. Decreased Competition from other Buyers
Given the current interest rate environment, many buyers have opted to wait on the sidelines before jumping in to making a purchase. This puts those who are ready to buy now in a favorable position, since there is a lower level of competition. If you are able to take advantage of this opportunity, you will have your pick of inventory. Which brings us to our next point…
3. Interest Rates Aren’t Permanent
It may seem counterintuitive to shop now while interest rates are at high levels relative to the last several years. However, if you do opt to take advantage of the lower levels of competition in the market, you can always refinance your mortgage down the line, when interest rates come down again. As the saying goes, “marry the property, date the rate”. Many lenders are even offering incentives allowing you to refinance your mortgage in the future at zero cost. We have been in an extreme sellers’ market for 3 years and we are finally finding a bit more equilibrium. Because Fire Island is such a unique place, with a limited supply of homes, we don’t tend to experience huge gluts of inventory like other markets do, so when the right property comes along, you don’t want to let the opportunity pass you by just because of a temporary condition like interest rates. Plus, as soon as interest rates do start trending downward again, all of those buyers that have been sitting on the sidelines are going to jump right back into the market, creating another frenzy that will likely cause prices to start climbing again.
4. Inventory is still low, but Improving
Whether you are looking for your first beach house, an upgrade, downsize, or rental investment property, there are homes available ranging from adorable “starter” beach bungalows under $1M to immaculate new construction homes priced at $4M and beyond. The Covid frenzy has eased so inventory levels, while still relatively low, are improving, giving buyers more options to choose from than we have seen over the last 3 years.
5. It’s a Great Investment… That you Can Actually Enjoy
While buying a beach house is a luxury, it can also be a great investment. Whether you choose to rent your property out for cash flow, or just hold on to it for appreciation, investing your money in real estate is a great way to build long term wealth. Historical price appreciation for homes on Fire Island has been extremely strong, and during inflationary periods, owning hard assets like real estate is the best way to defend against your money getting devalued by inflation. Best of all, you can enjoy the property and create lasting memories with your friends and family, while benefiting from that wise financial decision.
Whether you decide to buy now or later, we are always here to guide our clients through every step of the buying process. We recognize that it is our privilege to be of service to you. Contact us today to learn more about the current Fire Island real estate market or to schedule a showing at any Fire Island listing from Kismet to Davis Park.
In recent years, the debate of traditionally renting out your home (i.e. through a real estate agent) versus renting through popular vacation booking sites, like AirBnB and VRBO, has received more attention as the vacation rental industry continues to become more popular. We believe when renting out your beach house, there are many more benefits as a homeowner to rent your home through us rather than a booking site and we’ve put together a list of some of these benefits.
We’re here when you need us. First and foremost, we are local! We have two offices in Ocean Beach so if any problems arise for your guests during their stay, our rental agents can go over to your house in a matter of minutes to quickly address any issues for the renters. This is helpful to both you as the homeowner as well as the renters. The renters will get their issues addressed immediately, and we will inform you what is going on and take care of it without you needing to rush out to the island to handle the problem.
Fees & Payment Timing. Another major difference between renting your home through Fire Island Sales & Rentals versus VRBO and AirBnB is when the homeowners collect their money. Through VRBO, the owner doesn’t get paid until the day after the guest checks in. When we book rentals, the owner receives a deposit at the time of booking, which in many cases is months earlier.
VRBO charges 8% to the homeowner (which they break down into 5% commission and 3% payment processing fee). They also charge an additional service fee to the renter, which doesn't come directly from the owner's pocket, but if that same guest were to book their vacation through us, either it would cost them less or the owner would get to keep more of the money in their pocket.
AirBNB used to charge hosts 3% of the rent amount and make the guests pay a variable fee up to 14.2%. Now, they charge hosts 15%, resulting in Fire Island Sales & Rentals being way more competitive than AirBnB from a price perspective. They also charge a service fee to guests on top of the 15% to hosts.
We screen your renters. On AirBnB and VRBO, anyone can book your home at the click of a button. We talk to all of our potential tenants and weed out noisy or destructive groups that would cause a disturbance to the neighborhood and potentially damage your property. We draw on a huge pool of repeat tenants that rent with us year after year, so in many cases we know first hand they will treat your home with care. If a rowdy or destructive group rents your home off of AirBnB or VRBO, there is no one who is accountable to you. If we handle your rental, we do everything possible to ensure that only suitable tenants are placed in your home, and in the unlikely event that an issue arises, we are here to work with you to handle the situation.
Additionally, we also market your home for you by sending out email blasts to thousands of potential renters and promote your rental on our social media platforms, like Instagram and Facebook. We also know the Fire Island rental market very well so we can steer you in the right direction in terms of pricing, and we are extremely helpful in filling a last minute vacancy.
If you are interested in renting out your home, we are here for you! Contact us today to discuss what your home could generate in weekly, monthly, or seasonal income.
Rental season is just around the corner! If you’re a homeowner who takes advantage of the lucrative rental market on Fire Island, we’ve put together a list of some tips to get your home rental ready for a successful summer.
- Cleaning: Give the whole space a deep clean before the rental season begins!
- Routine Maintenance of AC & Appliances: To avoid having to make maintenance calls while renters are at your home, it’s worth checking to make sure the AC’s work and if any air filters need to be replaced before your first rental checks in. This is also a good time to clean the grill and replace any grill brushes from last season.
- Check Kitchen Items: Since most people are renting for at least a week at a time, we can assume that they’ll be cooking a lot of their meals at the house as opposed to going out to eat every night. We recommend taking inventory every year of everything and making sure you have a full set of dishes, pots and pans, and utensils. These items will experience a lot of wear and tear since they will most likely be used the most in the house!
- Bike & Beach Items: Take inventory of bikes, beach chairs, and beach umbrellas and see if any need to be replaced and/or fixed and if you just feel you need more!
- Wagons: Note where the wagon can be picked up and where it should be left off when your renters’ stay is over. It may be a good idea to have renters take pictures of the bikes once they arrive and once they leave.
- Permits: Make sure rental permits and the BBQ permit are filed
- Touch ups & repairs: A fresh coat of paint goes a long way to brighten up your space! Make sure all door handles are working, windows and doors are opening and closing properly, etc.
- Linen Inventory & Replacement: Good quality sheets and towels are important to renters. Since these items tend to get worn out the quickest, it’s a good idea to inspect them and see what needs to be replaced.
- Pool Maintenance: If your home has a pool, have it cleaned and make sure the filtration is working properly and the shock treatments are done.
- Welcome Packet: Putting a packet together for your renters with information like the bike lock codes, wifi, how to access the TV channels/streaming, etc. can go a long way. A list of the local shops, restaurants, and bars are always appreciated by the renters too as they love recommendations of the locals’ favorites.
These are just some punch list items to get you started before summer officially begins. We wish everyone a successful summer rental season!
The flowers are blooming, the chill is finally leaving the air and the sun is setting after 6 PM. The first signs of Spring are officially here! With warmer temperatures around the corner, it’s the perfect time to start planning the opening of your Fire Island home for the season.
One of the first steps to take in opening your home is scheduling with your plumber for your water to be turned back on. Once we have moved past freezing temperatures, it’s safe to turn the water back on in your home. Keep an eye on the forecast when planning your water turn-on.
Note: In Seaview, the water will be turned on by the Seaview Association no later than April 15th.
With the warmer weather on the way, landscaping may also come to mind. Spring is the perfect time to schedule a yard clean up. If you are planning to incorporate some new landscaping or hardscaping this year, now is the time to start planning those improvements before Summer gets in full swing and it becomes too hot to plant.
Whether you are renting out your home or using it for your own enjoyment, it's important to make any necessary repairs before the summer season comes around! Beyond any needed repairs, sprucing up your house with a fresh coat of paint on your walls and power washing the exterior can make a big difference in its appearance. If you have stored your bedding, linens and towels for the winter, now is a good time to take inventory to ensure you are well equipped for the season ahead.
Lastly, it doesn’t hurt to check on the condition of your bikes, wagons and beach chairs now, so that you have ample time to repair or replace any of these beach life necessities well before the prime summer season! Given Covid’s disruption of many supply chains, it can take longer for goods to be delivered so make sure to plan ahead for your needs.
We are looking forward to seeing everyone back on our favorite island soon!
Below is a list of vendors who can assist in the opening of your home:
Plumbers:
LOVE the Plumber - (631) 583-5612
Fire Island Plumbing Co. - (631) 583-6500
Remy’s Lighthouse - (631) 583-5411
Landscapers:
Fire Island Landscaping - (631) 383-8395
Island Nursery & Landscaping - (917) 575-5251
Fazio Landscaping - (516) 510-0807
Propane:
Beach Propane - (631) 583-6500
LOVE the Plumber - (631) 583-5612
Ocean Beach Hardware - (631) 583-5826
Cleaners:
Sunshine Cleaning - (631) 767-4386
Martha Vega - (718) 908-1091
Fairy House Mother – Fire Island Home Concierge Service
Phone: 917-968-1007
Email: Sabrina@fairyhousemother.com
Please feel free to contact us if you have any questions. We are happy to be of service to you!
As summer is fast approaching, your kids must know what that means...summer camp! Ocean Beach Youth Group is open for enrollment and they are offering an enrollment discount for anyone who signs up before April 1.
The safety of your children is very important which is why OBYG is taking every precaution to ensure they execute a fun experience while adhering to all COVID protocols and guidelines. Check out their registration letter to learn more about their new programs they announced for their youngest and oldest campers.
Whether you sign your kids up for a full season or a monthly session, Ocean Beach Youth Group will be a place where they will make tons of memories. The sessions dates run as the following:
Full Season: June 28 - Aug. 20, 2021
July Session: June 28 - July 30, 2021
August Session: Aug. 2 - Aug. 20, 2020
Enroll today to save! Be sure to check their website as they continue to update it with more information including their camp calendar. We can't wait to see you all this summer!
Congratulations! You listed your home, accepted an offer and went under contract. Now what? Below is a list of items to tackle ahead of closing to ensure a smooth transaction. Please do not hesitate to reach out to us at Fire Island Real Estate if you need any further assistance with these task items. We appreciate the opportunity to be of service to you!
Before closing:
- - Remove any artwork, personal effects and excluded items, if applicable, from your home.
- - Transfer Flood Insurance Policy, if applicable. In most cases, the buyer will want to assume your flood insurance policy. Your insurance broker will coordinate the policy assumption. If the buyer is not assuming your policy, cancel coverage one day after closing to avoid any lapse in coverage.
Utilities:
- Electric:
- PSEGLI - (800) 490-0025
- Once you have a set closing date, contact PSEGLI with your account information readily available to set your service to switch over to the new homeowner for the day of your scheduled closing.
- Water:
- Call Suffolk County Water Authority to close your account as of your closing date. (631) 698-9500
- Please note this does NOT APPLY to homes located in Ocean Beach and Seaview. Water is included in Village of Ocean Beach taxes and Seaview Association Dues, so no separate account is necessary in those towns.
- DirecTV/Dish
- Please close your Direct TV or Dish TV account
- Remember to remove all DirecTV or Dish Network cable boxes and remotes before closing and send back to your provider. If you don’t return your equipment, they will charge your account.
- DirecTV - (800) 531-5000
- Dish Network – (800) 333-3474
- WiFi:
- Verizon Fios – (800) 837-4966
- Call customer service to cancel your account. Remove your router and send back to Verizon. If you don’t return your router, they will continue to charge your account.
You may want to provide the buyer with a list of the vendors you currently use to service your home (i.e. plumber, handyman, landscaper, cleaning service, etc.). We would be glad to pass this information along to the buyer so that they have the option to continue using the service providers that are familiar with the home.
Keys/Access Codes: Make sure to bring your keys to the closing to give to the buyer. If you are not attending the closing in person, make arrangements with us to provide the keys to the buyer.
Carting:
In the event you need to clear or dispose of contents in your home, you may need a local carting company to assist. Below is contact information for several local carting companies:
Beach Comber Carting
Phone: (347) 234-8531
Cherveny Carting
Phone: (631) 495-5658
Metcalf Carting
Phone: (631) 583-8521
Spoons Carting
Phone: (631) 583-7271
Stang Carting
Phone: (631) 567-7792
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Don’t forget, there is always a place at the beach for you! Be sure to check out our rental options at www.fireislandrealestate.com/for-rent. If you are thinking of selling your Fire Island home, don’t hesitate to reach out to us to see how much your home is worth here.
While the current state of COVID-19 is only allowing us to dine outside, this has always been the way of life on Fire Island! If you're spending the week, weekend, or even just the day on Fire Island you'll definitely want to treat yourself to dinner with a beautiful view! We've rounded up our favorite bayfront restaurants in Ocean Beach where you'll be snapping pictures of the sunset all night.
Right in the heart of town, The Island Mermaid is where causal, elegant dining is embraced through the entire experience. Enjoy incredible views of the Great South Bay while dining. Throughout the summer, The Mermaid hosts events a few nights a week. Check out their website for their event schedule!
Address: 780 Bay Walk, Ocean Beach, NY, Fire Island
Maguire's Waterfront Restaurant
Located on the west end of Ocean Beach, Maguire's is a staple for Fire Island restaurant goers. Sitting outside at Maguire's, you'll have a front row seat to gorgeous Fire Island summer sunsets. Offering great happy hour specials 5 days a week and Lobsterpalooza on Thursdays, any day is a great day to dine at Maguire's!
Address: 1 Bungalow Walk, Ocean Beach, NY, Fire Island
Houser's Bar offers casual Bayfront dining with an extensive menu. You'll feel like you never left the beach in their outdoor dining space that sits on the soft sand. You'll love the tropical atmosphere while taking in the gorgeous views! Be sure to check out their specials!
Address: 785 Evergreen Walk, Ocean Beach, NY, Fire Island
Part of Houser's Hotel, The Hideaway has the feel of a little French bistro that just so happens to sit right on the Great South Bay. The Hideaway grows fresh herbs right there on the premise that they use to garnish their signature dishes which adds that extra touch of excellence. With great food and wait staff, you'll be sure to enjoy your experience at The Hideaway!
Address: 785 Evergreen Walk, Ocean Beach, NY, Fire Island
You can find Matthew's Seafood Restaurant around the bend on the east end of Ocean Beach just before you enter Seaview. Watch the boats pass by or admire the ones that dock right at the restaurant. Hosting daily specials and events, most notably Margarita Madness on Thursdays! Loved your meal? Head over to Matthew's Market and purchase fresh seafood to bring home!
Address: 935 Bay Walk, Ocean Beach, NY, Fire Island
We hope you enjoy these waterfront restaurants as much as we do and tag @fireislandre in your favorite waterfront, sunset picture to be featured on our social media!
Looking to escape to Fire Island? We've put together a list of available rentals we have to offer for this summer*. Check out the list below and we hope you decide to book your Fire Island stay with us!
Seaview Home Close to the Beach
Bed: 4
Bath: 2.5
Available: July or August
Asking: July $25,000
August $30,000
www.fireislandrealestate.com/property/sv-46r
Ocean Bay Park Home with Ocean Views!
Bed: 4
Bath: 2
Available: August 3 - September 8
Asking: $35,000
www.fireislandrealestate.com/property/obp-29r
Ocean Bay Park Bayfront Bungalow
Bed: 3
Bath: 1
Available: August 1 - September 8
Asking: $24,000
www.fireislandrealestate.com/property/obp-3r
Renovated Seaview Home With Sunny Outdoor Deck
Bed: 4
Bath: 2
Sleeps: 8
Available: June, July 1-26, August 3-23
Asking: $6,000/week
www.fireislandrealestate.com/property/sv-27
Charming Seaview Home With Spacious Decks & Bay Views
Bed: 4
Bath: 1 Full, 2 Half
Sleeps: 9
Available: June, July 1-18, July 27-31, August 1-23
Asking: $4,500/week
www.fireislandrealestate.com/property/sv-4r
Ocean Bay Park Home With Sunny West Facing Deck
Bed: 3
Bath: 1.5
Available: June, July, August
Asking: June $20,000
July $25,000
August $25,000
www.fireislandrealestate.com/property/obp-4r
Gorgeous, Modern Oceanfront Ocean Bay Park Home
Bed: 4
Bath: 2.5
Available: July 1 through September 8
Asking: $112,000
www.fireislandrealestate.com/property/obp-37sr
Fully Equipped Ocean Beach Home with Spacious Deck
Bed: 4
Bath: 2
Available: June, July & August
Asking: May 31 - September 8 $38,000
June $10,000
July $16,000
August $18,000
www.fireislandrealestate.com/property/ob-440
Ocean Beach Home Just a 1 Min. Walk From The Beach
Bed: 3
Bath: 2
Available: June & July
Asking: June $15,000
July $20,000
www.fireislandrealestate.com/property/ob-224r
Updated Ocean Beach Home W/ Great Outdoor Area
Bed: 3
Bath: 1.5
Sleeps: 8
Available: August 10-16, 24-30, and August 31-September 7
Rate: $5,500/wk.
www.fireislandrealestate.com/property/ob-192
Charming Ocean Beach Cottage Just a Minute Walk to the Beach!
Bed: 3
Bath: 2
Sleeps: 6
Available: June1-7, 8-14, 15-21, August 17-23, 24-30, and August 31-September 7.
Rates: $3,500-$5,000/wk.
www.fireislandrealestate.com/property/ob-230r
Completely Updated Ocean Beach Home W/ Pool & Steps From The Beach!
Bed: 4
Bath: 2.5
Sleeps: 10
Available: June 8-15, June 22-28, June 29-July 5, July 20-July 26
Rates: $6,500-$10,500
www.fireislandrealestate.com/property/ob-109r
Extremely Spacious Ocean Beach Home W/ a Pool
Bed: 4
Bath: 3
Sleeps: 8
Available: June 29-July 5, August 17-23, August 24-30, August 31-September 7
Rates: $10,450-$13,750
www.fireislandrealestate.com/property/ob-748
Seaview Home Close to the Beach W/ 3 Decks!
Bed: 3
Bath: 2
Sleeps: 9
Available: June 1-7, 8-14, July 20-26, August 17-23
Rates: $5,750-$6,250
www.fireislandrealestate.com/property/sv-38r
Charming and Centrally Located Ocean Beach Home
Bed: 3
Bath: 2.5
Sleeps: 8
Available: All of June. August 17-23, August 24-30, August 31-September 7.
Rates: $3,250-$4,500
www.fireislandrealestate.com/property/ob-35r
Seaview Home Just a Steps From The Beach!
Bed: 4
Bath: 1.5
Sleeps: 9
Available: August 10-16 & August 17-23
Rates: $5,500/week
www.fireislandrealestate.com/property/sv-49r
Newly Updated Seaview Home Near Ocean Beach
Bed: 3
Bath: 2
Sleeps: 6
Available: June 1-21, June 29-July 12, July 20-August 16, August 24-Sept 13
Rates: $4,600
www.fireislandrealestate.com/property/sv-stu
Luxury Oceanfront Home in Ocean Bay Park
Bed: 5
Bath: 2.5
Sleeps: 12-14
Available: July 3-9, July 17-August 6
Rates: $11,000-$12,500
www.fireislandrealestate.com/property/obp-37r
Modern Ocean Bay Park Home W/ Ocean Views
Bed: 4
Bath: 2.5
Sleeps: 10
Available: June, August 3-9, August 17-30
Rates: $8,000-$10,500
www.fireislandrealestate.com/property/obp-33o
Large Ocean Beach Home W/ Pool & Just 1 House Back From The Beach!
Bed: 4
Bath: 2.5
Sleeps: 10
Available: July 10 - 31
Rates: $12,500/week
www.fireislandrealestate.com/property/ob-560r
Bay & Ocean View Seaview Home
Bed: 4
Bath: 3
Sleeps: 8
Available May 23-June 13, June 28-July 18
Rates: $8,000-$9,000
www.fireislandrealestate.com/property/sv-55r
Just Like New Ocean Beach Home W/ Large Deck
Bed: 4
Bath: 2
Sleeps: 6
Available July 5-12, July 19-26, August 9-23, August 30-Sept 7
Rates: $4,500/wk.
www.fireislandrealestate.com/property/ob-155r
Expansive Ocean Beach Home With Tons of Outdoor Space & Hot Tub
Bed: 3
Bath: 2
Sleeps: 6
Available: July & August
Rates: $6,000/wk.
www.fireislandrealestate.com/property/ob-969r
Ocean Beach Home W/ Lots of Outdoor Space & Close to the Beach
Bed: 4
Bath: 2
Sleeps: 8
Available: June 28-July 31
Rates: $6,000-$6,500/wk.
www.fireislandrealestate.com/property/ob-976r
Oceanfront Ocean Bay Park Home W/ Pool
Bed: 4
Bath: 4
Sleeps: 14
Available: July 10-16, July 31-August 6, August 24-Sept 3
Rates: $14,025/wk.
www.fireislandrealestate.com/property/obp-36r
Completely Redone Ocean Bay Park Home
Bed: 4
Bath: 2
Sleeps: 9
Available: June 1-21, July 20-26, & August 17-23
Rates: $4,500-$5,000/wk.
www.fireislandrealestate.com/property/ob-507
Beautifully Renovated & Centrally Located Ocean Beach Home
Bed: 4
Bath: 2
Sleeps: 10
Available August
Rates: $5,900/wk.
www.fireislandrealestate.com/property/ob-761r
Huge Bayfront Seaview Home W/ Sauna & Separate Gym
Bed: 5
Bath: 4.5
Sleeps: 10
Available: May 29-June12
Rates: $18,000
www.fireislandrealestate.com/property/sv-24
Well Maintained Ocean Bay Park W/ Guest Cottage
Bed: 3
Bath: 2
Sleeps: 8-10
Available: June
Rates: $8,900
www.fireislandrealestate.com/property/obp-74r
Oceanfront Lonelyville Bungalow W/ Incredible Ocean Views
Bed: 3
Bath: 1.5
Sleeps: 6
Available: July & August
Rates: $28,000-$30,000
www.fireislandrealestate.com/property/lly-70r
Renovated Ocean Beach Home W/ Pool & Hot Tub
Bed: 4
Bath: 2
Sleeps: 10
Available: June 29-July 5, July 13-26, August 17-Labor Day
Rates: $9,000-$14,000
www.fireislandrealestate.com/property/ob-119r
Please feel free to reach out to our Rental Agents, Alyssa & Dylan, for any questions or concerns you may have. Be sure to check out more rentals here!
*Available dates are always changing. We will update these dates when the information becomes available to us.
We know that these are uncertain times so we will do the best we can to answer any questions regarding coronavirus and Fire Island.
1. Are the ferries running?
Yes, the ferries are currently running. Be sure to check their website as they have been updated their schedules.
2. Are the beaches closed?
As per New York State executive order, beaches are currently open for "passive use" which means no swimming, no organized sports, or use of public restrooms. You can sit on the beach and must follow social distancing protocols. As of now, lifeguards are expected to be in place.
3. What precautions are the ferries taking to ensure safety for all riders?
The Fire Island Ferries are diligently cleaning the ferries, limiting freight for more seating to social distance, changing the schedules, and requiring you to wear a face mask while aboard. They are also asking that anyone who is sick to NOT get on the ferry. For more updates be sure to follow their social media and check their website.
4. Are all booked rentals cancelled?
There are currently no special restrictions in place for rentals during the summer. However, all renters are encouraged to pay special attention to social distancing regulations. We will post any future updates to regulations, should there be any.
5. Are restaurants closed?
*As of right now, restaurants are scheduled to allow outdoor dining starting on June 10th*
There are plenty of restaurants on Fire Island that are fulfilling delivery and pick up orders. Here is a list of restaurants that are open for pick up or delivery:
- Castaway Bar & Grill, Ocean Beach
- CJ's, Ocean Beach
- Dockside Brick Oven Pizza, Ocean Beach
- Maguire's, Ocean Beach
- Rachel's Bakery, Ocean Beach
- Scoops, Ocean Beach
- Seaview Market, Seaview
- Schooner Inn, Ocean Bay Park
- Surf's Out, Kismet
- Town Pizza, Ocean Beach
6. Are the markets open?
*The markets are starting to let limited amount of people in starting this weekend of 6/5.*
Yes, the markets are also taking pick up orders. Here are the markets we know that are open and will update if we hear more information:
- Ocean Beach Trading, Ocean Beach: Offering curbside pick up and they will bring your order out to you. Open 7:30am-4pm. 631-583-8440
- The Pantry, Ocean Beach: Will be open Mon.-Fri. 8-3 & Sat.-Sun 10-3. Ask them what they have available. They are currently working on a getting a website up and running to fulfill orders. Check back for more updates. 631-583-7467.
- Seaview Market, Seaview: Will be accepting phone orders at 631-583-8482 and will schedule a time for you to stop by and pick up your order outside the store. They are also giving the option to give them a shopping list and stop by the store to pick up your groceries. Open everyday from 7:30 am till about 2 pm.
- Dockside, Ocean Beach: Staying fully stocked with all the essentials needed during this time. Offering an easy call in feature for people to come pick up their goods. 631-583-0303
- Kismet Market, Kismet: Taking orders over the phone or safely at the front doors. Place your orders by calling 631-583-8449.
7. I own a house on Fire Island, am I still able to access it?
There are no legal restrictions preventing you from accessing your home. Local officials are recommending that anyone coming to the island, and intending to stay, should self quarantine for 14 days. Some communities have requested notification if you plan to stay at your Fire Island home. I.e. Seaview - notify the association, Ocean Beach - notify the police
8. Have there been any confirmed COVID cases on Fire Island?
As of April 30, there is one confirmed case in Saltaire.
9. Are you still taking rentals for this summer?
Yes, rentals are still available. Please feel free to check out the available rentals on our website or feel free to contact our rental agents, Alyssa O'Keefe and Dylan Owens.
10. Am I still able to see homes for sale or for rent?
As of right now, we are allowed to do virtual showings only until Suffolk County enters Phase 2 of reopening. We would be happy to walk you through any of our listings via FaceTime, Zoom, Skype, etc. Feel free to contact us if you are interested in seeing a home! Or check out our IGTV channel or our Youtube channel to view our listing videos.
11. Are any of the shops open?
Starting this weekend 6/5, shops are letting limited people in at a time
Here is a list of the shops that we know are open but are taking orders:
- Flair House, Ocean Beach: Check out their website to see what's in stock and call or text them to place an order. They are now offering curbside pick up.
- Fire Island Outfitters, Ocean Beach: Opening their doors when Phase 2 begins.
- Salty Stitch, Ocean Beach: Opening their doors when Phase 2 begins.
- FiveEightThree/Bambootique, Ocean Beach: Opening their doors when Phase 2 begins.
Prepared By: Abigail Medvin Mago, Licensed Associate Broker
February 28, 2020
ISLAND WIDE DATA
Coming off of 2018’s record performance in terms of average and median sale prices, the 2019 Fire Island real estate market saw a moderate slow down. While the island wide average and median sale prices decreased year over year, transaction volume was up 6% year over year, suggesting continued market strength despite the average and median price declines. The average sale price island wide declined from 2018’s all-time high of $907,042 to $804,441 in 2019, representing an 11% year over year decline. To provide some historical context, the average sale price over the last 14 years has been $778,050, which is 3% lower than 2019’s average.
While the average sale price did decrease from 2018 to 2019, the number of homes sold increased by 9%. 145 Fire Island homes were sold in 2019, as compared to 133 in 2018. Over the last 14 years, on average 105 homes have changed hands in a given year. With 145 transactions in 2019, that represents transaction volume of 38% greater than average. Since I began data collection in 2006, only 2016 and 2017 saw a larger number of transactions than 2019, with 157 and 147 sales taking place, respectively.
The lowest priced Fire Island property sold in 2019 was $150,000, as compared to 2018’s lowest priced sale of $100,000. The most expensive property sold in 2019 traded for $2,200,000, which is 42% lower than the most expensive sale closed in 2018 of $3,800,000, and 15% lower than the 14-year average high price paid of $2,596,643. While it should be noted that 2018’s $3,800,000 sale was of a commercial property, not a residence, the high end of the market was significantly less active in 2019 than is commonly seen, with only 6 sales occurring above the $1.5M mark, and only 2 of which breaking the $2M mark. By comparison, in 2018 15 sales occurring at or above the $1.5 million mark and 7 sales occurring at or above the $2 million mark.
An additional indicator of stronger market activity in the middle segment rather than the high end can be seen when comparing the average and median sales prices. The median sale price in 2019 was $750,000, a 2% year over year decrease from 2018’s median sale price of $765,000. 2019’s average sale price was 7% higher than its median sale price, while 2018’s average sale price was 16% higher than its median sale price. In 2017, a year which also saw unusually little activity at the high end of the market, the average sale price was only 6% higher than the median sale price. The higher the average sale price relative to the median sale price, the greater the activity at the high end of the market, causing the average to skew upwards. The graph below compares the average and median sale prices from 2016 – 2019.
To put the 2019 market data into perspective, it is helpful to look at sales figures relative to the entire period of data collection in addition to comparing to the previous year’s performance.
PRICE SEGMENT ANALYSIS
The 2019 market was largely driven by the middle segment of the market, with more than a third of the year’s total sales occurring in the $750,000 - $1,000,000 price bracket. Because the total market size is relatively small, outlier high end sales can have a relatively large influence on the average sale prices, making the average metric not the best indicator of market performance. When breaking down each year’s sales into price segments, some interesting trends can be observed. The chart below shows sale count by year, broken down by $500,000 sale price increments.
The proportion of home sales under $500,000 has been steadily decreasing since 2013 when it topped out at 42% after Hurricane Sandy. In 2019, only 12% of homes sold at a price below $500,0000. Since 2006, the under $500k price segment has represented, on average, 24% of sales. The vast majority of 2019 home sales fell in the $500,000 - $1 million price segment, representing 72% of sales, as compared to 62% in 2018 and an average proportion of 58%. 12% of homes sold were between $1 million and $1.5 million, which was the same in 2018, and slightly above the average proportion of 11% of sales. 3% of 2019 sales were between $1.5M and $2M, which is just under the typical average of 4%. Only 1% of sales were in the $2M - $2.5M price segment, whereas typically 2% of sales fall into that segment.
TOWN BY TOWN ANALYSIS
In addition to looking at the island’s overall market performance, it is useful to examine the data on a town by town basis.
ATLANTIQUE
Atlantique saw no sales activity in 2019. A small community, Atlantique usually sees 1 sale per year. The average sale price over the past 12 years in Atlantique is $589,323.
CHERRY GROVE
Cherry Grove saw weaker market performance in 2019, with 10 homes trading, as compared to 16 homes in 2018 and a historical average of 13 per year. The average Cherry Grove sale price in 2019 was $485,000, which was down 23% from $628,933 in 2018, and down 9% from the 13-year average sale price of $535,573. The least expensive Cherry Grove property to trade in 2019 was $150,000, down 55% from 2018’s lowest price of $335,000.
CORNEILLE ESTATES
Corneille Estates saw a dramatic increase in activity in 2019, with 5 homes trading, whereas 2 sales per year is average for the community. While number of transactions was up 150%, the average sale price declined significantly year over year. The 2019 average sale price was $846,950 which is 26% lower than 2018’s average sale price of $1,142,000, but still 14% higher than the last 14 year’s average sale price of $739,890. 2019’s lowest price Corneille Estates sale of $644,200 was 36% lower than 2018’s lowest price sale of $999,000. The highest price paid for a Corneille Estates home in 2019 was $983,000, down 24% from 2018’s high price of $1,285,000, but still 24% higher than the 14-year average high price of $794,654.
DAVIS PARK
Ten sales took place in Davis Park in 2019, which was down from 2018’s record high of 16, but still 67% higher than the average year which sees only 6 sales. The average sale price dipped by 7% from $588,725 in 2018 to $546,980 in 2019, but was still 5% higher than an average year. The highest price paid for a home in Davis Park in 2019 was $999,000 which was an 18% decrease over the previous year, but still 28% higher than the average highest price paid in the last 14 years.
DUNEWOOD
Dunewood had 2 home sales in 2019, which is typical for the community, but down from 3 sales in 2018. The average sale price in 2019 was $1,245,000 which is 26% lower than 2018’s average sale price of $1,678,335, but still 42% higher than the 14-year average of $879,685. The highest price paid for a home in Dunewood in 2019 was $1,550,000 which is 39% higher than the 14-year average high price paid of $1,116,667.
FAIR HARBOR
Fair Harbor had 13 sales in 2019, which is down slightly from 2018’s 14 sales but still 44% higher than the 14-year average of 9 sales per year. The average sale price was down 22% year over year, to $724,869 in 2019 from $926,946 in 2018, but still 6% above the historical average sale price of $682,318. The highest price paid in Fair Harbor in 2019 was $1,300,000, which is 35% lower than the highest price paid in 2018 but still 15% higher than the highest price paid in an average year. The lowest price paid in Fair Harbor in 2019 of $510,000 is 3% lower than the lowest price paid in Fair Harbor in 2018 of $525,000.
FIRE ISLAND PINES
The Pines saw 25 sales in 2019, down from 29 homes sold in 2018. An average year sees 20 Pines homes trade hands. The average sale price declined 15% from $1,008,792 in 2018 to $858,202 in 2019, which is 14% lower than the historical average of $1,002,166. The highest price paid in the Pines in 2019 was $2,200,000, which was tied with a sale in Ocean Bay Park for the most expensive home sale on the island in 2019. This figure is down from $2,485,018 in 2018, and 3% less than the 14-year average high sale price of $2,257,894.
KISMET
Kismet saw market improvement from 2018 to 2019 with 7 home sales in 2019 as compared to 4 in 2018. The historic average for the community is 5 sales per year. The average sale price also increased by 3%, from $671,250 in 2018 to $688,500 in 2019. The lowest price paid for a Kismet home was 81% higher in 2019 than in 2018, and 39% higher than in an average year. The highest price paid in Kismet in 2019 was $900,000 which is a 10% decline from 2018’s high price paid of $995,000.
LONELYVILLE
Lonelyville saw no market activity in 2019, with no homes trading hands. A small community, on average over the last 14 years, only 1 home sells per year. Lonelyville’s 14-year average sale price is $748,198.
OCEAN BAY PARK
Ocean Bay Park saw a dramatic increase in transaction volume, with 19 sales taking place in 2019, as compared to 10 in 2018, and 8 in a typical year. While sale count was way up, the average sale price did decline by 15% from 2018’s record high of $973,745 to $827,907 in 2019. Despite the year over year drop, 2019’s average sale price is still 46% above the average sale price over the last 14 years, which is $565,194. The lowest price paid for an Ocean Bay Park home in 2019 was $500,000, down 9% from 2018’s lowest price paid of $550,000, but still 76% higher than the average lowest price paid over the last 14 years of $283,607. The highest price paid for a home in Ocean Bay Park in 2019 was $2,200,000 which, tied with another $2.2M sale in the Fire Island Pines, was the priciest sale of the year, island-wide, as well as the highest price paid in Ocean Bay Park to date. This is 10% higher than 2018’s high price paid of $2,000,000, (which was the previous record high sale for Ocean Bay Park) and 110% higher than the 14-year average high price paid of $1,046,714.
OCEAN BEACH
Ocean Beach transaction volume was strong in 2019 with 26 homes trading, up 24% from 21 sales in 2018. Over the last 14 years, an average of 21 homes change hands in a given year, making 2019’s sale count 25% greater than is typical. While sale count was up 24% year over year, the average sale price declined by 9%, from $894,230 in 2018 to $809,908 in 2019, which is 18% higher than the historical average sale price of $686,510. The highest price paid in Ocean Beach in 2019 was $1,730,000, which is a record for residential property in Ocean Beach. In 2018, the most expensive property to sell was a $3,800,000 commercial property. The highest price paid for an Ocean Beach residence in 2018 was $1,185,000, representing a 46% year over year increase in the highest price paid for a residence. The lowest price paid for an Ocean Beach home in 2019 was $375,000, down 3% from 2018’s low price of $385,000.
ROBBINS REST
After no home sales in 2018, one home changed hands in Robbins Rest in 2019 which is typical for the small community. 2019’s average sale price was $985,000, up 26% from the historic average sale price of $782,204.
SALTAIRE
Coming off of an extremely weak year in 2018, the Saltaire market improved both in terms of sale count and average sale price. Sale count was up 150% year over year, from 2 sales in 2018 to 5 in 2019. Traditionally considered one of the most desirable communities on Fire Island, Saltaire usually sees 10 homes trade a year with some of the highest price points island wide. The average sale price was up 37% from $775,250 in 2018 to $1,065,000 in 2019.
The lowest price paid for a Saltaire property in 2019 was $500,000, which was 22% lower than the 2018 low price paid of $645,000, and 11% higher than the 14-year average low price. The highest price paid was up 55% from only $905,500 in 2018 to $1,400,000 in 2019, which is 24% below the 14-year average high price paid of $1,838,500.
SEAVIEW
17 homes changed hands in Seaview in 2019, which is a 55% increase over 2018’s 11 sales and 70% more than the 14-year average sale count of 10. Despite the spike in transaction volume, the average sale price declined by 12% from $1,081,591 in 2018 to $947,309 in 2019, which is 9% below the 14-year historical average of $1,037,795.
The lowest price paid in Seaview in 2019 was $531,248 which is 26% less than 2018’s low price of $715,000, and 6% below the historical average low price of $564,196. The highest price paid in Seaview in 2019 was $1,400,000, down 41% from 2018’s high price of $2,372,500. The 14-year average high price paid in Seaview is $1,955,464, which is 28% higher than 2019’s high price paid.
SUMMER CLUB
Sales count doubled in the Summer Club from 2 sales in 2018 to 4 sales in 2019. An average year sees 3 homes change hands in the small community. 2019’s average Summer Club sale price was $849,875, which is a 24% decline from 2018’s average sale price of $1,123,750, but 9% higher than the historical average sale price of $779,219. The lowest price paid in the Summer Club in 2019 was $550,000 as compared to $1,100,000, in 2018, although it should be noted that the 2019 sale was of vacant land. The highest price paid was up by 13% to $1,300,000, which is 31% higher than the 14-year average high price paid of $995,722.
WATER ISLAND
Only one home sold in Water Island in 2019, for a sale price of $1,300,000. 2018 also saw only one home sale in Water Island, at a price point of $1,500,000, representing a 13% year over year decrease, and a 3% premium over the 14-year average sales price of $1,267,042.
CONCLUSION
With both the average and median sale prices reaching record levels in 2018, the Fire Island real estate market saw prices leveling off in 2019. However, the increased number of transactions is indicative of the continued streak of strong performance that we’ve been experiencing since 2016. The market was largely driven by activity in the $750,000 - $1 million price point, which is a departure from 2018’s market dynamics being driven principally by the high end.
Because the Fire Island real estate market does not function like a traditional real estate market with a centralized multiple listing service, reliable market data is not readily available to the public. Our annual market reports are published in an effort to address that. Both buyers and sellers are served by being fully informed about the market in which they are considering transacting. Please do not hesitate to contact me at abigail@fireislandrealestate.com if I can provide any further information, or if I can be of help to you in the sale or purchase of your Fire Island home.
METHODOLOGY
Please note that all information herein is deemed reliable but not guaranteed. The information is sourced from public real estate transaction records. Sales data reporting has a lag of approximately 90 days. Due to this lag, there may be some outstanding sales that closed late in 2019 but have not yet been reported and are therefore not reflected in this report. All historic data refers to the period between 2006 and 2019.
For those who will be renting or moving in to their beach house on Fire Island this summer, the Fire Island Ferries freight department will be extremely helpful in this process. There are many benefits that a credit card account with the freight department has. Read on for information directly from the Fire Island Ferries freight department that highlight their services that will be beneficial to use throughout your stay on Fire Island.
If you plan on ordering beverages or liquor from the mainland or plan on ordering items online to be delivered to the
dock, through the Fire Island Ferries freight department, visit https://fireislandfreight.azurewebsites.net/ and set up an account with them that you can add a credit card to. This will make the pick-up of these items go a bit more smoothly and, for some towns, prevent the chance of the boat bringing these items back to Bay Shore if you are not on the dock to pay the freight
charge when the boat is in town.
If ordering items online, please use the following format when filling in the shipping address:
Name: Your first AND last name
Address 1: 99 Maple Avenue
Address 2: Fire Island town AND your freight account number
Town: Bay Shore
State: NY
Zip: 11706
The account that you set up will also send a notification the morning that your freight is being shipped (usually around
10:00 am) to the email address on file, allow you to see a history of your shipments and track the freight boat via a
twitter link.
If you are dropping off items yourself, please have everything pre-labelled with your name and destination, packed in a
container (box, tote, cooler, luggage, etc.) and/or protected, if fragile.
For same day delivery, have your items to the freight boat from 7:00 AM - 9:30 AM Monday – Saturday. These times and
days are for mid-April through mid-September. Otherwise, they only accept items Monday – Friday. The freight boat
leaves at 10:00 AM. To locate the freight boat, drive to the end of Maple Avenue (big parking lot), pull into the middle
parking spots and ask a crew member (red shirt) for help.
For next day delivery, you can bring your items to the Bay Shore freight house located in the Fire Island Ferries, Inc. main
terminal (99 Maple Ave., Bay Shore, NY 11706) between 10:00 AM and 5:00 PM Monday – Friday. These hours are
during the summer schedule. In the off season, the crew is only at the Bay Shore freight house until 3:30 PM.
Any questions needing more detailed answers please either check their website www.fireislandferries.com and click the
FREIGHT INFO tab on the right side of the screen, email them at freight@fireislandferries.com or call 631.647.3055.
We hope this information helps you become more familiar with the Fire Island Ferries freight department procedures. Looking forward to seeing you this summer!
It’s no secret that things do slow down a bit during the winter months when it comes to real estate on Fire Island. However, if you're a buyer, that’s not a bad thing. While you may have to break out your ski gear to make sure you're adequately bundled up for your house tours, here are some reasons why it's worth it to trek out to Fire Island to snap up your dream beach house this winter:
- Less Competition
During the holiday season, and throughout the winter months, most people just don't have summer on their minds yet, so that makes for fewer other buyers to compete with. Once spring hits and temperatures start to rise, our office is flooded with calls, so why not get a head start? Since there is less buyer activity in the dead of Winter if you choose to look now, you'll have less competition from other buyers, and the seller may be more receptive to your offer at that time.
- Motivated Sellers
Many sellers tend to be more motivated during the Winter months than they are during the Spring and Summer. During the off season, they're not getting use out of their property, but still have to pay the carrying costs on the home, which may make it a little easier for them to part with. Also, if the property is rented out during the Summer, the seller may view that income as a long way away, whereas once Spring rolls around, they are likely less motivated to sell right before rental season.
- Low Interest Rates
Interest rates are still close to historic lows. The longer you wait, the greater the chances that rates will rise. These low rates may very well last through the Spring, but you just never know.
If you're among the savvy buyers looking capitalize on the advantages of shopping now, we're happy to help- we show by appointment 7 days a week, 12 months a year. Just remember to bundle up!
