THE SCOOP – A one-traffic-light town until about three decades ago, East Moriches is still a quiet, laid-back community, says Steve Monzeglio. “It’s a real gem of a small South Shore town with so many possibilities for boating and fishing,” said Monzeglio, of BrookHampton Realty.
The 5.4-square-mile hamlet, once an active duck farming community, is now home to a large baking facility owned and operated by Tate’s Bake Shop, a TWA Flight 800 memorial park, a U.S. Coast Guard Station, vegetable farms and farm stands and the Silly Lily Fishing Station, one of the many that dotted the Moriches Bay shore starting in the 1800s.
The community offers “high-end waterfront homes down to great little starter homes, that sell very quickly, and everything in between,” said Monzeglio.
The hamlet has retained a lot of its old charm, says Jim Gleason, vice president and director of the East Moriches Property Owners Association. “People like it because it’s not overdeveloped. Many of the homes, particularly along Montauk Highway, go back to the late 1800s and are in the historic district,” Gleason said.
But that could change. On the minds of area residents is the future of the land on which two small former airports operated near the hamlet’s eastern boundary, according to Gleason. “Together they constitute 50 acres of land zoned residential,” he said. “The big question is, what will happen to the property? Will it be used for airports again? Would it be housing, and what would be appropriate for the area?”
CONDOS AND CO-OPS
There are 4 condos on the market ranging in price from $475,000 to $664,500.
Between July 30, 2019, and July 30, 2020, there were 59 home sales with a median sale price of $435,000, according to OneKey MLS. The low price for that period was $255,000 and the high was $1,072,000. During that period a year earlier, there were 61 home sales with a median sale price of $421,000. The price range was $180,000 to $1,250,000.
Area square miles 5.4
ZIP code 11940
Median age 45.7
Median household income $102,226
Median home value $435,000*
Monthly LIRR ticket $461 from Mastic Shirley
School district East Moriches elementary, Westhampton Beach, Eastport South Manor and Center Moriches high schools
SOURCES: 2018 American Community Survey 5-Year Estimates; OneKey MLS; LIRR
*Based on 22 home sales in the past six months, according to OneKey MLS
NOW ON THE MARKET
This 5,000-square-foot two-story home, which sits on a one-acre lot on the water of Tuthill Cove, underwent a thorough renovation. Besides the architectural detail, the home offers marble floors with radiant heating, a new dock and bulkhead, a first-floor master suite, a 3½-car garage and a new gunite pool and spa. Taxes are $33,799. Joseph Bartone, Coldwell Banker Realty, 631-941-3100.
Built in 2015. this four-bedroom, 2½-bath Victorian offers 3,000 square feet of space and extras such as a large Victorian circular porch off a front corner of the home, plantation shutters, a finished basement, a pool, and an outdoor cabana, shower and bathroom, all on a flat 0.76-acre lot. Taxes are $20,492. Deborah and Eric Sinensky, Coldwell Banker M&D Good Life, 631-929-3700
This recently renovated three-bedroom, two-bathroom home offers an eat-in kitchen, hardwood floors throughout the main level and new carpet on the second floor. Sliding glass doors lead to a rear deck. The basement is unfinished and there is an attached one-car garage. Taxes are $11,371. C. Reade Stewart, BrookHampton Realty, 631-878-0500.
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Today, there’s still a shortage of inventory, which is causing ongoing home price appreciation.
In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home.
Your house is also an asset that typically increases in value over time, even during inflation.
Your goal is to aim directly for the center – not too high, not too low, but right at market value.
Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market.
The first step is working with a local real estate advisor who can help you find a home in your desired location.