We had a chance to speak with veteran real estate broker Joan Hegner who gave us the 411 on the Montauk real estate market.
What is the vibe like in Montauk this year, compared to last?
It is apparent that Montauk will have a summer unlike any other this season as we are already seeing record numbers visiting and seeking homes. With COVID restrictions lifting, and venues able to open for greater use — town is literally buzzing on all cylinders!
What does your crystal ball say about the Montauk market for the rest of the year?
As reported, inventory is quite low — especially in the $2/$3M and under price points, so any owner looking to make their move, now is the perfect time to get listed with all the pent up buyer interest still seeking their ideal wish list. I predict once this happens, we will see a banner second half of 2021!
How is the rental market shaping up this summer, is there any inventory left?
Interesting question, my sense is twofold; as so many bought in 2020, and prices of rentals went much higher from the frenzied 2020 rental market, there appears to be a larger inventory remaining across the board so owners should adjust accordingly if they want to realize a rental going forward.
What is the best advice you can give a new home buyer looking for real estate in Montauk this summer?
With lower inventory, interest rates dropping, and sky high interest, when you see what you want, don’t delay as homes will get scooped up quickly!
Can you tell us about a favorite Montauk listing you have, and why it’s a good deal?
My lakefront listing at 22 Lakeside Court is the rarest of jewels having a peaceful locale, almost 200’ along the lake, a stunning window walled sleek design and coveted lakeside pool permit which is so valuable in today’s tough zoning. After a recent price adjustment, this will be sold soon!
Licensed Associate Real Estate Broker