October's First-Time Homebuyer Report for Montauk

Montauk has a much younger population than other areas in New York with a median age of 47 years. It is also somewhat affluent with a median income of $54,389 per household. The Montauk market is mostly made up of detached homes, currently accounting for 64% overall. Leading the list of top schools in the city are Mount Sinai Middle School and Mount Sinai High School.

Culture

According to Foursquare, Ditch Plains Beach and Montauk Beach House are the most popular outdoor attractions in Montauk. If you're looking for some recommended attractions, local favorites are Montauk Movies and Montauk Playhouse. And finally, Navy Beach Restaurant, 668 The Gig Shack, and Joni's Montauk are frequently visited spots to eat.

Price Range

Some of the more expensive homes in New York are in Montauk with a median home value of $667,800 and an average list price for available homes currently at $1,443,577. The Montauk market extended a three-week hot streak this week, even as sales remained flat at one home sold over the last 30 days.

Curious as to which homes have been getting the most attention in Montauk? These listings have stirred up interest and produced the most views:

$2.1M   $4.4M   $999K  

Typical Dwelling

A four-bedroom detached home valued around $1,590,286 is considered a typical dwelling in Montauk. If a buyer was looking for a similar home, they would need good credit and a $318,057 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $6,741 and the property tax rate is $26.26 per $1,000 of taxable assessed value.

Get started right now by checking out Montauk homes for sale or reviewing Montauk real estate trends.


Data reported through 10/13/2016

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Ask a local expert about this area:
Douglas Elliman Real Estate
Snapped 26 homes in this area
NestSeekers International
Snapped 5 homes in this area
S A S Real Estate
Snapped 6 homes in this area

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