The median home sale price on Long Island — excluding the East End — rose to a record high of $700,000 for the first time during the period of July to September. That was over 9% higher than last year over the same period.
Home prices have been driven up because there are too few listings to meet demand. Nearly 6 in 10 sales sold for above asking price.
Long Island home prices hit record high
A sale sign stands outside a home. (AP Photo/Matt Rourke)
