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LI home sales dip in November; prices up

Fewer homes were sold on Long Island in

Fewer homes were sold on Long Island in October, and the market reeled from the effects of superstorm Sandy, Multiple Listing Service Long Island reported Wednesday. (Credit: Fotolia)

Fewer homes were sold in Nassau and Suffolk counties this past month as the market reeled from superstorm Sandy, Multiple Listing Service Long Island reported Wednesday.

As communities in Nassau and Suffolk dealt with flooding, damaged homes, gas shortages and power outages, 1,349 homes were sold, compared to 1,409 in November 2011. Sales volume fell fell by 4.3 percent.

Home prices edged up, however.

The median closing price on a home in Nassau rose to $400,000, a 5.8 percent increase over a year ago, while median closing prices in Suffolk rose to $313,500, a 1.1 percent increase.

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