Buying and selling real estate in the communities of Long Island
BloggersValerie Kellogg Kristin Lavin Taveira Maura McDermott Lisa Doll Bruno
Sales prices of luxury homes are rising faster than the overall Long Island housing market, according to a new second quarter report by Douglas Elliman Real Estate.
The median sales price in the Island’s luxury market — homes that go for $760,000 and higher, but excluding the East End — rose more than 4 percent over the same time last year to $999,000, while the median sales price in the overall...Read more »
U.S. home prices are up about 10 percent right now from the same time last year, multiple national reports have shown, yet local reports have indicated that Long Island's appreciation is just half of that -- or even less.
The closely watched Case-Shiller Home Price Index most recently reported a 9.3 percent nationwide increase, while a similar measure from market analytic firm CoreLogic, released...Read more »