Real LI

Buying and selling real estate in the communities of Long Island

Long Island luxury home prices rising three times faster than overall market

High-end homes, such as the one listed for

(Credit: Newsday)

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...

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