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Elliman Report: Long Island Sales 3Q 2014
After four consecutive quarters with year-overyear price increases, the Long Island housing market showed price stability as the pace of the market slowed. Median sales price was $380,000, unchanged from the prior year quarter and 14.1% below the market peak of $442,380 in the third quarter of 2007. The luxury market or top 10% of all sales, was up 6.5% to $1,145,000 from the same period last year, outperforming the overall market. After bottoming in the fourth quarter of 2013, inventory continued to rise but still remained 18.6% below the ten-year quarterly average…
