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