A new report reveals median home sales surged on Long island where a quarter of communities saw prices increase 20 percent over a four-year period.
The PropertyShark study looked at Long Island's residential sale price evolution between 2014 and 2018, focusing on 108 towns and Census-designated places (CDPs) located in Suffolk and Nassau counties and calculated the median home sale price for each.
The analysis considered all residential transactions between Jan.1, 2014, and Dec. 31, 2018.
Here are the results:
- A quarter of all Long Island communities that were analyzed had prices appreciate 20 percent or more over 2014 levels.
- Orient saw a 105 percent median sale price increase compared to 2014, reaching a median of $1.3M in 2018.
- Fishers Island’s median dropped 52 percent in 5 years to a median of $825K.
- Sagaponack is still the most expensive LI community, despite a 62 percent decrease compared to 2014 levels.
- Old Bethpage and Sound Beach more than doubled their sales activity over 2014 levels.
- Also in Nassau County, Hempstead's median increased 26 percent and Valley Stream's median increased 24 percent.
Click here for the PropertyShark report.
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