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Real Estate

It’s Called The Suburbs For A Reason

Condos represent minuscule number of

Long Island home sales

For Long Islanders, home is where the heart is and not surprisingly, it better include a yard. Real estate numbers for September 2013 continue to rise across the board, be it for single/multi-family residences or condominiums. But according to statistics provided by the Multiple Listing Service of Long Island, residents in both counties far and away prefer to have a piece of land to go with their home. According to Merriam-Webster, a condominium is “a room or set of rooms that is owned by the people who live there and that is part of a larger building containing other similar sets of rooms.” Condos are different from co-ops, which will be addressed in next month’s real estate market update column.

In Nassau, the median number of single/multi-family residences sold last month were 828 with a median price of $420,00. Although only 62 condos sold in the county during the same time period, the median price was nearly $100,000 more at $529,000. Over in Suffolk County, 879 single/multi-family homes sold last month for a median price of $332,500. Apartment living seemed much more in vogue versus Nassau County as the median number of condos sold were 164 with a median price of $287,000.

Data provided by the Multiple Listing Service of Long Island Inc.