Home sales on New York's Long Island took a huge leap in the last three months, just not in the toney, talked-about Hamptons.
Sales in the other less-known, less-pricey areas on the island jumped 46 percent from the second to third quarter of this year and are 13 percent higher than a year ago, Jonathan Miller said in a report for Douglas Elliman Real Estate. Sales in mid island are now at the highest level since 2003.
The median home price on closer-in Long Island was $390,000, up 2.6 percent from a year ago. Compare that to the median Hamptons price of $950,000.
"It's surprisingly strong," said Miller. "What we're seeing in the suburbs is that this price point seems to be a sweet spot in consumer demand."