Nearly 2,000 homes sold on Long Island in September. Here's what buyers got for their money.
Nearly 2,000 single-family homes sold last month on Long Island. Credit: Elizabeth Sagarin
September was yet another doozy for Long Island homebuyers, who faced not only high prices but the highest mortgage rates in years.
The 30-year fixed rate surpassed 7% at the end of the month, reaching 7.03% through the week ending Sept. 24. The increase from 6.3% at the same time the previous year translated to an extra $242 a month in principal and interest on a $500,000 mortgage, Newsday reported.
Meanwhile, median home prices hit $911,000 in Nassau County and $760,000 in Suffolk in August, according to OneKey MLS, the multiple listing service that covers Long Island. Housing remains a major concern for Long Islanders, who said they would like to see counties do more to support affordable single-family houses, according to a Newsday/Siena poll.
What did buyers face in September? Newsday analyzed data on nearly 2,000 closed sales on single-family homes in September. Here's what we found.
