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Bidding wars drive Long Island home prices to new highs

12 days ago   |   By The Real Deal New York

As in similar markets, bidding wars drove up second-quarter home prices in Long Island's suburbs as well as in its summer communities. In Nassau and Suffolk counties, not including the Hamptons and North Fork, 46 percent of all homes that sold in the second quarter went above the asking price according to Douglas Elliman's quarterly report by appraisal firm Miller Samuel. In the Hamptons, 21 percent did. The high demand drove housing prices to all-time
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