Home prices rise in September throughout Long Island

The median price of homes that were pending closing in Nassau County in September was $500,000, Long Island Business News reported. That’s a two percent hop from the $490,000 median price during the same time last year, according to numbers put out by the Multiple Listing Service of Long Island. The story was similar in Suffolk County, where the median price of homes contracted for sale was $385,000, a nearly seven percent rise from last year’s median of $360,000. The rise in prices however came amid a slowdown in sales, which brokers attribute to weakening demand and rising interest rates. [LIBN]