realestate

Recent Long Island Condo Sales Below Median Price

In a competitive market, condos can be a steppingstone to homeownership.

I
n a competitive Long Island market, first-time homebuyers may find it challenging to secure a house. Ryan Dunne, an agent with HomeSmart Premier Living Realty, suggests considering condos as a steppingstone to homeownership. Although there are limited condo options on the island, prices in Nassau and Suffolk counties have risen, with median condo prices reaching $870,000 in Nassau and $537,000 in Suffolk.

    Here are five two-bedroom, two-bathroom condos that sold below the medians in July:

    A unit in Wharfside Condominiums in Freeport sold for $430,000. The pet-friendly complex features a pool with a hot tub, gym, sauna, and tennis courts. The 1,141-square-foot condo had an original kitchen but was move-in ready.

    In Oceanside, a second-floor condo at the Villas at Oceanside closed for $620,000. Listing agent Ryan Dunne represented the sellers in 2022 when they bought the place. After three years of living there, they sold it to another young couple in two days for $5,000 over its asking price.

    A 1,281-square-foot unit in Manorville's Greenwood Village closed for $240,000, which was $10,000 more than its original list price. The complex boasts a pool with a lifeguard, gym, clubhouse, putting green, and athletic courts.

    In Port Washington, a condo in the 55+ community of Mill Pond Acres sold for $735,000 – $10,000 over its asking price. The community features a mix of townhouses and condos at varying prices depending on square footage.

    A penthouse unit in Long Beach's The Summit building sold for $695,000. The pet-friendly condo had picturesque views of the Manhattan skyline and was sold relatively quickly by Leah Tozer of Daniel Gale Sotheby's International Realty.

Long Island condo sales decline, prices below median in recent market trend.