Home sales soar on LI as prices drop

Nassau and Suffolk counties posted double-digit increases in pending home sales in March compared to last year, according to the Multiple Listing Service of Long Island.

Sales jumped 31 percent in Nassau and 38 percent in Suffolk compared to March of 2009.

Home prices are down though, with the average price of a home in Nassau this year being $402,000. The average price in Suffolk is $310,000.

?It's an affordable price that most people?with the cash down payments that they have, can afford to buy on Long Island,? Multiple Listing Service of Long Island?s Frank Dellaccio says.

Experts credit the spike in home sales to lower prices and the Homebuyer Tax Credit, which expires April 30.

Long Island Board of RealtorsMultiple Listing Service of Long Island, Inc.Federal Housing Tax Credit

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