Long Island house prices drop again

LONG ISLAND The Multiple Listing Service of Long Island reports that the median closing price for a home in Long Island and Queens fell to $376,500 last month. That's down from $421,000 a year ago and $385,000 in October.

The November drop represents a 10.6 percent decrease from a year ago and a 2.3 percent decrease from October.

Michael Azzato, associate broker at Century 21 Family Realty in Northport, says buyers are making lowball offers, but he says a low offer is better than no offer because it opens up negotiations.

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