Money Talks: A Look At What Life On Long Island Is Worth

Long Island, with its beautiful scenery, outstretched beaches, cutting-edge industry and amenities has become one of the most desirable places with some of the least desirable prices for homes and property tax.

According to statistics, the average price for home in Nassau for the second quarter of 2005 was just above $575,000 dollars, a 1.3 percent increase from the first quarter. And, the total increase from the same quarter of the last year shows an 11.9 percent hike, making Nassau one of the most expensive places to buy and live in.

Studies further show that the average sale price for homes was around $460,000, a 4 percent increase from the previous quarter and a 12.1 percent hike from the same quarter just a year ago.

The amount of available properties (up for sale) in Nassau (county) showed an increase of 0.5 percent from the first quarter to the second and a 20.3 percent jump from the same quarter in 2004. And, while the 0.5 percent increase may seem slight, it was ahead of the trend for all Long Island areas.

Suffolk County homes for the second quarter of this year averaged around $438,000, a 3.7 percent hike over the last quarter, illustrating the continued strength and vitality of the market, with costs reaching previously unheard of and "unimaginable" levels.

The average cost changed by only 2 percent, a slight increase over the past quarter, and the availability of available property (for sale) slightly decreased from the first quarter, illustrating the increased demand for these properties.