From Bloomberg

Second-quarter sales volume dropped 29 percent and the median price fell 11 percent to $735,000 from a year earlier in the resort communities on the East End of New York’s Long Island, Suffolk Research Service Inc. said in a report today.

Housing prices for high end properties, especially in Manhattan and in the resort areas of Long Island has been somewhat resistant to the market crash until now. We’re seeing signals now that no where is safe from the deflating housing bubble.