Long Island home prices jumped to a record level in the third quarter, as an all-time high 60% of homes sold for above sellers' asking prices, signaling bidding wars continue to frustrate buyers.

The median sale price on Long Island, excluding the East End, climbed 7.1% to $750,000 during the July-to-September period compared with that same stretch a year ago, according to a report released Thursday by real estate brokerage Douglas Elliman and appraisal firm Miller Samuel. The firms report Hamptons and North Fork prices separately.

Record highs have become the norm on Long Island, as buyers outnumber willing home sellers. The third quarter marked the sixth quarter in a row in which prices reached a new high.

The number of listings has yet to recover from the post-pandemic period whe

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