I am confused.
Your 2 examples above look exactly the same.
On the page you linked to, there is only one bullet with a sub bullet, and there is no extra space between the main bullet and the sub bullet (see below what I see
* Sellers are achieving 95.23% of last list price (asking price) slightly higher than last year (94.3%) during this time-frame.
* Looking to buy Lake Wylie waterfront property in 2016, we have 96 currently available for sale.
* We look for the homes available for sale to rise to 145 homes in the Spring of 2016.
* The average days on market for Lake Wylie Waterfront Property was 168 days
The only problem I see is that because of the space you added in CSS when there are sub bullets, you get double spacing below the sub bullet .
To eliminate the space on sub bullets I would add the rule below
#content li {padding-bottom: 1.5em !important;}
#content ul li ul li {padding-bottom:0px !important;}