Fewer homes are being built than in previous generations on Long Island, where real estate prices continue to soar.

According to nextLI, builders sought permits for 1,818 privately-owned homes in 2024, less than half the number in 2000.

Meanwhile, one of the largest subdivisions in decades is in the works in Rocky Point, Newsday has reported. The Estates at Rocky Point is set to have 47 houses on 35 acres, with starting prices of $799,000 — $264,000 more than the community's median.

While homes built in the 1950s and 1960s dominate the sales, according to data from OneKey MLS, homes built within the past 20 years command higher median prices. By Newsday Staff

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