Long Island is a well-developed area, which limits the amount of new construction that is available.  Many other parts of the country have a lot of open land, and thus, a lot more new construction being built.  The limited amount of new construction on Long Island has its pluses and minuses.  The biggest downside is that people looking to purchase a newly constructed home have a smaller inventory to choose from.

Since land is in short supply on Long Island, builders often build small new construction developments.  Often times these "developments" feature around 6-8 homes inside of a cul-de-sac.  As you travel further east into Suffolk County, you will find some larger developments, but they are still relatively small compared to what is going on around the country, as well as the more rural areas of New York.  The closer that you get to New York City, however, the less likely you are to find larger developments.  In fact, in Nassau County, you will often find new construction that is "spot built," which is a new home or two built in an existing development in the place of older homes that were torn down.

If you are a homebuyer that is interested in new construction, there are a number of towns and price ranges to choose from, although there will be a limited supply in each area.  While this lack of inventory of new construction may make it more challenging to find exactly what you are looking for, the limited supply of new homes is beneficial to Long Island homeowners overall.

In other parts of the country, where there is a large inventory of new homes, there are builders that are losing money.  Builders cannot afford to leave homes sitting on the market because it ties up capital, and the carrying costs for unsold homes go directly against their bottom line.  At some point, these homes must get sold, which is why you hear stories about incentive programs being offered by builders, and it is also why they are more likely to drop the prices down to get the homes sold. 

The builders essentially compete with homeowners that are trying to sell their existing homes, and in the current market, their homes are often listed at more attractive price points and also with buying incentives attached to the purchase.  In areas where new homes are sitting on the market, it stands to reason that sales of existing homes will be more difficult as well.

On Long Island, our inventory has risen, but not nearly to the point of areas around the country, largely due to the fact that we don't have a lot of new construction weighing on the market.  If you'd like to get an idea about the market trends on Long Island, please click here.  You'll see that our inventory, while rising, is still at a manageable level.

Even though the inventory is fairly low, there is a wide variety of new construction on Long Island.  The prices for new homes range from around $200,000 to over $10,000,000.  Below, you will find a list of price ranges, and towns where you can find new construction in each price range.  If you are interested in finding out more about any of the towns, please click on the name of the town. 

This post is being used as an introduction to new construction on Long Island, and as a foundation of a post that will appear weekly, listing the new construction that came on the market during the previous week.  Please check back each week for new construction updates, or if you prefer, you may contact me and ask to be put onto an e-mail list to receive the updates automatically.  My contact information is listed at the bottom of the page.  

The following is a list of price ranges and towns where you can find newly constructed homes.  For the purpose of this post, new construction is defined as all homes built in 2007 or 2008.

$500,000 - $999,999

$1,000,000 - $1,999,999

$2,000,000 - $2,999,999

$3,000,000 and up

Adam Waldman is a Long Island Residential Real Estate Professional that can assist you with the purchase and/or sale of real estate on Long Island, from bank owned homes to new construction to waterfront property, and everything in between. Adam is a Relocation Specialist that has created a network of real estate professionals throughout the country in an effort to assist relocating Long Islanders in their transition to new areas. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search. In addition to being a Relocation Specialist, Adam also holds the designations of Certified Buyer Representative (CBR), Senior Residential Specialist (SRES) and e-PRO.

Please visit www.TheLIReloGuy.com for your relocation needs and www.AdamWaldman.com for your local needs.

Adam Waldman - RE/MAX Best - 631-357-2036 - adam@AdamWaldman.com