Long Island real estate: 5 places where prices rose the fastest in first half of 2025
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Long Island real estate: 5 places where prices rose the fastest in first half of 2025
"Donna Cooper and her husband, Randy Martin, have spent years searching for a house in Westbury, hoping to buy near Cooper's childhood home, where they now live with her 91-year-old mother. At an open house last month, Cooper, an actor and writer, toured a three-bedroom corner home with a white picket fence listed for $779,000. She walked from room to room, picturing her future. One space she imagined as a breakfast nook. In another, filled with natural light, she envisioned a writing desk."
"Like other Northeast suburbs, Long Island has seen far less new home construction than other regions, especially the South, said Jonathan Miller, CEO of Manhattan appraisal firm Miller Samuel, which compiled the data for Newsday. Most new construction, he said, has been luxury housing - fueling faster appreciation in already pricey areas. "We're building more housing but it's the wrong kind. It doesn't match the market needs, and that's very prevalent in the Northeast because of the lack of land," he said."
Donna Cooper and her husband, Randy Martin, have sought a home in Westbury while living with Cooper's 91-year-old mother. They toured a three-bedroom corner house listed for $779,000 but felt uncomfortable buying at current prices, calling them "ridiculous" and worrying about becoming house poor. Westbury's median single-family sale price rose 17.1% to $806,000 in the first half of 2025. Prices climbed fastest in already expensive communities like Northport, where the median topped $1 million and rose 20.4% year over year. Limited new construction except for luxury units is constraining supply and fueling faster appreciation in high-end areas. Manhasset saw a median decline as more sub-$2 million homes appeared.
Read at Newsday
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