Though construction just began in September, a condo project in Dix Hills is already nearly half sold, thanks to a Long Island housing market propelled by strong demand and weak supply.

The Seasons at Dix Hills, the latest in the Seasons series of 55-and-over condo developments from Jericho-based Engel Burman Group, is bringing 86 residences to a 9-acre site on Deer Park Road just south of the Long Island Expressway.

Formerly occupied by DeLalio Sod Farms, the property is being transformed into 13 residential buildings and an 8,000-square-foot clubhouse, featuring a fitness center, a bar/bistro, yoga studio and outdoor pool.

Each of the condos have two bedrooms and two-and-a-half bathrooms with 9-foot ceilings and attached garages. Many of the units, which range in size from 2,197 square feet to 3,025 square feet, also have basements.

Prices of the condos at the Seasons at Dix Hills start at $790,000 and Engel Burman principal Scott Burman says the residences are going fast.

“We’re seeing a very, very strong market,” Burman said. “There’s just a huge demand for housing right now and we’re seeing robust sales in our Seasons project.”

Long Island condo sales and prices have increased year over year. In the third quarter of this year, there were 286 closed condo sales in Nassau County, up 81 percent from the 158 condo sales in Q3 2020, according to numbers from OneKey MLS.

In Suffolk County, there were 498 closed condo sales in the third quarter, an increase of nearly 33 percent from the 375 condo sales recorded in Q3 2020.

Condo prices on Long Island have also risen sharply in the last year. The median price of closed condo sales in Nassau in September was $699,000, that’s up 11.4 percent from the Sept. 2020 median condo price of $627,500.

The September median price of closed condo sales in Suffolk was $388,500, which was more than 18 percent higher than the $329,000 median for condo sales recorded in Sept. 2020.

“A lot of people are migrating east and a lot of empty nesters are selling their single-family homes to young families and looking for housing alternatives,” Burman said. “Some of the demand has been driven by COVID, causing people to leave denser urban areas for the suburbs.”

Engel Burman built its first Seasons community in Plainview in 2007, where condos then started at $480,000. The company has since added Seasons developments in East Meadow, Seaford and Elwood. Including its new Dix Hills project, the developer has sold nearly 1,000 condos under the Seasons brand.

Engel Burman is planning to build another Seasons community in Commack, which is still in the approvals process.

“We’ve been building Seasons communities like this for decades,” Burman said. “We still have a very strong market for this product on Long Island and it’s still underserved.”

Source link