Is Northeastern Queens, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Northeastern Queens has remained a Buyer's Market.
Key Takeaway
Northeastern Queens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Northeastern Queens, NY
How much do homes in Northeastern Queens, NY cost?
Median Sold Price
$722,205
$538/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northeastern Queens have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Northeastern Queens was $722,205 in May 2024, down 1.2% from last year, and the median price per square foot was $538.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $280K | 0.0% |
| 2 Bedrooms | $380.6K | $392.3K | +3.1% |
| 3 Bedrooms | $880K | $888K | +0.9% |
| 4 Bedrooms | $1.0M | $998K | -3.2% |
| 5+ Bedrooms | $1.3M | $1.3M | -0.5% |
Summary: Northeastern Queens housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Auburndale | $910K | $913K | 0.3% |
| Northeastern Queens | $730.7K | $722.2K | -1.2% |
| Whitestone | $940K | $905K | -3.7% |
| Bay Terrace | $594.5K | $562.5K | -5.4% |
| Beechhurst | $713.7K | $479.8K | -32.8% |
Housing Supply in Northeastern Queens, NY
How many homes are available in Northeastern Queens, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,329 | 2,561 | +10.0% |
Summary: The Northeastern Queens real estate market had 2,561 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 564 | 606 | +7.4% |
| 2 Bedrooms | 688 | 729 | +6.0% |
| 3 Bedrooms | 481 | 539 | +12.1% |
| 4 Bedrooms | 261 | 293 | +12.3% |
| 5+ Bedrooms | 335 | 394 | +17.6% |
Summary: The Northeastern Queens housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.4%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 194 | 230 | +18.6% |
Asking Price vs. Sold Price
176 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northeastern Queens, you may be able to get a good deal. 76.5% of homes here sold below asking price last month.
Summary: A total of 230 homes were sold or pending in Northeastern Queens in May 2024, up by 18.6% month-over-month. Of the 230 sold homes, 77% were sold under asking, 7% were sold at asking, and 16% were sold over asking.
Days on Market for Northeastern Queens, NY
How long does it take to sell a home in Northeastern Queens, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 100 Days | 79 Days | -20.4% |
Summary: Homes in Northeastern Queens had an average of 79 days on market in May 2024, down by 20.4% compared to last year.
Breakdown of Home Sale Times
82 Homes Were Sold
Under 30 Days
73 Homes Were Sold
In 30 - 90 Days
74 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northeastern Queens are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 230 homes were sold in Northeastern Queens; 36% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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