Is Queens County, 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, Queens County has remained a Buyer's Market.
Key Takeaway
Queens County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Queens County, NY
How much do homes in Queens County, NY cost?
Median Sold Price
$693,518
$499/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Queens County have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in Queens County was $693,518 in May 2024, up 0.6% from last year, and the median price per square foot was $499.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $311.2K | $303.1K | -2.6% |
| 2 Bedrooms | $438.7K | $450K | +2.6% |
| 3 Bedrooms | $761.6K | $763.8K | 0.3% |
| 4 Bedrooms | $903.6K | $900K | -0.4% |
| 5+ Bedrooms | $1.1M | $1.1M | +1.0% |
Summary: Queens County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.6%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Counties
| Nassau County | $678.8K | $720.5K | +6.1% |
| Kings County | $953.6K | $971.7K | +1.9% |
| Queens County | $689.2K | $693.5K | +0.6% |
| Bronx County | $575.8K | $572.9K | -0.5% |
Housing Supply in Queens County, NY
How many homes are available in Queens County, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7,271 | 7,928 | +9.0% |
Summary: The Queens County real estate market had 7,928 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1,601 | 1,727 | +7.9% |
| 2 Bedrooms | 1,656 | 1,759 | +6.2% |
| 3 Bedrooms | 1,579 | 1,724 | +9.2% |
| 4 Bedrooms | 900 | 992 | +10.2% |
| 5+ Bedrooms | 1,535 | 1,726 | +12.4% |
Summary: The Queens County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.9%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 12.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 634 | 632 | -0.3% |
Asking Price vs. Sold Price
448 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
109 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Queens County, you may be able to get a good deal. 70.9% of homes here sold below asking price last month.
Summary: A total of 632 homes were sold or pending in Queens County in May 2024, down by 0.3% month-over-month. Of the 632 sold homes, 71% were sold under asking, 12% were sold at asking, and 17% were sold over asking.
Days on Market for Queens County, NY
How long does it take to sell a home in Queens County, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 106 Days | 89 Days | -16.3% |
Summary: Homes in Queens County had an average of 89 days on market in May 2024, down by 16.3% compared to last year.
Breakdown of Home Sale Times
186 Homes Were Sold
Under 30 Days
204 Homes Were Sold
In 30 - 90 Days
199 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Queens County has remained consistent over time.
Summary: During May 2024, 632 homes were sold in Queens County; 29% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.