$10,000 Closing Credit*
$1,320,000
4 Beds
•3 Full Baths
Listing Office: EXP Realty
Is Long Island City, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Long Island City has remained a Buyer's Market.
Key Takeaway
Long Island City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Long Island City, NY
How much do homes in Long Island City, NY cost?
Median Sold Price
$1,156,076
$1,219/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$79,709(+7.4%)
Key Takeaway
Homes in Long Island City have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Long Island City was $1,156,076 in November 2024, up 7.4% from last year, and the median price per square foot was $1,219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $664.5K | $865K | +30.2% |
| 2 Bedrooms | $1.2M | $1.1M | -10.9% |
| 3 Bedrooms | $1.1M | $1.2M | +10.0% |
| 4 Bedrooms | $1.2M | $1.4M | +14.8% |
| 5+ Bedrooms | $1.4M | $1.5M | +3.4% |
Summary: Long Island City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.2%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Sunnyside | $612.5K | $777.6K | +27.0% |
| Northwestern Queens | $657.3K | $756.7K | +15.1% |
| Astoria | $891K | $987K | +10.8% |
| Long Island City | $1.0M | $1.1M | +7.4% |
Housing Supply in Long Island City, NY
How many homes are available in Long Island City, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 102 | 99 | -2.9% |
Summary: The Long Island City real estate market had 99 homes for sale in November 2024, a 2.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 46 | 39 | -15.2% |
| 2 Bedrooms | 26 | 35 | +34.6% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 16 | 14 | -12.5% |
Summary: The Long Island City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.2%, 2 bedroom homes increased by 34.6%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Long Island City, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Long Island City in November 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Long Island City, NY
How long does it take to sell a home in Long Island City, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 82 Days | +228.0% |
Summary: Homes in Long Island City had an average of 82 days on market in Nov 2024, up by 228% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Long Island City has remained consistent over time.
Summary: During November 2024, 10 homes were sold in Long Island City; 0% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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