$10,000 Closing Credit*
$1,057,500
846 SqFt
2 Beds
•2 Full Baths
Listing Office: B Square Realty Inc
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 October 2023
At the same time last year, Long Island City was a Seller'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
$1,196,649
$1,251/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$134,936(+12.7%)
Key Takeaway
Homes in Long Island City have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in Long Island City was $1,196,649 in October 2024, up 12.7% from last year, and the median price per square foot was $1,251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $632K | $918K | +45.3% |
| 2 Bedrooms | $1.2M | $1.1M | -7.2% |
| 3 Bedrooms | $1.1M | $1.7M | +55.2% |
| 4 Bedrooms | $1.2M | $1.4M | +14.8% |
| 5+ Bedrooms | $1.5M | $1.4M | -3.3% |
Summary: Long Island City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.3%, 2 bedroom homes decreased by 7.2%, 3 bedroom homes increased by 55.2%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 3.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Astoria | $872K | $1.0M | +20.4% |
| Long Island City | $1.0M | $1.1M | +12.7% |
| Sunnyside | $700K | $762.2K | +8.9% |
| Northwestern Queens | $701.1K | $762.6K | +8.8% |
Housing Supply in Long Island City, NY
How many homes are available in Long Island City, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 105 | 108 | +2.9% |
Summary: The Long Island City real estate market had 108 homes for sale in October 2024, a 2.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 39 | 46 | +17.9% |
| 2 Bedrooms | 28 | 24 | -14.3% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 21 | 20 | -4.8% |
Summary: The Long Island City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.9%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 4.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 9 | -35.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Long Island City, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in Long Island City in October 2024, down by 35.7% month-over-month. Of the 9 sold homes, 22% were sold under asking, 67% were sold at asking, and 11% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 102 Days | 37 Days | -63.7% |
Summary: Homes in Long Island City had an average of 37 days on market in Oct 2024, down by 63.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Long Island City has remained consistent over time.
Summary: During October 2024, 9 homes were sold in Long Island City; 11% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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