$10,000 Closing Credit*
$1,660,000
7 Beds
•5 Full Baths
Listing Office: Century Titan Group Inc
Is Queens, 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, Queens was a Neutral Market.
Key Takeaway
Queens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Queens, NY
How much do homes in Queens, NY cost?
Median Sold Price
$713,312
$514/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,108(+4.4%)
Key Takeaway
Homes in Queens have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Queens was $713,312 in October 2024, up 4.4% from last year, and the median price per square foot was $514.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $309.7K | $305.2K | -1.4% |
| 2 Bedrooms | $431.2K | $459.4K | +6.5% |
| 3 Bedrooms | $750.9K | $777.9K | +3.6% |
| 4 Bedrooms | $885K | $915.8K | +3.5% |
| 5+ Bedrooms | $1.1M | $1.1M | +3.9% |
Summary: Queens housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 3.9%.
Median Sold Price Compared To Nearby Cities
| Valley Stream | $643.4K | $683K | +6.2% |
| Queens | $683.2K | $713.3K | +4.4% |
| Bellerose | $699K | $725K | +3.7% |
| New York | $845.7K | $856.1K | +1.2% |
Housing Supply in Queens, NY
How many homes are available in Queens, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7,530 | 7,940 | +5.4% |
Summary: The Queens real estate market had 7,940 homes for sale in October 2024, a 5.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1,681 | 1,736 | +3.3% |
| 2 Bedrooms | 1,658 | 1,743 | +5.1% |
| 3 Bedrooms | 1,628 | 1,716 | +5.4% |
| 4 Bedrooms | 976 | 1,031 | +5.6% |
| 5+ Bedrooms | 1,587 | 1,714 | +8.0% |
Summary: The Queens housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 726 | 742 | +2.2% |
Asking Price vs. Sold Price
480 Homes Were Sold
Under Asking
106 Homes Were Sold
At Asking
156 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Queens, you may be able to get a good deal. 64.7% of homes here sold below asking price last month.
Summary: A total of 742 homes were sold or pending in Queens in October 2024, up by 2.2% month-over-month. Of the 742 sold homes, 65% were sold under asking, 14% were sold at asking, and 21% were sold over asking.
Days on Market for Queens, NY
How long does it take to sell a home in Queens, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 88 Days | 86 Days | -3.3% |
Summary: Homes in Queens had an average of 86 days on market in Oct 2024, down by 3.3% compared to last year.
Breakdown of Home Sale Times
203 Homes Were Sold
Under 30 Days
276 Homes Were Sold
In 30 - 90 Days
213 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Queens has remained consistent over time.
Summary: During October 2024, 742 homes were sold in Queens; 27% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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