Is Southeastern Queens, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southeastern Queens is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Southeastern Queens has remained a Buyer's Market.

Key Takeaway

Southeastern Queens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Southeastern Queens, NY

How much do homes in Southeastern Queens, NY cost?

Median Sold Price

$680,976

$457/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$30,976(+4.8%)

Key Takeaway

Homes in Southeastern Queens have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Southeastern Queens was $680,976 in November 2024, up 4.8% from last year, and the median price per square foot was $457.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $215K$220K
+2.3%
2 $366.3K$350K
-4.5%
3 $640K$665.5K
+4.0%
4 $725K$759.8K
+4.8%
5+ $953.4K$948.7K
-0.5%

Summary: Southeastern Queens housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.3%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 0.5%.

Median Sold Price Compared To Nearby Neighborhoods

South Jamaica
+7.3%
Southeastern Queens
+4.8%
Rochdale
+3.7%
Locust Manor
+1.5%
Springfield Gardens
-8.8%

Housing Supply in Southeastern Queens, NY

How many homes are available in Southeastern Queens, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1,5001,509+0.6%

Summary: The Southeastern Queens real estate market had 1,509 homes for sale in November 2024, a 0.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 168163
-3.0%
2 219221
+0.9%
3 460461
0.2%
4 270271
0.4%
5+ 383393
+2.6%

Summary: The Southeastern Queens housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 2.6%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
172130-24.4%

Asking Price vs. Sold Price

79 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southeastern Queens, you may be able to get a good deal. 60.8% of homes here sold below asking price last month.

Summary: A total of 130 homes were sold or pending in Southeastern Queens in November 2024, down by 24.4% month-over-month. Of the 130 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% were sold over asking.

Days on Market for Southeastern Queens, NY

How long does it take to sell a home in Southeastern Queens, NY?

Average Sale Time

Nov 2023Nov 2024CHANGE
86 Days78 Days-9.9%

Summary: Homes in Southeastern Queens had an average of 78 days on market in Nov 2024, down by 9.9% compared to last year.

Breakdown of Home Sale Times

36 Homes Were Sold
Under 30 Days

46 Homes Were Sold
In 30 - 90 Days

42 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Southeastern Queens has remained consistent over time.

Summary: During November 2024, 130 homes were sold in Southeastern Queens; 28% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Southeastern Queens, NY

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