Is Southwestern Queens, 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, Southwestern Queens has remained a Buyer's Market.
Housing Prices in Southwestern Queens, NY
How much do homes in Southwestern Queens, NY cost?
Median Sold Price
$690,000
$422/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Southwestern Queens was $690,000 in May 2024, down 3.4% from last year, and the median price per square foot was $422.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $192.5K | $210K | +9.1% |
2 Bedrooms | $324K | $330K | +1.9% |
3 Bedrooms | $675.6K | $660K | -2.3% |
4 Bedrooms | $800K | $810K | +1.3% |
5+ Bedrooms | $970K | $960K | -1.0% |
Summary: Southwestern Queens housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 1.9%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Neighborhoods
Lindenwood | $270K | $270K | 0.0% |
Southwestern Queens | $714.1K | $690K | -3.4% |
Howard Beach | $715K | $670K | -6.3% |
Ozone Park | $775K | $720K | -7.1% |
Old Howard Beach | $879K | $809K | -8.0% |
Housing Supply in Southwestern Queens, NY
How many homes are available in Southwestern Queens, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
741 | 810 | +9.3% |
Summary: The Southwestern Queens real estate market had 810 homes for sale in May 2024, a 9.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 60 | 62 | +3.3% |
2 Bedrooms | 88 | 99 | +12.5% |
3 Bedrooms | 249 | 267 | +7.2% |
4 Bedrooms | 121 | 144 | +19.0% |
5+ Bedrooms | 223 | 238 | +6.7% |
Summary: The Southwestern Queens housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
65 | 70 | +7.7% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Southwestern Queens in May 2024, up by 7.7% month-over-month. Of the 70 sold homes, 73% were sold under asking, 10% were sold at asking, and 17% were sold over asking.
Days on Market for Southwestern Queens, NY
How long does it take to sell a home in Southwestern Queens, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
132 Days | 92 Days | -30.1% |
Summary: Homes in Southwestern Queens had an average of 92 days on market in May 2024, down by 30.1% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During May 2024, 70 homes were sold in Southwestern Queens; 30% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.