Is Northwestern 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, Northwestern Queens has remained a Buyer's Market.
Housing Prices in Northwestern Queens, NY
How much do homes in Northwestern Queens, NY cost?
Median Sold Price
$726,850
$549/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Northwestern Queens was $726,850 in May 2024, up 1.5% from last year, and the median price per square foot was $549.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $349.2K | $347K | -0.6% |
2 Bedrooms | $508.9K | $540K | +6.1% |
3 Bedrooms | $875K | $869.2K | -0.7% |
4 Bedrooms | $1.0M | $1.0M | +6.3% |
5+ Bedrooms | $1.2M | $1.2M | -2.1% |
Summary: Northwestern Queens housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes increased by 6.1%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Neighborhoods
Jackson Heights | $449.8K | $462.5K | +2.8% |
Woodside | $429K | $440K | +2.6% |
Northwestern Queens | $715.7K | $726.8K | +1.5% |
Maspeth | $900K | $848K | -5.8% |
Elmhurst | $625K | $505K | -19.2% |
Housing Supply in Northwestern Queens, NY
How many homes are available in Northwestern Queens, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2,504 | 2,705 | +8.0% |
Summary: The Northwestern Queens real estate market had 2,705 homes for sale in May 2024, a 8.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 813 | 879 | +8.1% |
2 Bedrooms | 619 | 649 | +4.8% |
3 Bedrooms | 355 | 382 | +7.6% |
4 Bedrooms | 183 | 192 | +4.9% |
5+ Bedrooms | 534 | 603 | +12.9% |
Summary: The Northwestern Queens housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 12.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
219 | 198 | -9.6% |
Asking Price vs. Sold Price
134 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 198 homes were sold or pending in Northwestern Queens in May 2024, down by 9.6% month-over-month. Of the 198 sold homes, 68% were sold under asking, 18% were sold at asking, and 15% were sold over asking.
Days on Market for Northwestern Queens, NY
How long does it take to sell a home in Northwestern Queens, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
113 Days | 98 Days | -13.0% |
Summary: Homes in Northwestern Queens had an average of 98 days on market in May 2024, down by 13% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
57 Homes Were Sold
In 30 - 90 Days
59 Homes Were Sold
Over 90 Days
Summary: During May 2024, 198 homes were sold in Northwestern Queens; 25% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.