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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Queens is a buyer's market

Buyer's
Market

Difference Since December 2020

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

Key Takeaway

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

How much do homes in Queens, NY cost?

Median Sold Price

$676,549

$473/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$51,209(+8.2%)

Key Takeaway

Homes in Queens have sold for 8.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $276.1K$281.8K
+2.1%
2 $420.2K$425.9K
+1.4%
3 $657.2K$730K
+11.1%
4 $769.8K$854.5K
+11.0%
5+ $952.2K$999K
+4.9%

Median Sold Price Compared To Nearby Cities

Queens
+8.2%
New York
+6.9%
Bellerose
+6.5%
South Richmond Hill
-2.2%

How many homes are available in Queens, NY?

Number of Homes For Sale

Nov 2021Dec 2021%
9,4549,432-0.2%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 1,8551,880
+1.3%
2 2,1412,149
0.4%
3 2,2312,157
-3.3%
4 1,2851,283
-0.2%
5+ 1,9421,963
+1.1%

Number of Homes Sold

Nov 2021Dec 2021%
831863+3.9%

Asking Price vs. Sold Price

627 Homes Were Sold
Under Asking

102 Homes Were Sold
At Asking

134 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Queens, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
83 Days81 Days-2.6%

Breakdown of Home Sale Times

250 Homes Were Sold
Under 30 Days

359 Homes Were Sold
In 30 - 90 Days

253 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

About Queens, NY

Homes for sale in Queens, NY have reached 9,432. The inventory of homes for sale in Queens, NY between November 2021 and December 2021 decreased by 0.2%. The median list price of listings available in December 2021 was $676,549, while the average time on the real estate market was 81 days. Between November 2021 and December 2021, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties became 2.1% more expensive, 2 bedrooms properties prices increased by 1.4%, 3 bedrooms properties became 11.1% more expensive, 4 bedrooms properties prices increased by 11%, the cost of 5 bedrooms properties went up by 4.9%. Housing inventory have changed in this real estate market: the quantity of 1 bedroom homes went up by 1.3%, 2 bedrooms homes inventory increased by 0.4%, 3 bedrooms homes inventory decreased by 3.3%, the quantity of 4 bedrooms homes went down by 0.2%, the quantity of 5 bedrooms homes went up by 1.1%. In December 2021 more than 134 listings in Queens, NY were sold above the asking price. During the same period more than 102 listings were sold at asking price, while more than 627 were sold below.

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