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 2021

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

$701,156

$510/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$21,631(+3.2%)

Key Takeaway

Homes in Queens have sold for 3.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $300.6K$309K
+2.8%
2 $462.3K$445K
-3.7%
3 $730.7K$767.8K
+5.1%
4 $858.8K$929.3K
+8.2%
5+ $999.7K$1.1M
+15.0%

Median Sold Price Compared To Nearby Cities

Valley Stream
+9.4%
Bellerose
+5.3%
Queens
+3.2%
New York
+2.8%

How many homes are available in Queens, NY?

Number of Homes For Sale

Nov 2022Dec 2022%
8,3758,342-0.4%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 1,7431,740
-0.2%
2 1,8641,866
0.1%
3 1,9051,912
0.4%
4 1,1201,085
-3.1%
5+ 1,7431,739
-0.2%

Number of Homes Sold

Nov 2022Dec 2022%
671587-12.5%

Asking Price vs. Sold Price

437 Homes Were Sold
Under Asking

78 Homes Were Sold
At Asking

72 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. 74.4% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
82 Days87 Days+6.2%

Breakdown of Home Sale Times

137 Homes Were Sold
Under 30 Days

223 Homes Were Sold
In 30 - 90 Days

207 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.

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

About Queens, NY

Queens, NY has 8,342 homes on the market. In December 2022 in Queens, NY there were 0.4% less homes for sale than in November 2022. In December 2022 median list price was $701,156 and the average listing age was 87 days. From November 2022 through December 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 2.8% more expensive, prices of 2 bedrooms properties decreased by 3.7%, prices of 3 bedrooms properties increased by 5.1%, the cost of 4 bedrooms properties went up by 8.2%, 5 bedrooms properties became 15% more expensive. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went down by 0.2%, 2 bedrooms homes became 0.1% more available, volume of 3 bedrooms homes went up by 0.4%, the quantity of 4 bedrooms homes went down by 3.1%, the quantity of 5 bedrooms homes went down by 0.2%. Over 72 listings were sold over their listed price in December 2022 in Queens, NY. In the same period over 437 listings were sold below the listed price and 78 listings were sold for the listed price.

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