Is Queens, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Queens, NY
How much do homes in Queens, NY cost?
Median Sold Price
$686,602
$500/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Queens have sold for 1% less than they did a year ago.
Summary: The median home sold price in Queens was $686,602 in March 2024, down 1% from last year, and the median price per square foot was $500.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $305K | -1.6% |
| 2 Bedrooms | $442.4K | $443.2K | 0.2% |
| 3 Bedrooms | $760K | $755.2K | -0.6% |
| 4 Bedrooms | $915.4K | $890.1K | -2.8% |
| 5+ Bedrooms | $1.1M | $1.1M | 0% |
Summary: Queens housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes increased by 0.2%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Valley Stream | $640K | $654K | +2.2% |
| Bellerose | $701K | $695K | -0.9% |
| Queens | $693.4K | $686.6K | -1.0% |
| New York | $854.7K | $845.4K | -1.1% |
Housing Supply in Queens, NY
How many homes are available in Queens, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6,738 | 7,305 | +8.4% |
Summary: The Queens real estate market had 7,305 homes for sale in March 2024, a 8.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1,517 | 1,642 | +8.2% |
| 2 Bedrooms | 1,554 | 1,663 | +7.0% |
| 3 Bedrooms | 1,394 | 1,539 | +10.4% |
| 4 Bedrooms | 864 | 933 | +8.0% |
| 5+ Bedrooms | 1,409 | 1,528 | +8.4% |
Summary: The Queens housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 8.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 572 | 566 | -1.0% |
Asking Price vs. Sold Price
423 Homes Were Sold
Under Asking
69 Homes Were Sold
At Asking
74 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Queens, you may be able to get a good deal. 74.7% of homes here sold below asking price last month.
Summary: A total of 566 homes were sold or pending in Queens in March 2024, down by 1.0% month-over-month. Of the 566 sold homes, 75% were sold under asking, 12% were sold at asking, and 13% were sold over asking.
Days on Market for Queens, NY
How long does it take to sell a home in Queens, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 96 Days | 101 Days | +5.4% |
Summary: Homes in Queens had an average of 101 days on market in Mar 2024, up by 5.4% compared to last year.
Breakdown of Home Sale Times
117 Homes Were Sold
Under 30 Days
195 Homes Were Sold
In 30 - 90 Days
217 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Queens are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 566 homes were sold in Queens; 21% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services. 
Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.