Is Southeastern 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, Southeastern Queens has remained a Buyer's Market.
Key Takeaway
Southeastern Queens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southeastern Queens, NY
How much do homes in Southeastern Queens, NY cost?
Median Sold Price
$659,906
$442/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Southeastern Queens have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Southeastern Queens was $659,906 in March 2024, up 1.5% from last year, and the median price per square foot was $442.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $215K | -2.3% |
| 2 Bedrooms | $365K | $392.7K | +7.6% |
| 3 Bedrooms | $647.1K | $643.2K | -0.6% |
| 4 Bedrooms | $730K | $729K | -0.1% |
| 5+ Bedrooms | $937.5K | $956.7K | +2.1% |
Summary: Southeastern Queens housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes increased by 7.6%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Springfield Gardens | $770K | $782.5K | +1.6% |
| Southeastern Queens | $650K | $659.9K | +1.5% |
| Rochdale | $682K | $677K | -0.7% |
| South Jamaica | $650K | $640K | -1.5% |
Housing Supply in Southeastern Queens, NY
How many homes are available in Southeastern Queens, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,372 | 1,455 | +6.0% |
Summary: The Southeastern Queens real estate market had 1,455 homes for sale in March 2024, a 6.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 143 | 146 | +2.1% |
| 2 Bedrooms | 196 | 208 | +6.1% |
| 3 Bedrooms | 408 | 428 | +4.9% |
| 4 Bedrooms | 284 | 310 | +9.2% |
| 5+ Bedrooms | 341 | 363 | +6.5% |
Summary: The Southeastern Queens housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 6.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 124 | 109 | -12.1% |
Asking Price vs. Sold Price
71 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southeastern Queens, you may be able to get a good deal. 65.1% of homes here sold below asking price last month.
Summary: A total of 109 homes were sold or pending in Southeastern Queens in March 2024, down by 12.1% month-over-month. Of the 109 sold homes, 65% were sold under asking, 9% were sold at asking, and 26% were sold over asking.
Days on Market for Southeastern Queens, NY
How long does it take to sell a home in Southeastern Queens, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 81 Days | 86 Days | +5.2% |
Summary: Homes in Southeastern Queens had an average of 86 days on market in Mar 2024, up by 5.2% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
46 Homes Were Sold
In 30 - 90 Days
37 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Southeastern Queens has remained consistent over time.
Summary: During March 2024, 109 homes were sold in Southeastern Queens; 24% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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