Is Southwestern 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, Southwestern Queens has remained a Buyer's Market.
Key Takeaway
Southwestern Queens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwestern Queens, NY
How much do homes in Southwestern Queens, NY cost?
Median Sold Price
$690,454
$429/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Southwestern Queens have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Southwestern Queens was $690,454 in March 2024, down 3.3% from last year, and the median price per square foot was $429.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | $210K | +10.5% |
| 2 Bedrooms | $345K | $310K | -10.1% |
| 3 Bedrooms | $671K | $661.6K | -1.4% |
| 4 Bedrooms | $805K | $813.9K | +1.1% |
| 5+ Bedrooms | $971.6K | $950K | -2.2% |
Summary: Southwestern Queens housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes decreased by 10.1%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Howard Beach | $725K | $725K | 0.0% |
| Southwestern Queens | $714K | $690.4K | -3.3% |
| Lindenwood | $294K | $260K | -11.6% |
Housing Supply in Southwestern Queens, NY
How many homes are available in Southwestern Queens, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 668 | 706 | +5.7% |
Summary: The Southwestern Queens real estate market had 706 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 56 | 61 | +8.9% |
| 2 Bedrooms | 87 | 89 | +2.3% |
| 3 Bedrooms | 203 | 221 | +8.9% |
| 4 Bedrooms | 119 | 129 | +8.4% |
| 5+ Bedrooms | 203 | 206 | +1.5% |
Summary: The Southwestern Queens housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 1.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 | 44 | -26.7% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwestern Queens, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in Southwestern Queens in March 2024, down by 26.7% month-over-month. Of the 44 sold homes, 75% were sold under asking, 11% were sold at asking, and 14% were sold over asking.
Days on Market for Southwestern Queens, NY
How long does it take to sell a home in Southwestern Queens, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 83 Days | 112 Days | +34.6% |
Summary: Homes in Southwestern Queens had an average of 112 days on market in Mar 2024, up by 34.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Southwestern Queens has remained consistent over time.
Summary: During March 2024, 44 homes were sold in Southwestern Queens; 14% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 43% 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. 
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. 
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