Is Queens, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Queens has remained a Buyer's Market.
Housing Prices in Queens, NY
How much do homes in Queens, NY cost?
Median Sold Price
$689,984
$500/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Queens was $689,984 in April 2024, down 0.5% from last year, and the median price per square foot was $500.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $310.3K | $300.4K | -3.2% |
2 Bedrooms | $439K | $449.7K | +2.4% |
3 Bedrooms | $765.2K | $761K | -0.6% |
4 Bedrooms | $909.4K | $892.6K | -1.8% |
5+ Bedrooms | $1.1M | $1.1M | -0.1% |
Summary: Queens housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 2.4%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Cities
Valley Stream | $640K | $660K | +3.1% |
New York | $851.6K | $849.1K | -0.3% |
Queens | $693.7K | $689.9K | -0.5% |
Bellerose | $703.5K | $697K | -0.9% |
Housing Supply in Queens, NY
How many homes are available in Queens, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6,924 | 7,586 | +9.6% |
Summary: The Queens real estate market had 7,586 homes for sale in April 2024, a 9.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1,555 | 1,661 | +6.8% |
2 Bedrooms | 1,582 | 1,705 | +7.8% |
3 Bedrooms | 1,478 | 1,649 | +11.6% |
4 Bedrooms | 887 | 957 | +7.9% |
5+ Bedrooms | 1,422 | 1,614 | +13.5% |
Summary: The Queens housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 13.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
589 | 586 | -0.5% |
Asking Price vs. Sold Price
407 Homes Were Sold
Under Asking
90 Homes Were Sold
At Asking
89 Homes Were Sold
Over Asking
Summary: A total of 586 homes were sold or pending in Queens in April 2024, down by 0.5% month-over-month. Of the 586 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
97 Days | 93 Days | -3.9% |
Summary: Homes in Queens had an average of 93 days on market in Apr 2024, down by 3.9% compared to last year.
Breakdown of Home Sale Times
132 Homes Were Sold
Under 30 Days
205 Homes Were Sold
In 30 - 90 Days
208 Homes Were Sold
Over 90 Days
Summary: During April 2024, 586 homes were sold in Queens; 23% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.