Is Queens County, 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 County has remained a Buyer's Market.
Key Takeaway
Queens County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Queens County, NY
How much do homes in Queens County, NY cost?
Median Sold Price
$689,446
$500/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Queens County has remained the same since last year.
Summary: The median home sold price in Queens County was $689,446 in April 2024, down 0.3% 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 | $311K | $300.5K | -3.4% |
| 2 Bedrooms | $439.1K | $449.7K | +2.4% |
| 3 Bedrooms | $766.4K | $761.8K | -0.6% |
| 4 Bedrooms | $912.3K | $897K | -1.7% |
| 5+ Bedrooms | $1.1M | $1.1M | 0.0% |
Summary: Queens County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.4%, 2 bedroom homes increased by 2.4%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Counties
| Nassau County | $679.8K | $710.7K | +4.5% |
| Kings County | $959.5K | $965.7K | +0.6% |
| Queens County | $691.7K | $689.4K | -0.3% |
Housing Supply in Queens County, NY
How many homes are available in Queens County, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6,892 | 7,547 | +9.5% |
Summary: The Queens County real estate market had 7,547 homes for sale in April 2024, a 9.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1,553 | 1,656 | +6.6% |
| 2 Bedrooms | 1,576 | 1,699 | +7.8% |
| 3 Bedrooms | 1,469 | 1,637 | +11.4% |
| 4 Bedrooms | 877 | 946 | +7.9% |
| 5+ Bedrooms | 1,417 | 1,609 | +13.5% |
Summary: The Queens County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 13.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 584 | 584 | 0.0% |
Asking Price vs. Sold Price
405 Homes Were Sold
Under Asking
90 Homes Were Sold
At Asking
89 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Queens County, you may be able to get a good deal. 69.3% of homes here sold below asking price last month.
Summary: A total of 584 homes were sold or pending in Queens County in April 2024, the same as the previous month. Of the 584 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% were sold over asking.
Days on Market for Queens County, NY
How long does it take to sell a home in Queens County, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 98 Days | 94 Days | -4.0% |
Summary: Homes in Queens County had an average of 94 days on market in Apr 2024, down by 4% compared to last year.
Breakdown of Home Sale Times
132 Homes Were Sold
Under 30 Days
203 Homes Were Sold
In 30 - 90 Days
208 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Queens County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 584 homes were sold in Queens County; 23% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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