TRENDS & DATA

Queens Prices Reach New Highs Despite Slowdown in Manhattan and Brooklyn

Queens Prices Reach New Highs Despite Slowdown in Manhattan and Brooklyn

By Emily McDonaldSep. 26, 2018
Image of queens home prices
Home prices in Queens rose 7.1 percent since last year, reaching a new high of $536,028, according to the August 2018 StreetEasy Market Reports[i]. Home prices in Queens are now 23 percent higher than they were in 2013, driven largely by the overwhelming demand for affordable homes across the city.
Despite the fast pace of price growth, Queens remains relatively affordable compared to Manhattan and Brooklyn where prices were stagnant at $1,154,908 and $726,874, respectively. Queens also had the highest share of price cuts in the city at ten percent, up 3.4 percentage points over last year. Queens homes moved off the market quickly, selling after a median of 62 days, more than a month faster than the 99 days homes spent on the market in Manhattan... Clique link above to read full report...

Comments

Post a Comment

Popular posts from this blog

NYC Sales Market Strengthens in April!!

Image
April Market Reports: 3 Important Takeaways to Share With Your Clients May 30, 2019 OVER 1,000 MANHATTAN HOMES ENTERED CONTRACT IN APRIL. According to the  StreetEasy April 2019 Market Reports,  the New York City sales market may be strengthening. This news comes after months of weakening prices across the city, rising share of price cuts and growing days on market. Read on for three takeaways from our most recent report that will offer you and your seller encouraging signs. Nearly 1,200 Homes Entered Contract in Manhattan This April The context:  The number of pending sales in Manhattan rose by 26.6% year-over-year to 1,193 in April. That marks an annual increase of more than 250 and the most homes to enter contract since 2015. Upper Manhattan saw a lot of contact activity with pending sales doubling to 132 from 66 the year before. Washington Heights and Central Harlem led the charge with 53 and 29 homes entering contract, up by 104% and 53%, respectively. Th...
Read more

Anne Eisenhower Finds Buyer for Her $35M Southampton Estate

Image
Claverack, the  $35 million  Southampton estate belonging to  Anne Eisenhower (yes, like the president!) has finally found a buyer. Sotheby's Harald Grant, who's listed the property for years now, "confirmed" to the  WSJ  "that the three-story house ... was in contract and due to close before the end of the year." Sadly, Grant stayed mum about the price, but most brokers still think it'll rank as one of the top sales of the year. And seeing how Eisenhower paid  only $5 million  for the place in the '90s, she stands to profit no matter what. In other news, if all this talk about Eisenhower has left you wanting more history, take a look at  this post , which shows how Claverack has changed over the years by Ian Ratner,Curbed ---------------------------------------------------------------------------------------------------------------------------------- A historic 19th-century Southampton mansion owned by Anne Eisenhower, a gran...
Read more

Can You Use a VA Loan to buy a CONDO in New York?

Image
  Can You Use a VA Loan to buy a CONDO in New York? Yes  it is possible to use a VA loan to purchase a condo in New York. BUT…the condo must be a VA approved condominium. If the condo is not on the list, you cannot use a VA loan to purchase the condo. Find VA Approved Condos HERE . Read the full article:    Can You Use a VA Loan to buy a CONDO in New York? WOULD YOU LIKE TO KNOW MORE? PLEASE CONTACT US! IT IS OUR PLEASURE TO ASSIST YOU! THANK YOU!  Fernando & FBR team Fernando Branco , GRI, ABR, CNE PRINCIPAL BROKER Graduate Realtor Institute (GRI)  Accredited Buyer Representative (ABR)  Certified Negotiator Expert (CNE) Fernando Branco Realty 162 Huntington St, Ste 1R, Brooklyn, NY 11231 c: (212) 321-0115 e:  Team@fernandobrancorealty.com Working by referral. Let us help you find a home too!! NYS Housing, Anti-Discrimination & Agency Notice & Disclosures
Read more