TOP 10 R
Real Estate
BY ANGELA MATUA
AMATUA@QNS.COM
eal estate website
PropertyShark
sur-veyed
industry profes-sionals
to gauge what
neighborhoods would
be considered “hot” this
year and Long Island City made the list.
The survey, which ran on Proper-tyShark’s
website for one month, was
taken by 132 residential brokers, inves-tors
and appraisers. Long Island City
was the only Queens neighborhood to
make the list and ranked number seven,
the same ranking as last year. Astoria,
which ranked eighth in last year’s list,
did not make the cut this time.
In the survey, seven percent of re-spondents
identified Long Island City
as one of the top 10 hottest neigh-borhoods.
The median sales price for
homes in the neighborhood in 2017 was
$435,000, a drastic decrease from the
2016 median sales price — $825,000.
The survey also asked professionals
if they thought the L train shutdown
would spur Williamsburg residents to
move away. Many said yes, with 54
percent of respondents saying the top
alternatives for renters would be Bed-
Stuy, Brooklyn Heights, Long Island
City, Park Slope and Jamaica.
A majority of respondents — 70 per-cent
— also agreed that buying a home
will still beat renting in 2018. The year is
also considered a buyer’s market rather
than a seller’s market, according to the
majority of respondents. In the survey,
57 percent of real estate professionals
said the market favors buyers this year
because of an increased supply of new
inventory.
“I think 2018 will see a lot of new
development inventory in presales in
NYC and Brooklyn,” said Zen Avery
from Niche Real Estate. “With many
new developments seeing closings end
of 2017 into the new year of 2018 I
think developers are going to have to
compete with almost brand-new product
ready to move in on the market. It should
create a price leveling or better back-end
concessions for buyers.”
www.qns.com I LIC COURIER I FEBRUARY 2018 15
