REAL ESTATE
Queens home prices are fl attening out: Report
BY EMILY DAVENPORT
edavenport@qns.com
@QNS
A recent report found that while home
prices are stabilizing, the number of rentals
off ering concessions in Queens were on the
rise last month.
StreetEasy recently released their
November market report, which took a look
at real estate trends in Queens (and the city
as a whole) last month. According to their
fi ndings, home prices in Queens stayed fairly
fl at compared to this time last year, with
prices averaging $510,201. Th e Queens luxury
Sales in QueensHOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
WHITESTONE JACKSON HEIGHTS ST. ALBANS KEW GARDENS
Under $500,000
212-16 36th Ave. UNIT 2A, Bayside
$195,000
Co-op
1 bedroom, 1 bathroom
Maria Marquez, East Coast REALTORS
Inc
$500,000-$900,000
10-27 116th St., College Point
$599,000
Colonial
2 bedrooms, 1 bathroom
Laura Copersino, Douglas Elliman Real
Estate
Over $900,000
157-57 Rose Ave., Flushing
$3,100,000, Colonial
4 bedrooms, 5 bathrooms
Qingsong Liu, Century Homes Realty
Group LLC
Under $500,000
33-04 93rd St. UNIT 5X, Jackson Heights
$219,000
Co-op
1 bedroom, 1 bathroom
William Kokoris, Compass Greater NY
LLC
$500,000-$900,000
48-57 58th St., Woodside
$755,000
Contemporary
3 bedrooms, 2 bathrooms
MD Hoque, Wagner & Kelly Inc
Over $900,000
2-17 51st Ave. UNIT 1101, Long Island
City
$2,350,000
Condo
3 bedrooms, 2 bathrooms
Signature Premier Properties
Under $500,000
8740C Francis Lewis Blvd. UNIT 22-B,
Queens Village
$155,000
Co-op
1 bedroom, 1 bathroom
Karen Larson, Century 21 American
Homes
$500,000-$900,000
120-22 Marsden St., Jamaica
$515,000
Colonial
4 bedrooms, 1 bathroom
Osmar Reis, My Borough Realty LLC
Over $900,000
82-29 Kent St., Jamaica Estates
$2,159,000
Tudor
5 bedrooms, 3 bathrooms
David Yudell, Exit Realty First Choice
Under $500,000
86-10 151st Ave. UNIT 4H, Howard
Beach
$189,888
Co-op, 1 bedroom, 1 bathroom
Carolyn DeFalco, Keller Williams Realty
Liberty
$500,000-$900,000
7826 88th Rd., Woodhaven
$599,000
Colonial
4 bedrooms, 7 bathrooms
Jiangwei Zhou, Prospes Real Estate Corp
Over $900,000
124 Slocum Cres., Forest Hills
$3,275,000
Tudor, 5 bedrooms, 5 bathrooms
Rachel Borut, Douglas Elliman Real
Estate
market, which accounts for 20 percent
of available homes, also stayed stable at
$1,013,000.
Of all the boroughs analyzed in the report,
Queens was the only one that saw an increase
in price cuts.Th roughout the borough, one
in ten houses on the market saw a price cut,
raising two percentage points year-over-year.
While home prices stayed more or less the
same, rental prices in Queens were on the
rise. Central Queens in particular saw a 3.1
percent increase year-over-year, with prices
averaging $2,194.
Despite the increases, the number of
landlords off ering concessions is Queens
were also increasing compared to last year.
Borough-wide the share of concessions
rose to 15 percent last month. In northwest
Queens, 21 percent of rentals advertised
concessions last month, a 6.7 percent
increase year-over-year.
“Landlords off ering free months of rent for
tenants signing new leases is a great way for
them to fi ll their units quickly without having
to reduce the monthly check they’ll be
receiving,” says StreetEasy Economist Nancy
Wu. “Th e uptick in concessions shows that
even though rents are still climbing, tenants
should never shy away from negotiating
other incentives with their landlord, like free
months of rent, waived amenity fees or other
deal sweeteners.”
Visit streeteasy.com to read the full report. Photo via Shutterstock
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