REAL ESTATE
Overall rents across Queens are ‘too damn high’: report
Sales in Queens HOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
WHITESTONE WOODSIDE JAMAICA ESTATES HOWARD BEACH
Under $500,000
47-30 217th St., Bayside
$215,000
Co-Op
1 bedroom, 1 bathroom
Dorothy Matinale
Station Realty of Douglaston
$500,000 - $900,000
242-29 Oak Park Dr., Douglaston
$769,000
Condo
3 bedrooms, 3 bathrooms
Jenny Haeng Roe
Block & Lot Real Estate
Over $900,000
157-35 24th Road, Whitestone
$1,488,000
1-family
5 bedrooms, 2 full-baths, 2 half-baths
Michael Lam
Century Homes Realty Group LLC
Under $500,000
41-42 42nd St., Sunnyside
$389,000
Co-Op
1 bedroom, 1 bathroom
Tomer Hatuka
Hatuka Properties Inc
$500,000 - $900,000
47-23 59th Pl., Woodside
$849,000
1-family
2 bedrooms, 2 bathrooms
Moinul Islam
Mega Homes Realty Inc
Over $900,000
48-34 38th St., Long Island City
$1,428,000
2-family Colonial
5 bedrooms, 2 full-baths, 1 half-bath
Elsa Liliana Aristizabel
RE/MAX Team
Under $500,000
87-46 Chelsea St., Jamaica Estates
$154,900
Co-Op
1 bedroom, 1 bathroom
George Herrera
Keller Williams Landmark II
$500,000 - $900,000
80-26 252nd St., Bellerose
$735,000
1-family
4 bedrooms, 2 bathrooms
Kevin Huang
East Coast Realtors
Over $900,000
178-28 Grand Central Pkwy.,
Jamaica Estates $1,449,000
1-family Colonial
4 bedrooms, 4 bathrooms
Vera Mair
Exit Realty First Choice
Under $500,000
118-17 Union Tpke., Forest Hills
$395,000
Co-Op
2 bedrooms, 2 bathrooms
David Kong
Keller Williams Realty Gold Coast
$500,000 - $900,000
132-27 Metropolitan Ave., Richmond Hill
$725,000
1-family
3 bedrooms, 2 full-baths, 1 half-bath
Nison Izgelov
Real Estate Concept Group
Over $900,00
159-35 82nd St., Howard Beach
$959,000
1-family Colonial
4 bedrooms, 3 bathrooms
Maria Trinceri
Century 21 Amiable Realty Group
BY SUZANNE MONTEVERDI
smonteverdi@qns.com / @smont76
Th e cost to rent a home in the “World’s
Borough” is soaring to new heights, a new
report says.
According to a recent study by local real
estate marketplace StreetEasy, Queens
rent prices have reached an all-time high,
climbing to an average of $1,989 per
month. Th e increase is attributed mostly
to northwestern Queens neighborhoods,
where the average rent in June was $2,059.
Additionally, residential prices rose the
most in Queens when compared with
Manhattan and Brooklyn. Th e median
resale price for a home increased 8.3 percent
year-over-year to $500,351. Prices
went up across the borough, increasing
more than 5 percent in every Queens
submarket except the Rockaways, which
remained stagnant.
Looking at median asking price by
neighborhood, prices rose the most yearover
year in Jamaica and Little Neck,
increasing 295.7 and 202.1 percent,
respectively. In another recent real estate
study by RentHop, Jamaica was also
found to be the second least-aff ordable
neighborhood in Queens; the number
one spot was taken by Long Island City.
Corona, Briarwood and Fresh Meadows
also saw a substantial price jump,
with median asking prices for
homes in these neighborhood
increasing 78.2, 49.1 and 30.9
percent, respectively.
Th e neighborhoods of Bay
Terrace, Woodhaven and
Oakland Gardens each saw little
to no increase in median asking
price. Queens neighborhoods
that saw the highest decrease in
median asking price were North
Corona and Whitestone, which
each saw a 44.7 and 42.6 percent
drop, respectively.
In a bit of good news for sellers, the
sale-to-list price ratio remained high,
with Queens sellers typically receiving
just 2 percent less than their initial asking
price.
Sales and rental inventory data was
based on StreetEasy listings. Recorded
sales data was provided by the NYC
Department of Finance.
“Looking at this year’s home shopping
season, we’re seeing a competitive landscape
with rising home prices and falling
inventory levels across the city,” said
StreetEasy Senior Economist Grant Long.
“Inventory is tightest and price growth
strongest among the markets geared
toward those on a budget, perhaps looking
for their fi rst home. But this quarter’s
data shows signs that buyers may
be regaining some leverage: Th e share of
homes that off ered a price cut were up
since last year, signaling that there are
limits to how fast prices can rise and that
more sellers may be willing to negotiate.”
To view the full real estate report, visit
http://streeteasy.com/blog/q2-2017-market
reports/. An interactive data table by
StreetEasy can be accessed at https://public.
tableau.com/profile/streeteasy.real.
estate.research#!/vizhome/2017Q2MarketOverview/
NeighborhoodData.
Photo: Shutterstock