WWW.QNS.COM RIDGEWOOD TIMES JANUARY 30, 2020 29
REAL ESTATE
Qns homes spend least amount of time on the market: Report
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
Homes in Queens sold faster than homes in every
other borough in New York City in the fourth
quarter of 2019, according to a new report.
Queens homes spent an average of 68 days on the
market in the last quarter of the decade, which was
nine days faster than the year before and faster than
homes in Manhattan, Staten Island, the Bronx and
Brooklyn, according to StreetEasy. It’s a sign of a good
housing market in Queens — one that is growing and
is relatively aff ordable when compared with the rest
of the city.
Some parts of Queens are selling faster than others.
Northwest Queens homes, including those in Astoria
and Long Island City, sold the fastest in the borough,
spending a median of 60 days on the market, 29 days
faster than last year.
But just because they sell fast, doesn’t mean they
sell high.
Despite spending less time on the market, the average
price of a home in Queens remained the same
from a year ago, selling for around $509,000, one of the
lowest prices in the city, according to StreetEasy.
The new report also noted that there were more
homes to choose from in the borough in the last
quarter of 2019. The sales inventory increased by 1.2
percent when compared to last year, with 4,308 homes
on the market.
“Given the relative aff ordability of Queens, home
shoppers continue to fi nd great value in the borough,
and have an expanding number of options from which
to choose,” said Nancy Wu, a StreetEasy economist.
“Inventory is growing, especially in areas like Long
Island City and Jamaica where there is a ton of new
development, which means that sellers in these areas
are facing stiff er competition in order to stand out.”
According to Wu, this puts the power in the hands
of the buyers.
“This is good news for buyers, because they now
hold the negotiating power, and can aff ord to be picky
during their home search,” Wu said.
The story isn’t as cheery for the city’s other boroughs,
particularly Manhattan.
According to StreetEasy, Manhattan’s luxury
market has taken a turn for the worse. As more
and more luxury buildings are built, the prices
have been driven down to compete in the saturated
market.
“With so much new construction saturating the
Manhattan real estate market, we were bound to see
prices start to sink at record paces,” Wu said. “This
is happening across all price points and boroughs,
as prospective buyers wait out the market from the
comfort of their rentals. Market dynamics in 2020 will
continue to favor the buyer across all price tiers, and
many sellers will have to face the fact that if they want
to sell, it may very well be for less than their initial
asking price.”
As the total sales inventory in Manhattan rose 3 percent
in the fourth quarter, homes stayed on the market
for 96 days on average, 10 days more than last year.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Gates Avenue
Listings selected at random. Courtesy MLS
Under $600,000
1728 George St.
$459,000
Multi-Family
4 bedrooms, 2 bathrooms
Century 21 American Homes
$600,000-$1,000,000
203 Onderdonk Ave.
$691,600
Hi Ranch, 1 family
2 bedrooms, 1 full bathroom
David Torres, Owners.com
Over $1,000,000
1875 Gates Ave.
$1,080,000
Colonial, 2 family
6 bedrooms, 2 full bathrooms
Niang Zheng, Winzone Realty
Inc
86th Street 71st Street 79th Place
Under $600,000
8 Valentine Pl.
$575,000
Other, 1 family
2 bedrooms, 1 full bathroom
Wioletta Bednarczuk, Exit All
Seasons Realty
$600,000-$1,000,000
77-11 86th St.
$658,000
Townhouse, 1 family
3 bedrooms, 1 full and 1 half
bathrooms
Louis Pastorini, Coldwell Banker
Phillips
Over $1,000,000
71-27 72nd Pl.
$1,099,000
Colonial, two families
4 bedroom, 2 full bathrooms
Neal Modi, RE/MAX Frontier
Under $600,000
52-15 65th Pl.
$419,000
Co-Op
2 bedrooms, 1 bathroom
Jaroslaw Kaszuba, Exit All Seasons
Realty
$600,000-$1,000,000
60-64 71st St.
$789,000
Colonial, 1 family
3 bedrooms, 2 full bathrooms
Christian Oliva, Connexion
International Real Estate Services Inc
Over $1,000,000
53-40 72nd Pl.
$1,090,000
Colonial, 2 families
6 bedrooms, 3 full bathrooms
Lucy Lu, Landmark International
Real Estate LLC
Under $600,000
66-59 71th St. Unit 3c
$486,888
Condo
1 bedroom, 1 full bathroom
Silvia Corrales, Keller Williams
Landmark II
$600,000-$1,000,000
76-22 57th Road
$729,000
Contemporary, 1 family
2 bedroom, 1 full bathroom
Sandra Zytko, O’Kane Realty
Over $1,000,000
66-04 79th Pl.
$1,059,000
Colonial, 2 family
5 bedrooms, 2 full bathrooms
John Lombardi, Crifasi Real Estate
Inc
QNS FIle photo
/Owners.com
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