20 MARCH 3, 2022 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
BY JENNA BAGCAL
JBAGCAL@SCHNEPSMEDIA.COM
@JENNA_BAGCAL
Numbers from the January 2022
report from OneKey MLS
indicated a “strong” real estate
market throughout the company’s
market area, including Queens, with
the pending sales median prices on
homes leveling off , according to OneKey
MLS’ CEO Jim Speer.
“We’re actually seeing that the pending
prices, which is what they’re going
under contract as is $668,000 and it’s
been right in that ballpark since August
2021,” Speer told QNS in February.
He added that although July 2021 had
higher pending prices at over $705,500,
the report shows that prices have
“really leveled off ” across the board.
“That’s a very good thing for the
homebuying public that’s out there,”
Speer said.
The report, which shows numbers for
single and multi-family homes, condos
and co-ops, indicated that the pending
prices from January 2022 ($668,500)
went up just slightly from December
2021 ($660,000).
In the past, Speer said that the real estate
market went through a long period
of price growth, where the increase in
pending sales prices, year over year,
reached as high as 30%.
“I think we may have reached a point
where the buyers are not going to pay
more than they are now,” he said. “It
could be that we found that it was reaching
a point that it wasn’t sustainable,
that the buyers really weren’t going to
pay more than that, which is what has
caused a leveling off of the prices.”
The CEO said that he predicts that
prices will stay in a similar range going
forward and that they are unlikely to
fl uctuate majorly in either direction.
“We’re still at the point where there’s
just a great demand for properties for
homes to be purchased, which will
continue as long as the interest rates
stay low. I would anticipate that we’ll
still stay in this leveling off of the prices,”
Speer said.
But an increase in interest rates could
mean less demand, depending on how
high rates go.
“I would think if they go up to 4%, it
wouldn’t make much of a diff erence. If
they go up to 5% it probably will be a bit
of a drag in the housing market,” Speer
said.
In terms of the sold property median
price, or the closing price on a home, the
report indicates that it’s been at around
$685,000 since November 2021.
The percent change year over year
for the median pending price is 4.5%
over last year and 5.1% over last year for
the sold median price in Queens.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Linden Street
Listings selected at random. Courtesy MLS
Under $600,000
62-48 60th Place, Unit 2A
$599,000
Condo
2 bedrooms, 2 bathrooms
Lucy Lu, Landmark International
R E LLC
$600,000-$1,000,000
7822 61st St.
$859,888
Multi-family
4 bedrooms, 2.5 bathrooms
Amberly Sclar, New York Realty
Minimax Inc
Over $1,000,000
61-41 Linden St.
$1,100,000
Multi-family
6 bedrooms, 6 bathrooms
Roman Nissim and Benjamin
Timlichman, Keystone Realty USA
Corp
Under $600,000
76-18 69th Pl, Unit 3D
$535,000
Condo
2 bedrooms, 2 bathrooms
Justin White, Keller Williams
Legendary
$600,000-$1,000,000
88-13 78th Ave.
$999,000
Single-family
3 bedrooms, 1 full bathroom and 2
half bathrooms
Louis Pastorini, Coldwell Banker
Phillips
Over $1,000,000
88-27 75th Ave.
$1,399,000
Multi Family
7 bedrooms, 5 bathrooms
Michal Marek and Bartosz Olszewski,
Sold By Bart R E Partners Inc
Under $600,000
52-21 65th Place, Unit 6K
$335,000
Cooperative
1 bedroom, 1 bathroom
Elisa Bonavita and John Pierre
Morales, Daniel Gale Sothebys Intl
Rlty
$600,000-$1,000,000
68-02 60th Road
$949,000
Single-family
2 bedrooms, 1.5 bathrooms
Kaszuba Jaroslaw, Exit All Seasons
Realty
Over $1,000,000
60-45 60th Drive
$1,249,000
Multi-family
4 bedrooms, 2 bathrooms
Joseph Crifasi, Crifasi Real Estate
Inc
Under $600,000
66-41 69th St., Unit 1D
$395,000
Condo
1 bedroom, 1 bathroom
Xiao Zheng and Mark Gorenstein,
Jamie & Connie Real Estate Grp
$600,000-$1,000,000
68-14 78th St.
$949,000
Multi-family
5 bedrooms, 2 bathrooms
Thomas Macaluso, Macaluso
Realty
Over $1,000,000
62-11 83rd St.
$1,698,000
Single-family
5 bedrooms, 2.5 bathrooms
Thomas Pillari and Teressa Fazio,
Thomas V Pillari
Pending sales median prices
in Queens indicate ‘strong’
real estate market: Report
78th Avenue 60th Road 83rd Street
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