www.qns.com APRIL 1, 2022 32RIDGEWOOD TIMES
REAL ESTATE
New report shows rapid demand in New York City’s spring homebuying season
BY ESTHER WICKHAM
EDITORIAL@QNS.COM
@QNS
StreetEasy shows in a February 2022 market report that
indicates a competitive spring homebuying season, and
homebuyers are feeling the pressure.
In February, 4,078 people listed their homes for sale on
the market in New York City, which was the highest number
of new listings in the market for any February, according
to StreetEasy records. This is a sign that the market has
continued to rebound since the pandemic. The previous
high was in February of 2018, with 3,538 homes added to
the market.
StreetEasy data shows an increase in available homes
between January and February of 2022. A total of 16,622
homes were for sale in February, 549 more than there were
in January. Still, inventory was 12.2% lower than it was in
February of last year.
Mike Biryla, a licensed real estate salesperson at Triplemint
and a StreetEasy Expert, explains that the up in listing
signifies that home hunting season is steadily returning.
“As the weather gets nicer, many sellers find it an opportunistic
time to showcase their properties as the term
‘tree-lined street’ becomes a reality,” Biryla said. “An increase
in listings also brings an increase in buyers, so it’s very
important to have a solid understanding of what matters most
in your home search. That way, as more and more apartments
come onto the market, you’ll be in the right position to move
forward quickly and find the home of your dreams.”
The number of cuts on offering prices shows how strong
the demand for buyers is. In February, 8.1% of New York
City, for-sale listings advertised a price cut. The median
asking price for a home was $950,000, stable from a year
prior. More price cuts may be coming, though. The saleto
list price ratio in New York City is dropping, so sellers
are taking cuts between their original list price and their
closing price.
“It’s been two years of unpredictability in the New York
City market, but this data shows that the seasonality of the
sales market is back,” said Casey Roberts, StreetEasy Home
Trends Expert. “This spring will be competitive for homebuyers,
but the increase we’re seeing in new inventory is
promising. The recent rise in home prices should motivate
even more sellers to list their homes for sale, making it
easier and more likely for buyers to find and win a home
they love.”
All five boroughs have been affected as the market demand
slowly rises.
In Manhattan, 1,926 homes were added to the market in
February. That’s 25.6% more than the previous year. The
median asking price was $1,470,000, 8.9% higher than last
Photo via Getty Images
year.
Queens was the only borough analyzed for this report
that saw an annual decline in median asking prices. The
asking price in February was $588,000, down 3.6% compared
to last year. The total number of sales was stagnant
compared to the previous year, with 3,072 available homes
on the market.
Queens’ rental inventory remained stable throughout
the pandemic years compared to Brooklyn and Manhattan.
Overall, New Yorkers are looking at a strong buyer demand
and low inventory this spring season.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Linden Street 67th Place 60th Avenue 83rd Place
Under $600,000
59-26 Bleecker St., Unit 2D
$450,000
Condo
1 bedroom, 1 bathroom
Florin Spariosu, Sparrow REALTORS
LLC
$600,000-$1,000,000
59-12 Putnam Ave.
$980,000
Multi-family
4 bedrooms, 3 bathrooms
Johanna Ramirez and Anthony Johnson
Freeman
Keller Williams Realty Liberty
Over $1,000,000
61-41 Linden St.
$1,100,000
Multi-family
6 bedrooms, 6 bathrooms
Keystone Realty USA Corp
Under $600,000
90-60 Union Tpke., Unit 19E
$448,000
Cooperative
2 bedrooms, 1 bathroom
Zenxin Wang, Goldstone NY Realty
LLC
$600,000-$1,000,000
71-41 67th Pl.
$945,000
Multi-family
4 bedrooms, 2 bathrooms
Jacqueline Nestor, LAFFEY REAL
ESTATE
Over $1,000,000
71-19 Cooper Ave.
$1,295,000
Multi-family
5 bedrooms, 4.5 bathrooms
Roman Nissim, Keystone Realty USA
Corp
Under $600,000
52-21 65th Pl., 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
6966 Caldwell Ave.
$960,000
Multi-family
5 bedrooms, 2.5 bathrooms
Michael Feldman, Queens 4 Star Realty
LLC
Over $1,000,000
70-17 60th Ave.
$1,150,000
Single-family
3 bedrooms, 2 bathrooms
Christopher Tscherne and Adeline
Biondo, Tscherne Realty Inc
Under $600,000
73-24 69th Ave.
$549,000
Single-family
3 bedrooms, 1.5 bathrooms
Steven Baroumis, SBNY RE
$600,000-$1,000,000
63-54 83rd Pl.
$928,000
Multi-family
4 bedrooms, 2 bathrooms
Christopher Tscherne, Tscherne Realty
Inc
Over $1,000,000
61-41 70th St.
$1,450,000
Single-family
7 bedrooms, 2.5 bathrooms
Sze Guan Tan, B Square Realty Inc
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