22 APRIL 2, 2020 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Increase in home sales at a loss in Queens: Report
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
Queens saw an uptick in the
percent of homes sold at a loss
last year, according to a new
report. The rest of the New York City
experienced a similar fate — citywide,
about one in 10 home sellers took a loss
in 2019.
In Queens, about 6.3 percent of
homes sold were done so at a loss in
2018. The following year, that number
rose to 7.8 percent, according to
StreetEasy. Meanwhile, the average
price of a home in Queens remained
at a record high.
In the early months of 2020, the
story in Queens remains the same.
A little over 7 percent of homes are
selling for a loss this year, according
to the real estate company.
Nonetheless, the borough fared
better than Manhattan last year.
In 2019, about 15 percent of homes
sold at a loss, an increase of about
seven percentage points, according
to the report. And while Queens’
home prices were stagnant, Manhattan’s
market continued to take
a dive. Home prices fell 5 percent
year-over-year, the fastest declining
rate on record, according to
StreetEasy.
The report also found that condos
were more likely to sell at a loss than
co-ops in 2019. This trend can be contributed
to the fact that condos tend
to be newer, according StreetEasy.
Based on the numbers from the
first two months of 2020, StreetEasy
expects even more homes to sell at a
loss this coming year.
In addition, the coronavirus crisis
will likely have an impact on the future
average price of homes. While
it is remained to be seen whether or
not home prices will follow recent
declines in the stock market, Street-
Easy notes, that in the previous
recession, the housing market bottomed
out several years after stock
prices hit their lowest points.
Photo by Christina Santucci
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
60th Street
Listings selected at random. Courtesy MLS
Under $600,000
63-34 Fresh Pond Road
$549,740
Condo
1 bedroom, 1 full bathroom
Tomasz Smolinski, Omega Realty
of Greenpoint LLC
$600,000-$1,000,000
203 Onderdonk Ave.
$681,100
HI ranch, 1 family
2 bedroom, 1 full bathroom
David Torres, Owners.Com
Over $1,000,000
62-44 60th St.
$1,050,000
Colonial, 2 families
5 bedrooms, 3 full bathrooms
Barbara Piascik, EXP Realty
77th Road 56th Avenue 79th Street
Under $600,000
80-80 Cypress Ave.
$599,999
1 family, bungalow
3 bedrooms, 1 full bathroom
Rosa Collado, Keller Williams
Landmark
$600,000-$1,000,000
72-48 65th Pl.
$628,000
Ranch, 1 family
2 bedrooms, 1 full bathroom
Juan Barreneche, EXP Realty
Over $1,000,000
79-69 77th Road
$1,090,000
Colonial, 2 families
6 bedrooms, 2 full bathrooms
Janeth Andrade, FIRST FLAG
Realty Inc
Under $600,000
65-31 52nd Ave.
$475,000
Condo
1 bedroom, 1 full bathroom
Tao Guan, Douglas Elliman Real
Estate
$600,000-$1,000,000
73-55 52nd Ct.
$959,000
Colonial, 1 family
3 bedrooms 2 full and 1 half
bathrooms
Lucy Lu, Landmark International
R E LLC
Over $1,000,000
61-49 56th Ave.
$1,690,000
Duplex, 2 families
8 bedrooms, 6 full bathrooms
Jaroslaw Kaszuba, Exit All Seasons
Realty
Under $600,000
77-45 66th Road
$599,900
2 story, 2 family
3 bedrooms, 2 full and 1 half
bathrooms
Christopher King, Joseph T King
Real Estate Inc
$600,000-$1,000,000
62-22 80th St.
$995,000
2 family, townhouse
4 bedrooms 2 full bathrooms
Ermir Elmazi, Compass Greater
NY LLC
Over $1,000,000
66-43 79th St.
$1,850,000
2 story, 2 families
6 bedrooms, 3 full bathrooms
John Amore, Prime Realty
/Owners.Com
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