32 APRIL 5, 2018 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Queens rents continue decline as home prices soar: report
BY SUZANNE MONTEVERDI
SMONTEVERDI@QNS.COM / @SMONT76
The real estate market in Queens
continues to be favorable for
renters, according to a new
report.
Researchers at real estate site StreetEasy
determined that in the month of
February, rental prices in the borough
fell 1.9 percent year over year to an
average of $2,064. This is the largest
annual decline recorded for the borough
since the site started tracking
approximately 13 years ago.
Even the borough’s priciest
sub-market — northwest Queens —
saw a substantial drop: prices fell
3.3 percent year over year to $2,148,
translating to an average savings of
$72 a month. Eastward neighborhoods
Flushing, Elmhurst, Kew Gardens
and Rego Park also saw substantial
decreases in median asking rents.
On the opposite end, Woodhaven
saw the highest increase in median
asking rent at nearly 34 percent. Jamaica
Estates saw the second highest
increase at 9 percent.
Meanwhile, home prices continue
to rise, with researchers reporting
price indices climbing to an all-time
high of $516,148 since the site started
tracking. When taking neighborhoods
in Queens, Manhattan and Brooklyn
into account, Jamaica saw the highest
median asking price increase at 987
percent. Homes in this neighborhood
sold for an average of $1,245,000.
Malba, Howard Beach, Corona and
south Ozone Park also saw substantial
home price increases. Meanwhile,
Oakland Gardens and Douglaston saw
the highest decreases.
Still, researchers noted the share
of homes with a price cut grew across
the borough. The amount of price
cuts off ered on Queens homes rose
1.1 percent to 5.9 percent in February.
South Queens was the only area
where price cuts declined.
The report illustrates continued
trends outlined in an assessment released
by the site last month, where
falling rents and climbing home sales
prices were also reported.
Data included in the calculation of
rent indices comes from listings submitted
to StreetEasy by brokerages,
property managers and individual
landlords. Home sales calculations
include data on condos, co-ops, townhouses
and single-family homes and
are sourced from the New York City
Department of Finance and Street-
Easy listings.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD
Norman Street 57th Street 53rd Avenue 63rd Avenue
Under $600,000
2116 Greene Avenue
$495,000
Condo
2 bedrooms, 1 bathroom
Sameer Rastogi
Charles Rutenberg Realty
$600,000-1,000,000
57-23 Catalpa Avenue
$810,000
2-family home
5 bedrooms, 2 bathrooms
Peter Pellegrini
Peter Pellegrini Realtors
Over $1,000,000
1741 Norman Street
$2,390,000
6-family apartment house
12 bedrooms, 8 bathrooms
Novica Jozo Sesjak
Winzone Realty
GLENDALE
Under $600,000
90-60 Union Turnpike
$400,000
Co-op
2 bedrooms, 1 bathroom
Eileen Massone
Co-Op Connection
$600,000-1,000,000
80-63 57th Street
$859,000
1-family split ranch
3 bedrooms, 1 bathroom
Maria Trinceri
Century 21 Amiable Realty Group II
Over $1,000,000
71-30 68th Place
$1,389,000
4-family home
8 bedrooms, 4 bathrooms
Mauro Ortiz
Success King Realty
MASPETH
Under $600,000
52-30 65th Place
$425,000
Co-op
3 bedrooms, 1 bathroom
Erika Demkowicz
Donna Demkowicz Realtors
$600,000-1,000,000
59-20 59th Drive
$850,000
2-family Colonial
5 bedrooms, 2 bathrooms
Rosa Collado
Keller Williams Realty Gold Coast
Over $1,000,000
69-16 53rd Avenue
$1,399,900
3-family townhouse
5 bedrooms, 3 bathrooms
Susan Foo
O’Kane Realty
MIDDLE VILLAGE
Under $600,000
67-30 73rd Place
$495,000
1-family home
2 bedrooms, 1 bathroom
John Amore
Exit Kingdom Realty
$600,000-1,000,000
84-05 63rd Avenue
$898,000
2-family Colonial
3 bedrooms, 2 ½ bathrooms
Igor Rafailov
E Z Sell Realty
Over $1,000,000
76-05 68th Avenue
$1,350,000
3-family home
7 bedrooms, 3 ½ bathrooms
Anna Szymanska
Marko Polo Realty Group
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