WWW.QNS.COM RIDGEWOOD TIMES MAY 30, 2019 31
REAL ESTATE
Homes are selling for less, report fi nds
BY EMILY DAVENPORT
EDAVENPORT@RIDGEWOODTIMES.COM
@RIDGEWOODTIMES
A recent report found that listing
price growth throughout the
borough has slowed down
compared to years prior.
StreetEasy recently released their
April market report, which took a
look at real estate trends in Queens
last month. According to their
findings, Queens saw a 2.4 percent
growth in listing prices compared to
last year, reaching $516,739. However,
despite the growth the market
showed signs of slowing from the
higher rates seen since 2016.
“While many sellers are still
struggling to attract a buyer, April
brought some good news to those
who have feared a continued slide
in the sales market,” said StreetEasy
Senior Economist Grant Long. “Early
signs tell us that some sellers
are finally pricing their homes
more realistically and finding
buyers when they do so. Those still
struggling to find the right buyer
should take this as a sign to revisit
their pricing expectations. Buyers
are out there, but with most of the
bargaining power in their hands,
they’re going to continue to hold out
for more reasonable prices.”
Sales inventory also saw some slow
growth in Queens. While the total
inventory rose 21.1 percent overall,
it is the slowest increase since the
summer of 2018. Year-over-year, new
home inventory in Queens grew 13.4
percent during April.
The report found that more
Queens homes stayed on the
market for longer periods on time
in April. Homes in Queens spent a
median of 57 days on the market — a
9 days increase from last year.
Despite the longer periods of time
on the market, more homes went into
contract during April compared to
last year – Queens saw a 10 percent
increase in pending sales compared
to April 2018. Northwest Queens in
Photo via Getty Images
particular had 4.1 percent more
homes go into contract in April,
however compared to March 2019,
the northwest Queens submarket
had 100 less pending sales in April
2019.
The number of listings offering
a price cut saw a slight increase
in Queens, raising to 9.9 percent,
marking a 1.3 percent increase yearover
year. Northwest Queens saw a
decrease in the share of price cuts
— dropping down 2.6 percentage
points to 12.4 percent.
Visit streeteasy.com to read the
full report.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
61st Street 79th Place 56th Road 67th Road
Under $600,000
61-20 71st Avenue
$569,000
Condo
1 bedroom, 1 bathroom
Jaroslaw Kaszuba
Exit All Seasons Realty
$600,000-$1,000,000
72-60 61st Street
$949,000
Two-family colonial
5 bedrooms, 2 bathrooms
Dariusz Bunko
Winzone Realty
Over $1,000,000
1660 Stephen Street
$1,499,000
Two-story mixed-use
2 bedrooms, 3 bathrooms
Marek Sobolewski
Trademarko Realty
Under $600,000
90-50 Union Turnpike
$375,000
Co-op
2 bedrooms, 1 bathroom
Michal Marek, Bartosz Olszewski
Keller Williams Landmark II
$600,000-$1,000,000
78-18 79th Place
$699,000
Colonial
3 bedrooms, 2 bathrooms
Oscar Cervone
Douglas Elliman Real Estate
Over $1,000,000
72-28 Indiana Avenue
$1,300,000
Contemporary
4 bedrooms, 2 bathrooms
Marek Sobolewski, Robert
Rutkowski
Trademarko Realty
Under $600,000
62-19 53rd Avenue
$389,000
Co-op
2 bedrooms, 1 bathroom
Marie Breslin
O’Kane Realty
$600,000-$1,000,000
61-63 56th Road
$668,888
2-Story
3 bedrooms, 2 bathrooms
Maryanna Zero
Home Hunters Real Estate
Over $1,000,000
54-36 72nd Street
$1,475,000
Two-family two-story
6 bedrooms, 3 bathrooms
Marek Sobolewski
Trademarko Realty
Under $600,000
66-41 69th Street
$423,700
Condo
1 bedroom, 1 bathroom
Nora Avalos
NY Superior Realty
$600,000-$1,000,000
63-67 77th Place
$993,000
Colonial
3 bedrooms, 2 bathrooms
John Lombardi
Crifasi Real Estate
Over $1,000,000
75-21 67th Road
$1,097,000
Two-family farmhouse
5 bedrooms, 2 bathrooms
Gobinda Lama
Prime America Real Estate
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