WWW.QNS.COM RIDGEWOOD TIMES AUGUST 1, 2019 29
REAL ESTATE
Quicker home sales in Queens in 2Q: report
BY EMILY DAVENPORT
EDAVENPORT@RIDGEWOODTIMES.COM
@RIDGEWOODTIMES
A recent report found that houses
in Queens are selling faster
than ever before in the second
quarter of 2019.
StreetEasy recently released
their Queens Market Report for the
second quarter of 2019. According
to their findings, the StreetEasy
price index for Queens saw a 1.5
percent increase, raising to $516,374.
This increase is the slowest pace of
growth in the borough since the
fourth quarter of 2013.
Queens had more inventory in
the second quarter compared to
the first quarter with 4,895 homes
for sale — the 14.5 percent increase
set a quarter record. Queens also
saw the largest annual jump in the
number of homes entering contract
at 15.9 percent. Compared to last year,
179 more homes entered contract,
resulting in 1,302 pending sales, the
highest number of pending sales
on record.
“Lower mortgage rates, a strong
economy and steady job growth
have kept demand for homes in New
York City high, helping give the sales
market a much-needed boost after a
year of weakness,” said Grant Long,
StreetEasy Senior Economist. “The
looming mansion tax also spurred a
flurry of sales activity in the second
quarter, as sellers and buyers raced
to close ahead of the July 1 deadline.
While this comes as encouraging
news for sellers, it remains to be
seen how well this market will
be able to absorb the surplus of
homes currently for sale across
price points.”
The median number of days
that homes spent on the market in
Queens went up to 58 days, a fourday
increase year-over-year. Homes
in the northwest region of Queens,
covering Astoria, Long Island City,
Sunnyside and Ditmars-Steinway,
spent a median of 48 days on the
market, eight days less compared to
last year.
The report found that 20.8 percent
of homes on the market offered a
price cut, raising 3.3 percent this
quarter. However, the number of
homes offering a price cut in the
northwest Queens area dropped
down to 22 percent.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
LOCATION LOCATION LOCATION LOCATION
60th Lane Rutledge Avenue 66th Street 76th Street
Under $600,000
63-16 Forest Avenue
$520,000
Condo
2 bedrooms, 2 bathrooms
Joe Hasselt
Joe T. Hasselt Realtor
$600,000-$1,000,000
64-55 Madison Street
$865,000
Two story, Two families
3 bedrooms, 2 bathrooms
Nicholas Oliver
HomeDax Real Estate LLC
Over $1,000,000
75-34 60th Lane
$1,249,000
Townhouse, Two families
7 bedrooms, 2 bathrooms
Ran Dan Pan
Compass Greater NY LLC
Under $600,000
70-33 65th Street
$579,000
Two Story
3 bedrooms, 1 bathroom
Gabriele Kapp
Werba Realty
$600,000-$1,000,000
86-16 Rutledge Avenue
$889,000
Tudor
4 bedrooms, 3 bathrooms
Qiu Fen Li
E Realty International Corp
Over $1,000,000
72-40 Cooper Avenue
$1,488,000
Colonial, Four families
8 bedrooms, 5 bathrooms
Jodi MacHardy
My Home Realty.com LLC
Under $600,000
62-19 53rd Drive
$325,000
Co-op
2 bedrooms, 1 bathroom
Maryanna Zero
Home Hunters Real Estate
$600,000-$1,000,000
52-36 62nd Street
$959,000
Colonial
3 bedrooms, 2 bathrooms
Anthony Reardon
Eliot Hill Realty
Over $1,000,000
53-77 66th Street
$1,288,000
Two story, Two families
5 bedrooms, 3 bathrooms
Hyun Kim
Cana Realty
Under $600,000
57-45 74th Street
$399,000
Condo
1 bedroom, 1 bathroom
Jimmy Liu
Century 21 Sunshine Realty
$600,000-$1,000,000
64-85 83rd Street
$788,000
Tudor
3 bedrooms, 1 1/2 bathrooms
Louis Pastorini
Coldwell Banker Phillips
Over $1,000,000
58-10 76th Street
$1,459,999
Two story, Two families
6 bedrooms, 4 bathrooms
Christopher Espinal
Douglas Elliman Real Estate
/Realty.com
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