WWW.QNS.COM RIDGEWOOD TIMES AUGUST 27, 2020 29
REAL ESTATE
Queens market weathered COVID-19 crisis in fi rst half of 2020: Report
BY JACOB KAYE
JKAYE@SCHNEPSMEDIA.COM
@QNS
Compared to the rest of New York City, the Queens real estate market
navigated the COVID-19 crisis in the calmest manner, according to a new
report.
While sales activity dropped in the first half of 2020, the median sales
price, which has seen continual growth in Queens, continued to increase at
a rate higher than any borough in the city, according to a new report from
Property Shark.
The median sales price in Queens hit a high mark in April, when it reached
$630,000, a jump of 19 percent when compared to the year prior, the report
said. The borough saw the increase in price despite a 22 percent decrease
in sales activity.
However, despite the growth in median sales price, Queens experienced
the first drop in the metric in July 2020, according to the report. Last month,
the median sales price dropped by 10 percent, when compared to July 2019.
At the same time though, sales activity began to increase in July, the report
said.
With 855 sales transactions, July marked the Queens real estate market’s
most active month since the pandemic began. Overall, Queens has seen 5,992
sales in the first half of 2020, which amounts to 23 percent fewer transactions
than were recorded in the first half of 2019.
According to Property Shark, the drop in the median sales price is nothing
to worry about. At $576,500, the median sales price is more in line with
early 2020 pricing trends as opposed to the elevated prices recorded in the
second quarter of 2020.
Elsewhere in the city, Manhattan’s real estate market was hit hardest in
the first half of 2020, according to the report. Sales activity was down by 30
percent year-over-year and the median sales price dropped by 13 percent,
Property Shark said.
In the Bronx, sales activity decreased by 24 percent when compared to
the first half of 2019. While Brooklyn also saw a 24 percent drop in sales
activity, it didn’t experience an increase in July, as Queens, Manhattan and
the Bronx did, according to the report.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Forest Avenue
Listings selected at random. Courtesy MLS
Under $600,000
61-20 71st Ave., Unit D3A
$540,000
Condominium
3 bedrooms, 1 and 1 half
bathrooms
ERA/Top Service Realty Inc
$600,000-$1,000,000
63-15 Forest Ave., Unit 2J
$879,000
Condominium
3 bedrooms, 2 bathrooms
Malgorzata Zarska, Omega Realty
of Greenpoint LLC
Over $1,000,000
58-28 St. Felix Ave.
$1,089,000
Colonial
2 bedrooms, 1 and 1 half
bathrooms
Talaat Elkaray, Keller Williams
Landmark II
86th Street 53rd Avenue Penelope Avenue
Under $600,000
77-30 79th Pl.
$579,000
Semi Detached
3 bedrooms, 1 and 1 half
bathrooms
David Pastorini, Coldwell Banker
Phillips
$600,000-$1,000,000
78-16 86th St.
$929,000
Colonial
3 bedrooms, 2 and 1 half
bathrooms
Macaluso Realty
Over $1,000,000
65-13 Myrtle Ave.
$1,050,000
Single Family
5 bedrooms, 2 and 1 half
bathrooms
Miriam Vasquez, RE/MAX Team
Under $600,000
58-38 61st St.
$599,000
Colonial
3 bedrooms, 1 bathroom
Michelle O Kane, O Kane Realty
$600,000-$1,000,000
53-71 61st St.
$990,000
Ranch
2 bedrooms, 2 bathrooms
Oscar Cervone, Douglas Elliman
Real Estate
Over $1,000,000
66-12 53rd Ave.
$1,248,000
Colonial
4 bedrooms, 2 and 1 half
bathrooms
Shehriar Islam, Keller Williams
Points North
Under $600,000
65-54 79th Pl.
$595,000
Colonial
3 bedrooms, 1 bathroom
Eliot Hill Realty Inc
$600,000-$1,000,000
66-21 77th St.
$899,000
Colonial
4 bedrooms, 1 and 1 half
bathrooms
Joseph De Marco, Steps Realty
Assoc LLC
Over $1,000,000
82-46 Penelope Ave.
$1,099,000
Tudor
3 bedrooms, 2 and 1 half
bathrooms
Joseph Guidici, Century 21
Amiable Rlty Grp II
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