WWW.QNS.COM RIDGEWOOD TIMES AUGUST 29, 2019 31
REAL ESTATE
Rents rising, but home prices falling fl at: report
BY EMILY DAVENPORT
EDAVENPORT@RIDGEWOODTIMES.COM
@QNS
A new report found that while
home prices are starting to
level out, rents in Queens are
continuing to rise.
StreetEasy recently released
their July market report, which
took a look at real estate trends in
Queens last month.
According to their findings,
Queens remained at the exact
same price compared to July 2018
at $508,339, making it the first
time the prices haven’t risen
since 2013.
StreetEasy attributes this to the
surplus of inventory in northeast
Queens, which caused a dip in
prices. The report also found that
the share of homes with price
cuts stayed f lat at 10.8 percent in
Queens overall, but decreased in
northwest Queens, dropping 1.9
percentage points to 11.3 percent.
File photo
“It’s typical for the number
of price cuts to dip during the
summer, when many sellers
skip town and shift their focus
away from selling their homes,”
StreetEasy Economist Nancy Wu
said. “But for motivated sellers,
now is actually the time to offer
discounts and help prospective
buyers notice your property.
With the return of home-shopping
season this fall, and a wave of
new homes coming to market,
sellers will soon have even more
competition, making additional
price cuts — possibly at record
levels — virtually inevitable.”
The report found that Queens
had the highest number of total
homes for sale in July 2019
with 3,610 homes, marking a
17.8 percent increase from last
year. Queens also saw that the
median recorded sales price
reached a record high of $585,000,
marking an 8.3 percent increase
year-over-year.
Queens rents were the fastestgrowing
in the city in July, growing
3.5 percent overall. The StreetEasy
Rent Price Index reached an alltime
high of a new high of $2,182.
Visit streeteasy.com to read the
full report.
Ridgewood Times Sales Guide
Listings selected at random. Courtesy MLS
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
70th Avenue 82nd Street 56th Avenue 79th Street
Under $600,000
61-20 71st Avenue
$545,000
Condo
1 bedroom, 2 bathrooms
Jolanta Piela
Keller Williams Landmark II
$600,000-$1,000,000
1807 Starr Street
$975,000
Colonial
3 bedrooms, 3 bathrooms
Carlos Piedrahita
House Hunt Realty Corp
Over $1,000,000
60-67 70th Avenue
$1,285,000
Two-family Townhouse
6 bedrooms, 3 bathrooms
Giovanni & Dominico Pedone
Concrete Jungle NYC Realty
Under $600,000
70-10 80th Street
$499,000
Two Story
2 bedrooms, 1 bathroom
Denise Mussillo
Exit Realty Achieve
$600,000-$1,000,000
77-18 82nd Street
$959,000
Colonial
5 bedrooms, 3 bathrooms
John Lombardi
Crifasi Real Estate
Over $1,000,000
68-28 65th Street
$1,349,000
Two-family
6 bedrooms, 3 bathrooms
Rommel Vazquez
RE/MAX Team
Under $600,000
62-19 53rd Avenue
$325,000
Co-op
2 bedrooms, 1 bathroom
Maryanna Zero
Home Hunters Real Estate
$600,000-$1,000,000
52-38 66th Street
$945,000
Contemporary
3 bedrooms, 2 bathrooms
Erika Demkowicz
Donna Demkowicz R E Corp.
Over $1,000,000
61-49 56th Avenue
$1,949,000
Two-family Duplex
8 bedrooms, 6 bathrooms
Jaroslaw Kaszuba
Exit All Seasons Realty
Under $600,000
66-59 71st Street
$499,000
Condo
2 bedrooms, 2 bathrooms
John Lombardi
Crifasi Real Estate
$600,000-$1,000,000
79-18 68th Road
$879,999
Two-family Colonial
4 bedrooms, 2 bathrooms
Segundo Agudo, Aida Asifuela
City Homes Realty Group LLC
Over $1,000,000
63-58 79th Street
$1,300,000
Two-family Colonial
4 bedrooms, 3 bathrooms
Dimitri Petrovsky
Compass Greater NY LLC
/streeteasy.com
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