WWW.QNS.COM RIDGEWOOD TIMES OCTOBER 28, 2021 27
REAL ESTATE
Report shows signs of growth in condo market throughout NW Queens
BY KAYLA WONG
EDITORIAL@QNS.COM
@QNS
The Long Island City condo
market has continued to show
significant signs of growth,
reaching and even surpassing
all-time highs in pricing and sales
volume achieved in 2019, according
to a new report by Modern Spaces.
The average price per square foot
of closed units reached an all-time
high of $1,424 this quarter, while
the number of units closed rose a
massive 236% compared to the same
time period last year.
The report found a 21% yearly
increase in closed prices and a 47%
quarterly increase in closed volume.
The average contract price per
square foot of units increased 8%
this quarter at $1,475, nearly reaching
the all-time high seen in 2019,
which was at $1,502.
Recent demand for the new luxury
development projects in Long Island
City has accelerated despite a slowdown
in 2020 amid the COVID-19
pandemic. The report predicts this
trend will continue through the rest
of the year and into 2022.
The Astoria condo market nearly
reached an all-time high in the price
of closed units this quarter, with
the average price per square foot
increasing quarterly by 5%.
The condo market also experienced
a significant uptick in the volume
of closed units, with an increase
of 200% compared to the same time
period in 2020.
This quarter’s closed price saw a
12% increase from last quarter, while
the closed price per foot had a yearly
increase of 7%.
The average price of units in
contract was up 29% year over year,
while the average price of units on
the market rose 4% since the last
quarter of this year. In all, the in
contract price per square foot had
a 1% yearly decrease.
Much like the LIC market, the
Astoria condo market has continued
to attract tenants to new developments
projects in the area.
The Flushing condo market also
saw a rise in the volume of closed
units during the second quarter of
this year, with a 60% increase from
last quarter. The average price of
closed units in Flushing rose 13%
year over year.
The volume of units in contract
rose 62% compared to last quarter,
although the average market price
per square foot of units in contract
was down 9% quarterly and 7% yearly.
Much like the LIC and Astoria
condo markets, the Flushing market
is continuing its trend upwards in
2021.
Read more on QNS.com.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Decatur Street
Listings selected at random. Courtesy MLS
Under $600,000
1678 Norman St., Unit 2C
$569,000
Condo
2 bedroom, 1 bathroom
Victoria Bongiovo, Compass
$600,000-$1,000,000
1625 Decatur St.
$829,000
Single-family
2 bedrooms, 1 bathroom
Daniel Barcelowsky, Evergreen
Realty & Investments
Over $1,000,000
6520 68th Ave.
$1,200,000
Multi-family
5 bedrooms, 2 bathrooms
Robert G. Kueber, Coldwell Banker
Kueber Realty
75th Avenue 74th Street Juniper Valley Road
Under $600,000
90-50 Union Tpke., Unit 4D
$325,000
High-rise
2 bedroom, 1 bathroom
Bartosz Olszewski and Michal
Marek, Bart R E Partners Inc.
$600,000-$1,000,000
8911 75th Ave.
$697,000
Single-family
2 bedrooms, 1 bathroom
Carmen Ciurea, Coldwell Banker
Kueber Realty
Over $1,000,000
71-19 Cooper Ave.
$1,299,999
Multi-family
5 bedrooms, 3 bathrooms
Donna M. Demkowicz, Donna
Demkowicz R E Corp
Under $600,000
64-49 Perry Ave., Unit 8
$299,000
Condo
-- bedroom, 1 bathroom
Anna Pinto, Anna Pinto Realty
$600,000-$1,000,000
59-56 69th Lane
$779,000
Single-family
2 bedrooms, 1 bathroom
Monica R. Stachura and Joseph J.
Guido, O Kane Realty
Over $1,000,000
6002 74th St.
$1,150,000
Single-family
3 bedrooms, 2 bathrooms
Andrew LaSala, Crifasi Real
Estate
Under $600,000
61-88 Dry Harbor Road, Unit 2F
$238,000
Studio
0 bedrooms, 1 bathroom
Louis Pastorini, Coldwell Banker
Phillips
$600,000-$1,000,000
7813 68th Ave.
$848,000
Multi-family
5 bedrooms, 2 bathrooms
Xiao Zheng, Jamie & Connie Real
Estate Grp
Over $1,000,000
7016 Juniper Valley Road
$1,199,888
Multi-family
4 bedrooms, 3 bathrooms
Louis Pastorin, Coldwell Banker
Phillips
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