28 NOVEMBER 25, 2021 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Homebuying activity remains strong in Queens: Report
BY KAYLA WONG
EDITORIAL@QNS.COM
@QNS
Homebuying activity remains strong in
Queens, according to OneKey MLS’ new
market report.
The report shows a year-over-year increase in
both sold property median price and sold property
counts overall.
“I think we are on track to have a record-breaking
year in terms of the number of sales, the median
prices and the pending overall gross volume for
the calendar year, which is always a good thing for
the market,” said Jim Speer, CEO of OneKey MLS.
The overall gross volume — the number of sold
prices times the median sales — has signifi cantly
impacted the economy since the onset of the COVID
19 pandemic. As more money comes in through
the gross sales volume, the economy gets a boost.
“A lot of money has been pumped into the
economy through home sales,” Speer said. “Once
we got past the fi rst six months of the pandemic
and people could buy homes again, while the rest
of the economy was really slowed down, the real
estate market kept the economy chugging along
with all the sales that were going on.”
Last month was a high point as far as the sold
price goes, going down from $700,00 to $685,000
this month. The pending median price is also down
slightly from last month, from $670,000 to $662,500.
Those numbers have seen slight fl uctuations
during the past year, going up slightly one month
and going back down again.
“We’re not seeing a true trend as far as something
ticking slowly down or ticking slowly up,
but it’s kind of bouncing, staying in the same area
without heading in one direction versus the other,”
Speer said. “I think it has to do with the great buyer
demand, as well as what comes on the market and
what people are selling. It might be a little bit on
the lower end one month and then on the higher
end another month.”
Typically, when the buyer demand is high, prices
will start out going up, level off and trickle down
and fl uctuate a bit, which can be seen in the report.
Speer attributes the high buyer demand to the
low interest rates.
“As long as those interest rates stay low, the
buyer demand is going to keep going,” he said.
Although the market has been hot and on the
rise, Speer said they don’t predict a “bubble burst”
in the market any time soon.
“I don’t really read about any experts who say
that is going to happen,” he said. “Currently, there
is a lot of equity in homes and buyer demand is
high, both of which will keep the market going
for quite a while, even though the moratorium on
foreclosures is ending soon.”
Overall, Speer said that based on the report,
they would expect the market to stay strong in
the coming year. Even if the interest rates go up
a bit, there are no projections that show rates going
up considerably, which shouldn’t put a drag
on homebuyers.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
60th Lane
Listings selected at random. Courtesy MLS
Under $600,000
2118 Greene Ave., Unit D1
$548,888
Condo
1 bedroom, 1 bathroom
Claudia Looi, Keller Williams
Realty Landmark II
$600,000-$1,000,000
75-08 60th Ln.
$879,000
Multi-family
5 bedrooms, 2 bathrooms
Thomas Tarantola, Coldwell
Banker American Homes
Over $1,000,000
1914 Putnam Ave.
$1,100,000
Multi-family
5 bedrooms, 2 bathrooms
Samantha Huang, Century Homes
Realty Group LLC
88th Street 64th Street 80th Street
Under $600,000
8080 Cypress Ave.
$590,000
Single-family
2 bedrooms, 1 bathroom
Rosa Collado, Keller Williams
Realty Landmark II
$600,000-$1,000,000
8103 88th St.
$920,000
Single-family
4 bedrooms, 1 bathroom
Marek Sobolewski, Trademarko
Realty Inc.
Over $1,000,000
90-23 83rd Ave.
$1,099,000
Multi-family
5 bedrooms, 3 bathrooms
Dominico Pedone, Concrete Jungle
NYC Realty and Management Corp.
Under $600,000
70-09 45th Ave., Unit 7C
$590,000
Condo
2 bedrooms, 2 bathrooms
Sum Tsang Cheng, Star Realty
International LLC
$600,000-$1,000,000
53-31 64th St.
$788,000
Single-family
3 bedrooms, 2 bathrooms
Etan Hakimi, Mitra Hakimi Realty
Group LLC
Over $1,000,000
70-19 60th Ave.
$1,099,000
Multi-family
2 bedrooms, 3 bathrooms
Christopher Tscherne and Adeline
Biondo, Tscherne Realty Inc.
Under $600,000
86-16 60th Ave.
$219,000
Cooperative
1 bedroom, 1 bathroom
Ione Costa, Mariana Realty Corp.
$600,000-$1,000,000
6542 80th St.
$749,000
Single-family
2 bedrooms, 2 bathrooms
Nicholas Zestanakis, Keller Williams
Realty Landmark
Over $1,000,000
84-28 63rd Ave.
$1,380,000
Multi-family
3 bedrooms, 3 bathrooms
Patrick Truong, Gavco Realty
Group Inc.
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