REAL ESTATE
Rents in Queens rise as home prices flatten out: report
Sales in QueensHOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
FLUSHING JACKSON HEIGHTS JAMAICA ESTATES OZONE PARK
Under $500,000
200-04 35th Ave., Bayside
$217,500
Co-op
1 bedroom, 1 bathroom
Judy Stagnitta, Keller Williams Realty
Greater
$500,000-$900,000
45-52 170th St., Flushing
$729,000
Colonial, 1 bedroom, 2 bathrooms
Charles Chul Chang, Hae Ryung Chang,
Exit Realty Team
Over $900,000
149-51 Powells Cove Blvd., Whitestone
$2,695,000
Colonial, 4 bedrooms, 4 bathrooms
Anthony Testani, Keller Williams Rlty
Landmark
Under $500,000
21-28 35th St., Astoria
$239,000
Co-op
1 bedroom, 1 bathroom
Panagiotis Zikos, Zikos Realty Services
Inc
$500,000-$900,000
41-04 27th St., Long Island City
$788,000
Condo
1 bedroom, 1 bathroom
Li Li, B Square Realty Inc.
Over $900,000
35-45 86th St., Jackson Heights
$1,800,000
Tudor
5 bedrooms, 4 bathrooms
Nelson Leong, East Coast REALTORS Inc
Under $500,000
83-06 229th St., Queens Village
$156,000
Co-op
1 bedroom, 1 bathroom
Chimeodo Uche, ERA/Top Service Realty
Inc
$500,000-$900,000
116-29 168th St.,
$560,000
Townhouse
3 bedrooms, 2 bathrooms
Shamsun Chowdhury, Voro LLC
Over $900,000
80-92 Tryon Dr., Jamaica Estates
$1,549,000
Colonial
6 bedrooms, 3 bathrooms
Berta Yadgarova, Exit Realty First Choice
Under $500,000
155-16 86th St., Howard Beach
$195,000
Co-op
1 bedroom, 1 bathroom
Phyllis Inserillo, Howard Beach Realty Inc
$500,000-$900,000
133-32 84th St., Ozone Park
$880,000
Tudor
4 bedrooms, 3 bathrooms
Helen Yerolemou, Mega Homes Realty
Inc
Over $900,000
77-16 Kew Forest Ln., Forest Hills
$3,200,000
Colonial, 4 bedrooms, 5 bathrooms
Solomon Davydov, Leo Davidoff , Exit
Realty First Choice
BY EMILY DAVENPORT
edavenport@qns.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 fi ndings, Queens
remained at the exact same price compared
to July 2018 at $508,339, making it the fi rst
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. Th e report
also found that the share of homes with
price cuts stayed fl at at 10.8 percent in
Queens overall, but decreased in northwest
Queens, dropping 1.9 percentage
points to 11.3 percent.
“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
off er 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.”
Th e 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 fastest-growing
in the city in July, growing 3.5 percent
overall. Th e StreetEasy Rent Price
Index reached an all-time high of a new
high of $2,182.
Visit streeteasy.com to read the full
report. File photo
link
/streeteasy.com
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