FOR BREAKING NEWS VISIT WWW.QNS.COM DECEMBER 28, 2017 • THE QUEENS COURIER 11
Three Queens neighborhoods make
list of NYC areas to watch in 2018
BY SUZANNE MONTEVERDI
smonteverdi@qns.com / @smont76
All eyes on the Flushing, Elmhurst and
Woodside real estate markets in the new
year, according to a recent report.
Th e three Queens locales made real
estate site StreetEasy’s roundup of the 10
New York City neighborhoods to watch
in 2018. Buyers, renters and sellers should
keep their eye out for an increased interest
and rising prices in each of these
neighborhoods.
Flushing, which has seen a huge share
of the borough’s residential developments
in recent years, took the No. 3
slot. Th e neighborhood saw a median sale
price of $737,455 and $2,000 median rent
price in 2017.
Page views for Flushing listings on the
site grew 80 percent since last year — the
highest number for any neighborhood
that made the list. Th e eastern Queens
neighborhood saw 35 new residential
projects in 2017, according to New York
City Department of Buildings data.
In Elmhurst, which sits at No. 4, yearover
year median sale price growth was
signifi cant, with a 40 percent increase to
just over $590,000. Th e median rent in
2017 was $1,913, most aff ordable of the
three Queens neighborhoods that made
the list.
Taking the last spot on the roundup
was Woodside, which recorded a 2017
median sale price of $390,000 and $2,000
median rent. Th e western Queens neighborhood
saw a 65-percent increase in
listing views year over year and eight
new residential projects, according to
city data.
Th e allure of these outer-borough
neighborhoods may lie in the “one-neighborhood
over theory,” according to
StreetEasy. Elmhurst and Woodside are
located close to the coveted neighborhoods
of Long Island City and Astoria,
but off er more aff ordable options. All
three Queens neighborhoods on the
list are also near the 7 train, off ering a
convenient transportation option into
Manhattan.
West Harlem in Manhattan and Fort
Greene in Brooklyn took the No. 1 and
2 spots on the list, respectively. Norwood
in the Bronx also made the list at No. 6.
“Neighborhoods like West Harlem,
Woodside and Prospect Park South,
which have long been outshined by
their popular neighbors, are fi nally taking
the spotlight in 2018,” StreetEasy
Senior Economist Grant Long said. “As
New Yorkers seek to balance aff ordability
with convenience, these nearby neighborhoods
are seeing a surge of interest, growing
prices and an infl ux of new development.”
Th e study was conducted on four main
factors: annual change in median sales
and rent price, listing views on StreetEasy
and the amount of new construction in
the neighborhood.
Photo via Wikimedia Commons/Raman Patel
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