Thanks to a strong local economy and the law of supply and demand, the Queens housing market is on fire. The median sales price was up 8.5% year-over-year, reaching $385k, and the entry threshold into the luxury market rose 8.6% to $814,600. The condo median sales price shot to a new record high of $468k; up 12.8% from Q2 2014, Elliman's Quarterly Survey reveals. Sales in Q2 2015 were up 5.6% from the same period last year to 2,539 sales despite inventory falling 12.6% to 5,148. The marketing time also declined by 18 days, to 92 days. So, if you're hunting, run—don't walk—because prices are rising, and quickly.
Queens' Median Sales Price Reaches Record High
Continue reading this story with a free account
Log in or register
Related Topics:
Douglas Elliman, Queens
