Market Report: Queens Prices Reach New Highs Despite Slowdown in Manhattan and Brooklyn


TRENDS & DATA

Queens Prices Reach New Highs Despite Slowdown in Manhattan and Brooklyn

 By Emily McDonald · Sep. 26, 2018

Queens Prices Reach New Highs Despite Slowdown in Manhattan and Brooklyn

Image of queens home prices
Home prices in Queens rose 7.1 percent since last year, reaching a new high of $536,028, according to the August 2018 StreetEasy Market Reports[i]. Home prices in Queens are now 23 percent higher than they were in 2013, driven largely by the overwhelming demand for affordable homes across the city.
Despite the fast pace of price growth, Queens remains relatively affordable compared to Manhattan and Brooklyn where prices were stagnant at $1,154,908 and $726,874, respectively. Queens also had the highest share of price cuts in the city at ten percent, up 3.4 percentage points over last year. Queens homes moved off the market quickly, selling after a median of 62 days, more than a month faster than the 99 days homes spent on the market in Manhattan... Clique link above to read full report...

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