Home prices up, sales down in Qns. 1

The average sale price during the third quarter for one- to three-family homes in various neighborhoods throughout Queens, compared to figures from the previous quarter and this time last year. Numbers shown are in the thousands.

Greenwich Village, Park Slope and Riverdale have nothing on Kew Gardens, Rego Park and Forest Hills.

The Real Estate Board of New York, in its third-quarter report on home sales in the city, found that the three central Queens neighborhoods, which it reports on as one area, combined for the third-most home sales in the five boroughs, with 375.

Manhattan’s Upper East Side led the way with 829 sales from July to September, with the Upper West Side not far behind with 695 purchases.

Flushing came in fourth with 320 sales and Gramercy rounded out the top five with 304 sales.

The combined area of Jackson Heights and Elmhurst saw 282 homes pass through the market, good for third in Queens.

The combination of Richmond Hill, South Ozone Park and Woodhaven recorded 270 sales.

While multiple Queens neighborhoods did well in terms of sales volume, and the average price of a one- to three-family home in the borough jumped, far fewer homes were sold in the third quarter of 2014 as opposed to the same span of time last year.

“The average price of a Queens one- to three-family home went up seven percent to $571,000,” the report said, “but sales fell year on year by 15 percent to 2,045.”

The total consideration for all residential sales in New York City during the third quarter of 2014 was $10.9 billion, down 4 percent from the third quarter of last year.

Nearly $1.5 billion came from Queens, third behind Brooklyn’s $2 billion in consideration and Manhattan’s $6.5 billion total.

While Queens was up 12 percent from last quarter, total consideration was down 12 percent from the same time last year.

Only Staten Island saw an increase from 2013, jumping nearly 22 percent.

Money made off home sales in the city as a whole are down four percent from 2013.

Those who are selling their residences in Queens were able to put a bit more money in their pockets as opposed to the rest of the city, however.

According to REBNY’s report, the average sales price of a home in Queens was $463,000, up seven percent from the third quarter of 2013.

Richmond Hill, South Ozone Park and Woodhaven home owners specifically were beneficiaries of the higher prices, as the cost of such residences increased eight percent to $422,000, compared to the third quarter of last year.

Condominium sales also increased slightly in the borough, with the average price coming in at $486,000, two percent higher than last year.


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