Q2 2020 MARKET UPDATE QUEENS
OVERVIEW Marketwide Sales OVERALL Sales by Apartment size data by apartment size for condos and co-ops Methodology
3 4 5 6 9
triplemint.com i Q2 2020 i QUEENS i 2
Q2 2020 market update
what’s inside
45
Overview
148
Median LISTED Price
Number of New Listings
$1,192
1,033
Queens continues to show signs of a strong and resilient market with Q2 increases in average price per square foot and listing price, and only moderate decreases in number of sales and total inventory. Read on for a look at Q2 price points, contracts, and inventory across Queens based on home size and type.
Average price per square foot
triplemint.com i Q2 2020 i QUEENS i 3
117
$754,806
Listings with Price Drops
SALES
Contracts signed
72
MARKET AT A GLANCE Q2 2020
Total Inventory
triplemint.com i Q2 2020 i QUEENS i 4
MARKETWIDE SALES
Q2 2020 VS Q2 2019
Q2 2019
Q2 2020
% Change
Average Price per Sq. Ft.
$1,035
15 %
Contracts Signed
322
-78 %
Median Listed Price
$692,615
9 %
$731,396
3 %
436
-66 %
361
-59 %
227
-80 %
136
-67 %
Sales
141
-17 %
220
-47%
1,194
-13 %
1,432
-28 %
Q2 2020 VS Q1 2020
Q1 2020
$1,169
2 %
238
-70 %
OVERALL SALES by apartment size
triplemint.com i Q2 2020 i QUEENS i 5
Studio
ALCOVE Studio
1 BR
Average Price per Sq. FT.
$1,434
$959
$1,158
5
1
26
$666,562
$372,757
$714,272
4
64
61
12
3
41
19
22
14
8
0
16
17
2
51
40
7
9
69
396
408
95
177
128
2 BR
3 BR
4+ BR
Single Family
MULTI FAMILY
$1,111
$1,141
$885
$594
$540
35
21
6
$932,101
$1,188,740
$1,035,144
$742,882
$1,091,639
$1,750
ALCOVE
$628
QUEENS data by apartment size for condos and co-ops
30
SINGLE FAMILY
$1,310
$1,250
STUDIO
$1,320
$1,557
Co-op
$250
$500
$933
Condo
Overall
$1,207
$1,500
$560
15
20
$681
$1,188
$1,000
$750
AVERAGE PRICE PER SQ. FT.
$483
triplemint.com i Q2 2020 i QUEENS i 6
CONTRACTS SIGNED
10
$760,000
$547
18
42
100
24
200
31
181
triplemint.com i Q2 2020 i QUEENS i 7
237
50
188
300
TOTAL INVENTORY
54
46
216
400
$484,665
$250,000
$500,000
$1,750,000
$1,161,500
$363,257
$1,307,611
$2,000,000
$349,733
$853,183
$1,000,000
$254,916
$726,649
$565,852
$1,250,000
$426,300
$1,876,849
$750,000
triplemint.com i Q2 2020 i QUEENS i 8
MEDIAN LISTED PRICE
$941,453
triplemint.com i Q2 2020 i QUEENS i 9
Average Price per Square Foot: The average price divided by the average square footage. Contracts Signed: Publicly reported transactions that occurred during the quarter referenced in the report. Listings with Price Drops: Listings whose prices were decreased during the quarter referenced in the report. Median Listed Price: The middle price point when the prices of all inventory are ordered from least to most expensive. Number of New Listings: The number of homes that were listed on the market during the quarter referenced in the report. Quarters: Four three month periods that take place from January - December: Q1: January - March Q2: April - June Q3: July - September Q4: October - December Sales: Homes that sold during the quarter referenced in the report. Total Inventory: All of the listings active during the quarter referenced in the report. Sources: Figures in this report are based on publicly reported data from Automated City Register Information System (ACRIS) as well as proprietary data.
Q1 2020 market update
METHODOLOGY
THE NEW STANDARD OF REAL ESTATE triplemint.com hello@triplemint.com 212.235.1123 220 West 42nd Street, 22nd Floor New York, NY 10036
Copyright ©2020 Triplemint. Equal Housing Opportunity. All material presented herein is intended for informational purposes only. The sources are deemed to be reliable and the information is believed to be accurate, however the material is subject to errors, omissions, changes, or withdrawal without notice. All measurements and square footage are approximations. No statement is made as to the accuracy of any description.