A brief update on the Queens real estate market for February 2022.
Today I have a quick real estate market update for Queens. I’ll let you know what’s happening in the market today and how that compares to what was happening at this time last year. I’m specifically focusing on the Bayside, Flushing, Fresh Meadows, White Stone, Middle Village, Littleneck, and Douglaston areas.
At this time last year, from mid-January to mid-February of 2021, there were 136 closed transactions. During the same period this year, we’ve had 153 closed transactions. That’s a 10% increase, which is great.
As for the average sale price, it was at $988,000 at this time last year. Right now, it’s at $1.032 million. That’s approximately a 4% increase over last year. When it comes to the average days on market, homes are taking just 65 days on average to sell today versus 71 last year.
With higher prices, more closings, and quicker sales, that shows me that we’re in good shape for the rest of 2022. If you’ve thought about selling your Queens home, it’s a great time to do so.
If you have any neighborhood-specific questions for me or real estate questions in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.