The 2Q 2009 Queens Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

The 2Q 2009 [data](https://millersamuel.com/data) and a series of updated [charts](https://millersamuel.com/charts/index.php?Node=1225671404FFPKy) are available.

Press coverage can be found here.

An excerpt

>…The average sales
price of a Queens property that closed during
the quarter was $396,756, down 11.5% from the
$448,397 average sales price during the same
period last year. Following the same pattern,
median sales price for the second quarter was
$362,000, down 13.8% from the $420,000
median sales price during the same period last
year. When breaking out the re-sale market from
the new development market, the trend varies
significantly. Re-sale properties reflected a 15.3%
decline in median sales price to $350,000, from
$413,400 during the same period in the prior
year. In contrast, the median sales price for new
development sales increased 19.4% to $507,447
from $424,866 in the prior year quarter. Since resale
properties accounted for 95.3% of all sales
in Queens in the quarter, the 4.7% market share
of new development sales did not provide much
upward skew to the overall price indicators. The
average square footage of a new development
was 945 square feet, compared to 1,747 square
feet for re-sale properties….

Download 2Q 2009 Queens Market Overview

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