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Douglas Elliman Report: Queens Sales 2Q 2011

A quarterly survey of Queens residential sales.

…Both housing price indicators were slightly above the same period a year ago, while median sales price has posted three consecutive year-overyear quarterly increases. The median sales price of a Queens residential property was $342,000 in the second quarter, up 2.1% over the same period last year, but slipped 2.3% from $350,000 in the first quarter. Average sales price showed the same increase over the same quarter last year, rising 2.1% from $382,518 to $390,589, but edging 0.7% from $387,725 in the first quarter. The median sales price for Re-Sales edged 2.5% higher over the year, as New Development slipped 3.7%, largely due to the 7.9% decline in the average square footage of properties sold in the second quarter…

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