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Elliman Report: Queens Sales 3Q 2014

After last month’s decline, housing prices, resumed their upward trend, rising for the seventh time in 8 consecutive months. Median sales price was $395,000, up 6.2% from the same period last year. Average sales price reflected the same trend, rising 3.7% to $462,999 over the same period. Year-to-date, both median sales price and average sales price were higher than in the same period last year. Condo price indicators were mixed, with a median sales price decline of 5.6% and an average sales price increase of 5.8%, respectively over the same period. All co-op and 1-3 family price indicators posted increases over the same period. The luxury market, defined as the top 10% of all sales, saw price gains that outpaced the overall market…

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