Queens housing prices set records as declining
inventory met with a surge in sales activity and a
robust city economy. Median sales price jumped
14.1% from the prior year quarter to a new high
of $450,865. This was the fifth year-over-year
quarterly increase for this price trend indicator.
Average sales price followed the same pattern,
rising 12.8% to a new record of $522,378 and the
first time this metric had exceeded the $500,000
threshold. The luxury market, measured as the
top 10% of all sales during the quarter, had a
record high entry threshold of $925,000 and
price gains consistent with the overall market…