With a median sale price of $680,000 in 2009, Forest Hills is one of the most expensive neighborhoods in Queens. The neighborhood features more multimillion dollar sales of single family homes since 2005 than any other neighborhood in Queens . 170 single family homes in the neighborhood sold for over $1 million since 2005, peaking in 2007 with 41 homes sold above $1 million.
2009 had the highest price paid for a Forest Hills property in the past 5 years. 105 Greenway South, located in the private community of Forest Hills Gardens, closed for $3,775,000. The property was on the market for about 2 years and closed with a price chop of $4,220,000 from its initial asking price ($7,995,000). Terrace Realty brokered the sale.
The majority of multimillion dollar sales happened in the private community of Forest Hills Gardens, including the top 3 most expensive sold homes : 105 Greenway South, 20 Shorthill Road, and 147 Greenway North. However, the area northwest of the Gardens across Queens Boulevard has had intense activity in the luxury real estate market with over 40 multimillion dollar homes sold in the past 5 years (see map below).
The first month of 2010 saw 3 transactions over $1,000,000 in the area. Two of them, 49 Groton Street and 18 Summer Street, were also the two most expensive single family homes sold in all of Queens in January 2010.
The most expensive home currently on the market in Forest Hills is 95 Tennis Place, priced at $3,250,000. Halstead has the listing.
View current homes for sale in Forest Hills, Queens.
Note: for the current report we have analyzed single family homes sold for over $1 million in Queens and Forest Hills between January 2005 through January 2010.