Queens Real Estate | 2 minute read
Median Home Sale Price in Astoria Climbs to All-Time-High
BY Andra Rus | Jan 11, 2016
Astoria Residential Market Highlights in 2015
- Median Home Sale Price in Astoria Overall: $551,500 (+17% Y-o-Y).
- The number of sales is at its second highest level since the market fell (267 transactions).
- Ditmars-Steinway was the 5th most expensive neighborhood in Queens by median sale price ($794,500, up 20% Y-o-Y).
- Most expensive home sold: $3M for a single-family house at 3110 28 Road.
- Most expensive apartment sold: $960,000 for unit 3E at the East River Tower.
Astoria includes three neighborhoods as shown on this map: Astoria Heights- Upper Ditmars, Ditmars-Steinway and South Astoria.
Here’s what happened to the median sale price and the sales volume over all Astoria since 2005:
Ditmars-Steinway is the 5th most expensive neighborhood in Queens
The median sale price recorded in 2015 was an all-time high for Astoria overall, up 38% compared to the 2008 level. The median home prices of Ditmars-Steinway and Astoria Heights-Upper Ditmar both recorded Y-o-Y increases of +20%, but they still maintained a huge difference, registering $794,500 and $360,000 respectively.
The median sale price for the borough was $360,000 and it reached an 8-year high. Check out the 2015 market stats for Queens in our report.
Most Expensive Properties Sold
All 5 of the most expensive Astoria properties sold in 2015 were single-family homes and the highest amount ($3M) was paid for 3110 28 Road in South Astoria (lot size of over 10,000 sqft.) The house was purchased as an investment property since recent activity shows that a permit has been filed on November 13, 2015 for a new multi-family dwelling with a total of 18 living units.
The most expensive condo sold was unit 3E at the East River Tower ($960,000), closely followed by unit 5E at The Livelle ($930,000), two of Astoria’s new condo developments.
Top 5 Most Expensive Home Sales in Astoria
| # | Address | Sale Price | Sale Date |
|---|---|---|---|
| 1 | 3110 28 Road | $3,000,000 | March 20, 2015 |
| 2 | 3048 Crescent Street | $2,200,000 | August 5, 2015 |
| 3 | 2539 41 Street | $1,700,000 | January 30, 2015 |
| 4 | 2030 42 Street | $1,150,000 | February 5, 2015 |
| 5 | 2301 23 Avenue | $1,017,500 | April 21, 2015 |
Interested in checking what’s currently available on the market? Check homes for sale in Astoria on real estate listings website Point2Homes.
Methodology:
* Data is based only on sold residential properties between January 1, 2005 and December 15, 2015
* The building classes counted are single & two family homes, condo and coop units
* The final number of properties sold in 2015 was adjusted.
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POSTED IN: Queens Real Estate
With 10+ years of experience at PropertyShark, Andra covers the latest product updates and market reports for our blog. Her work has been featured in The Real Deal, Curbed, TimeOut, The Daily Mail, Business Insider, Crain’s New York.
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