The real estate market in Queens registered impressive price gains in 2015 while the luxury segment in particular flourished, according to our recent market report for the borough. The median sale price in Queens reached an 8-year high at $360,000 and here we take a look at the neighborhoods that are leading the borough’s growth. They are very diverse, from waterfront communities on the Rockaway Peninsula to quiet enclaves or locations that offer luxury amenities combined with easy access to Manhattan.
10. Fresh Meadows
Median Sale Price: $670,000
Fresh Meadows recorded a high sales volume in 2015, with 223 homes sold. Buyers will mostly find single-family homes, in a variety of architectural styles, but also some apartments.
Most expensive home sold: 6717 167 Street, $1,410,000.
9. Auburndale and Hollis Hills
Median Sale Price: $682,500
Famous for being a quiet neighborhood characterized by Tudor-style architecture and mostly single-family homes, Auburndale recorded a median sale price per sqft of $477, going up 40% compared to 2010. Hollis Hills is also the type of neighborhood that attracts middle-class buyers looking for spacious, detached homes and a lot of green spaces.
Most expensive home sold in Auburndale: 40-38 191 Street, $1,485,000.
Most expensive home sold in Hollis Hills: 85-15 212 Street, $1,445,000.
8. Queensboro Hill and Belle Harbor
Median Sale Price: $700,000
Queensboro Hill and Belle Harbor share eigth position in the top most expensive Queens neighborhoods in 2015. Each of the two is appealing to buyers through their unique characteristics. While Queensboro Hill is conveniently located in the heart of Queens and near a number of green spaces, Belle Harbor sits on a strip of land bordered by water and has all the attractions of a seaside location.
Though Belle Harbor was hit hard by Hurricane Sandy, and is still recovering, the median sale price in the neighborhood went up 17% compared to 2014.
Most expensive home sold in Queensboro Hill: 130-41 59 Avenue, $1,210,000.
Most expensive home sold in Belle Harbor: 126 Beach 135 Street, $3,075,000.
Median sale price: $712,500
Another waterfront neighborhood that made its way onto 2015’s top-10 list, Neponsit is a small community consisting mainly of single-family homes. While buying a house so close to the water may come with a risk, real estate in Neponsit is still in high demand as people are drawn to the dream of living quietly in such an idyllic setting.
Most expensive home sold: 148-16 Neponsit Avenue, $1,500,000.
6. Kissena Park
Median sale price: $735,000
Taking its name from the large park located along Kissena Creek, the neighborhood is sought after by buyers thanks to its green spaces and mainly detached homes. The median sale price went up 11% Y-o-Y and 41 properties were sold in 2015.
Most expensive home sold: 143-40 Oak Avenue, $1,070,000
Median sale price: $794,500
Located in the middle of Astoria, this small Queens neighborhood has an interesting history starting with William Steinway, the famous piano maker. Inventory is rather low and only 35 homes were sold in 2015, but prices have been going up over the past few years. While in 2009, when the market hit its lowest point, the median sale price recorded was $425,000, it almost doubled in 2015, hitting $794,500.
Most expensive home sold: 20-30 42 Street, $1,150,000.
4. Hunters Point
Median sale price: $812,500
Undergoing massive redevelopments during the past years, Hunters Point is an excellent option for those looking for luxury apartments and easy access to Manhattan. Our recent market report for the neighborhood reveals a dramatic increase in median sale price per square foot, having reached $1,050 in 2015! Compared to 2005, this represents a 138% jump!
Most expensive home sold: 46-30 Center Boulevard #1001, $2,200,000.
Median sale price: $840,000
A total of 42 homes were sold in the neighborhood in 2015 and 3 of them changed owners for price tags of over $1M. Due to strict zoning restrictions, buyers will mostly find single-family homes set in a quiet and idyllic area where retail spaces are very few.
Most expensive home sold: 33-05 157 Street, $1,380,000.
Median sale price: $998,000
Home to 2015’s most expensive home sold in Queens, this waterfront neighborhood is popular for offering generous living spaces that come with large lots. The median sale price in 2015 was just shy of the $1M mark and only 15 homes were sold in this exclusive community.
Most expensive home sold: 6 Boulevard, $3,700,000.
1. Forest Hills Gardens
Median sale price: $1,250,000
Winning the title for the most expensive neighborhood in Queens, Forest Hills Gardens was the 15th most expensive neighborhood in New York City. The housing stock in the area consists mainly of Tudor-style homes that offer generous living spaces and the comfort of a private community.
Most expensive home sold: 56 Groton Street,$2,700,000.
Here’s the complete list of most expensive neighborhoods in Queens:
Top 20 Most Expensive Neighborhoods in Queens
|Neighborhood||Median Sale Price||Number of Sales|
|1||Forest Hills Gardens||$1,250,000||39
|3||Broadway - Flushing||$840,000||39
|5||Ditmars - Steinway||$794,500||30
Curious to know which neighborhoods in Brooklyn were the most expensive for buyers in 2015? Check out our article!