{"id":17826,"date":"2015-11-10T08:31:02","date_gmt":"2015-11-10T12:31:02","guid":{"rendered":"http:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=17826"},"modified":"2017-10-06T04:18:05","modified_gmt":"2017-10-06T08:18:05","slug":"queens-sees-all-time-high-in-luxury-sales","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2015\/11\/10\/queens-sees-all-time-high-in-luxury-sales\/","title":{"rendered":"Queens Sees All-Time-High in Luxury Sales"},"content":{"rendered":"

Manhattan – Brooklyn – Queens. The search for affordability has been forcing many NYC home buyers to follow\u00a0this path in order to find a home. As\u00a0prices are sky rocketing in Manhattan and more than half of Brooklyn, Queens is now stepping into the limelight as the most desirable borough where one can still\u00a0find an affordable home.<\/p>\n

And, indeed, with\u00a0a\u00a0median home price in Queens of\u00a0$362,000<\/strong>, as compared to $585,000 in Brooklyn*, more and more middle class home buyers are starting to take an\u00a0interest in several\u00a0of\u00a0Queens’ neighborhoods. This is despite the fact that\u00a0even the real estate market in Queens<\/a> is seeing prices\u00a0go up this year, with the median home price being\u00a0back to the value\u00a0registered\u00a0in 2007:<\/p>\n

\"median<\/a><\/p>\n

<\/span>*For calculating the median home sale price, only the transactions closed in the first 10 months of each year were taken into account.<\/span><\/h5>\n

<\/span>Queens is attracting more luxury buyers<\/span><\/h3>\n

But it seems that Queens is attracting not only buyers\u00a0interested in housing affordability, but luxury home buyers as well. In fact, in the first 10 months of this year the number of luxury transactions<\/strong> — homes with price tags over $1 million — reached\u00a0287, a record-high number*<\/strong>.<\/p>\n

\"Luxury-sales-in-Queens\"<\/a><\/p>\n

 <\/p>\n

<\/span>*For calculating the number of luxury sales, only the transactions closed in the first 10 months of each year were taken into account.<\/span><\/h5>\n

The biggest number of luxury sales was\u00a0registered in Hunters Point, where 48 properties with prices starting at $1 million traded hands since the beginning of this year. Hunters Point has been under a lot of attention lately as it’s the Queens neighborhood which registered the most impressive jump in median home sale price<\/a>\u00a0over the last\u00a010 years:\u00a0from $399 to a staggering $924, a 132% increase.<\/p>\n

Other areas which have attracted more luxury home buyers\u00a0were:\u00a0Forest Hills (33 luxury home sales), Forest Hills Gardens (22 luxury home sales), Bayside (19 luxury home sales), and Whitestone (16 luxury home sales). Most of the buyers, according to an\u00a0article in the New York Daily News<\/a>, come from China, Greece, Brazil, India or even Tibet and Nepal.<\/p>\n

<\/span>$1 million and over properties in Queens<\/span><\/h3>\n

Eye candy or not? Our sister company, Point2 Homes<\/a>\u00a0has helped us select a few luxury properties that are currently listed in Queens:<\/p>\n

<\/span>7106 Ingram St Forest Hills NY, Queens\u00a0<\/a><\/span><\/h4>\n

Asking price: $3,100,000<\/p>\n

Neighborhood: Forest Hills<\/p>\n

Square footage: 4,406<\/p>\n

Year built: 1925<\/p>\n

\"7106<\/a><\/p>\n

 <\/p>\n

<\/span>15421 10 Ave, Queens<\/a><\/span><\/h4>\n

Asking price: $1,750,000<\/p>\n

Neighborhood:\u00a0Whitestone<\/p>\n

Square footage: 3,982<\/p>\n

Year built:\u00a02010<\/p>\n

\"15421<\/a><\/p>\n

<\/span>\u00a063-20 Cromwell Cres, Rego Park, Queens<\/a><\/span><\/h4>\n

Asking price: $1,368,000<\/p>\n

Neighborhood:\u00a0Rego Park<\/p>\n

Square footage: 2,258<\/p>\n

Year built:\u00a01950<\/p>\n

\"63-20<\/a><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Manhattan – Brooklyn – Queens. The search for affordability has been forcing many NYC home buyers to follow\u00a0this path in order to find a home. As\u00a0prices are sky rocketing in Manhattan and more than half of Brooklyn, Queens is now stepping into the limelight as the most desirable borough where one can still\u00a0find an affordable…<\/p>\n","protected":false},"author":30,"featured_media":17844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[373],"tags":[785],"class_list":["post-17826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-queens-real-estate","tag-luxury-homes-in-queens"],"yoast_head":"\nQueens Sees All-Time-High in Luxury Sales - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"In the first 10 months of this year the number of luxury sales in Queens -- homes with price tags over $1 million -- was 287, a record-high number.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2015\/11\/10\/queens-sees-all-time-high-in-luxury-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Queens Sees All-Time-High in Luxury Sales\" \/>\n<meta property=\"og:description\" content=\"In the first 10 months of this year the number of luxury sales in Queens -- homes with price tags over $1 million -- was 287, a record-high number.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2015\/11\/10\/queens-sees-all-time-high-in-luxury-sales\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-10T12:31:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-10-06T08:18:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2015\/11\/queens-luxury-home-5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"641\" \/>\n\t<meta property=\"og:image:height\" content=\"395\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Roxana Baiceanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Roxana Baiceanu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Queens Sees All-Time-High in Luxury Sales - 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