{"id":21930,"date":"2016-04-29T05:56:31","date_gmt":"2016-04-29T09:56:31","guid":{"rendered":"http:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=21930"},"modified":"2024-03-14T21:15:46","modified_gmt":"2024-03-14T19:15:46","slug":"soaring-prices-in-some-of-queens-top-25-neighborhoods","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2016\/04\/29\/soaring-prices-in-some-of-queens-top-25-neighborhoods\/","title":{"rendered":"Soaring Prices in Some of Queens’ Top 25 Neighborhoods"},"content":{"rendered":"

Reflecting the residential market’s city-wide\u00a0growth in the first quarter of 2016, Queens too has registered high\u00a0transaction numbers\u00a0(a total of 2,805<\/strong>), 5% more than in the beginning of 2015 . Greater\u00a0Y-o-Y median price\u00a0increases\u00a0occurred with condo and co-op sales (8-9%), but single-family houses still sold for 5% more than they did in Q1 last year.<\/p>\n

When it comes to which neighborhoods made the top 25 most expensive list, there is only one real shocker: the absence of Forest Hills Gardens<\/strong>, the priciest neighborhood in Queens last year, which is due to the fact that less than the minimum of 4 sales needed to make it onto our list\u00a0were recorded here last quarter.<\/p>\n

At a glance, the vast majority of neighborhoods on this list were on an upward trend in home prices, and\u00a0staggering price hikes\u00a0and high transaction numbers were seen in a handful of rankings. Only 4 neighborhoods recorded\u00a0drops in median home prices and they were all rather modest (below 10%).<\/p>\n

Below\u00a0are the most noteworthy highlights<\/strong> from our priciest neighborhoods in Queens list. For the full top 25<\/strong>, make sure you scroll down to the end of the article.<\/p>\n

<\/span>#1. Malba<\/span><\/h3>\n

Median sale price: $975,000<\/p>\n

#1 on our top 25 priciest neighborhoods in Queens this last quarter, the small, upper-middle class Malba\u00a0offers larger lot sizes and square footage than the adjacent\u00a0College Point and Whitestone, especially along the waterfront. Sales here are rare and only 5 were recorded in Q1, yet the median home price has gone up a shocking 50%<\/strong> in the course of a year. A similar evolution was seen in Kissena Park, at #2 on the list, a regular among the most expensive neighborhoods in Queens.<\/a><\/p>\n

<\/span>#3. Hunters Point<\/span><\/h3>\n

Median sale price: $960,188<\/p>\n

As was seen in 2015, Hunters Point residential market, now that major new development projects are taking off across the neighborhood. A high percentage of these units will be kept affordable (as reported by Curbed<\/a>), yet for the ones at market rate, the proximity to Midtown Manhattan and the high demand outpacing new construction will likely continue to drive prices upwards. For last quarter, the Y-o-Y increase in the median home price stood at 15% across the 52 recorded transactions<\/strong>.<\/p>\n

<\/span>#4. Jamaica Estates<\/span><\/h3>\n

Median sale price: $798,500<\/p>\n

Former home to a young Donald Trump, this neighborhood has always been wealthy and suburban, so there’s no surprise that it keeps popping-up among theJamaica Estates, for a median price close to $800K, 51% more expensive\u00a0<\/strong>than in the first quarter of 2015.<\/p>\n

<\/span>#13. Douglaston<\/span><\/h3>\n

Median sale price: $642,500<\/p>\n

For those who appreciate\u00a0the suburban lifestyle, Douglaston is a great\u00a0choice for one of the least urban experiences one can get in New York City. Made up mostly of large single-family homes set against the backdrop of leafy yards and plenty of green\u00a0outdoor spaces, the neighborhood saw by far the most spectacular surge in prices<\/strong> since the first quarter in 2015,\u00a0a whopping 80%<\/strong>, and 32 closed deals.<\/p>\n

<\/span>#20. Whitestone<\/span><\/h3>\n

Median sale price: $514,000<\/p>\n

Cheaper and more readily accessible for commuters than Douglaston, Whitestone\u00a0was the Queens sales champion in Q1 2016, recording 90 transactions<\/strong>, at a median sale price that was 41% higher<\/strong> than in the first quarter of 2015. All this was in spite of the community’s push-back<\/a> against high-density new developments, meaning\u00a0the market is mostly driven by re-sale houses\u00a0in this\u00a0family-oriented suburb.<\/p>\n

Here are the stats for all 25 most expensive neighborhoods last quarter in Queens:<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
No<\/th>NEIGHBORHOOD<\/th>MEDIAN SALE PRICE<\/th>TRANSACTIONS<\/th>\u0394YoY MEDIAN PRICE<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>Malba<\/td>$975,000
\n<\/td>		5<\/td>50%
\n<\/td>\n<\/tr>\n
2<\/td>Kissena Park<\/td>$965,000
\n<\/td>		6<\/td>36%
\n<\/td>\n<\/tr>\n
3<\/td>Hunters Point<\/td>$960,188
\n<\/td>		52<\/td>15%
\n<\/td>\n<\/tr>\n
4<\/td>Jamaica Estates<\/td>$798,500
\n<\/td>		12<\/td>51%
\n<\/td>\n<\/tr>\n
5<\/td>Broadway - Flushing<\/td>$775,000
\n<\/td>		5<\/td>-5%
\n<\/td>\n<\/tr>\n
6<\/td>Hollis Hills
\n
\n<\/td>		$770,000
\n<\/td>		9<\/td>8%
\n<\/td>\n<\/tr>\n
7<\/td>Queensboro Hill
\n
\n<\/td>		$751,500
\n<\/td>		10<\/td>14%
\n<\/td>\n<\/tr>\n
8<\/td>Belle Harbor
\n
\n<\/td>		$750,000
\n<\/td>		5<\/td>2%
\n<\/td>\n<\/tr>\n
9<\/td>Ditmars - Steinway
\n
\n<\/td>		$733,497
\n<\/td>		10<\/td>-1%
\n<\/td>\n<\/tr>\n
10<\/td>Fresh Meadows
\n<\/td>		$727,500
\n<\/td>		34<\/td>9%
\n<\/td>\n<\/tr>\n
11<\/td>Auburndale
\n
\n<\/td>		$700,000
\n<\/td>		19<\/td>6%
\n<\/td>\n<\/tr>\n
12<\/td>Rockwood Park<\/td>$679,000
\n<\/td>		13<\/td>10%
\n<\/td>\n<\/tr>\n
13<\/td>Douglaston<\/td>$642,500
\n<\/td>		32<\/td>81%
\n<\/td>\n<\/tr>\n
14<\/td>Middle Village<\/td>$601,500
\n<\/td>		36<\/td>1%
\n<\/td>\n<\/tr>\n
15<\/td>Bayside<\/td>$577,500
\n<\/td>		70<\/td>-2%
\n<\/td>\n<\/tr>\n
16<\/td>Glendale<\/td>$550,000
\n<\/td>		21<\/td>7%
\n<\/td>\n<\/tr>\n
17<\/td>College Point<\/td>$546,500
\n<\/td>		20<\/td>9%
\n<\/td>\n<\/tr>\n
18<\/td>South Astoria<\/td>$535,000
\n<\/td>		31<\/td>1%
\n<\/td>\n<\/tr>\n
19<\/td>Old Howard Beach<\/td>$515,000
\n<\/td>		9<\/td>20%
\n<\/td>\n<\/tr>\n
20<\/td>Whitestone<\/td>$514,000
\n<\/td>		90<\/td>41%
\n<\/td>\n<\/tr>\n
21<\/td>Floral Park<\/td>$504,000
\n<\/td>		23<\/td>4%
\n<\/td>\n<\/tr>\n
22<\/td>Maspeth<\/td>$480,000
\n<\/td>		23<\/td>0%
\n<\/td>\n<\/tr>\n
23<\/td>Ridgewood<\/td>$472,500
\n<\/td>		4<\/td>-9%
\n<\/td>\n<\/tr>\n
24<\/td>Pomonok<\/td>$470,000
\n<\/td>		8<\/td>9%
\n<\/td>\n<\/tr>\n
25<\/td>LIC<\/td>$445,000
\n<\/td>		7<\/td>49%
\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n
\n

Methodology:<\/p>\n

The median sale prices were calculated based on residential property sales closed between January 1, 2016 and March 31, 2016. The residential properties included in the stats are single-family homes, condos and coops.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reflecting the residential market’s city-wide\u00a0growth in the first quarter of 2016, Queens too has registered high\u00a0transaction numbers\u00a0(a total of 2,805), 5% more than in the beginning of 2015 . Greater\u00a0Y-o-Y median price\u00a0increases\u00a0occurred with condo and co-op sales (8-9%), but single-family houses still sold for 5% more than they did in Q1 last year. When it…<\/p>\n","protected":false},"author":45,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[373],"tags":[],"class_list":["post-21930","post","type-post","status-publish","format-standard","hentry","category-queens-real-estate"],"yoast_head":"\nSoaring Prices in Some of Queens' Top 25 Neighborhoods - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"The 25 most expensive neighborhoods in Queens continued to get pricier last quarter, reflecting the residential market growth throughout New York City.\" \/>\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\/2016\/04\/29\/soaring-prices-in-some-of-queens-top-25-neighborhoods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soaring Prices in Some of Queens' Top 25 Neighborhoods\" \/>\n<meta property=\"og:description\" content=\"The 25 most expensive neighborhoods in Queens continued to get pricier last quarter, reflecting the residential market growth throughout New York City.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2016\/04\/29\/soaring-prices-in-some-of-queens-top-25-neighborhoods\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-29T09:56:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-14T19:15:46+00:00\" \/>\n<meta name=\"author\" content=\"Adela Muresan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adela Muresan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Soaring Prices in Some of Queens' Top 25 Neighborhoods - 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