The 3Q 2008 Queens Market Overview [pdf]  that I author for Prudential Douglas Elliman [PDE]  is available for download. Due to demand, I expanded the Long Island/Queens Market Overview into two separate reports .
To review the report methodology.
…Both price indicators have declined nearly every quarter since the first quarter of 2007. Median sales price in the current quarter is $400,000, down 11.4% from the $451,250 of the prior year quarter and down 20% from the $480,000 market peak in first quarter 2007. Average sales price reached $436,575 this quarter, down 8.8% from the prior year quarter average sales price of $478,752 and down 11.2% from the $485,455 average sales price for the first quarter of 2007. The market trends by quintiles showed a wide range of price trends. The entry level or first quintile was $175,000 and showed no change in median sales price from the prior year quarter. The weakest segment was the third or middle quintile, that saw a 25.8% decline in median sales price to $335,000 from $451,250 in the same period last year…
Download report: 3Q 2008 Queens Market Overview [pdf]