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Elliman Report: Queens Sales 3Q 2016

The Queens housing market set a number of new price records, as the region benefited from the spillover of demand from Brooklyn. Median sales price set a new record, rising 10.7% to $499,000 from the same period a year ago. Average sales price followed the same pattern, rising 7.6% to a record $561,966. There were 3,750 sales during the quarter, up 3% of the same period last year to the highest third quarter sales total in 9 years. With heavy sales volume, listing inventory continued to slide. There were 4,291 listings on the market at the end of the quarter, 18.3% less than the same period a year ago…

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