QUEENS MARKET UPDATE AUGUST 2025
CONDO, CO-OP AND SINGLE-FAMILY HOMES
Date Range Aug 2024 vs Aug 2025
Contracts signed for all residential segments increased slightly from last year, with a notable rise in days on market indicating a more gradual sales pace. Median price per square foot dipped slightly, suggesting some softness in pricing or buyer negotiation. Overall, activity remains steady but shows signs of a slower market compared to last year.
Recorded median sale prices decreased across most segments, with overall prices dropping from about $654K to $608K, indicating slight price softening. Price per square foot also declined marginally, especially in condos, reflecting a stabilization or modest cooling in the market.
AND RESALE CONDOS Date Range Aug 2024 vs Aug 2025
Condo contracts signed increased in volume but days on market rose from 64 to 72 days, reflecting a slightly slower sales process. Price per square foot saw a small rise, suggesting some continued buyer value chasing.
Median sale prices declined from $721K to $680K, with a notable decrease in price per square foot from about $957 to $869, indicating some softening in condo values after a strong prior year.
Date Range Aug 2024 vs Aug 2025
Co-op contract signings grew in number, but days on market doubled from 67 to 100. Price per square foot increased modestly, hinting at sustained demand for co-ops despite a longer sales process.
Median sale prices edged higher from $325K to $350K, with the price per square foot also rising slightly, reinforcing ongoing buyer interest in co-ops.
TOWNHOUSES AND DETACHED SINGLE-FAMILY HOMES
Single-family homes saw a small increase in contracts signed, but days on market extended from 59 to 77, indicating a slower closing pace. The median price per square foot remained relatively stable around $520, with slight fluctuations.
Prices for single-family homes rose marginally from $825K to $850K, with a small increase in price per square foot, suggesting steady demand for this segment despite slightly longer transaction timelines.
NEW DEVELOPMENT
Contracts signed in Queens increased slightly from 25 last year to 27 this year, while the average days on market are not provided but likely remain consistent, indicating stable demand for new developments.
Currently, Queens has 2,876 unsold properties, with 162 buildings and 252 active listings, down from 36 unsold properties last year, indicating a significant decrease in available inventory and possibly tightening market conditions.
Date Range Aug 2024 vs Aug 2025
2,876
Total New Units
2,624 UNITS
91%
The median sale price decreased from $794K last year to $728K this year, and the price per square foot dropped from about $1,220 to $1,056, reflecting a slight downward trend in resale values.
LUXURY MARKET REPORT
$4M+ PROPERTIES Date Range Aug 2024 vs Aug 2025
In Queens' luxury market, there were no contracts signed in Aug 2025, compared to one in Aug 2024, with a median days on market of 115.
The median sale price for recorded luxury sales reached $6.85M in Aug 2025, with a notable median price per square foot of $4,695.
$4M - $10M
MARKET - $4M TO $10M PROPERTIES Date Range Aug 2024 vs Aug 2025
No contracts were signed for properties in the $4M to $10M range in Aug 2025, while Aug 2024 saw one contract with the property lingering for 115 days.
For properties in the $4M to $10M segment, the median sale price was $5.43M in Aug 2025, also achieving a median price per square foot of $4,695.
- $10M+ PROPERTIES
Range Aug 2024 vs Aug 2025
There were no contracts signed in the $10M+ category during both Aug 2025 and Aug 2024.
Sales above $10M showed a significant median price of $12.5M in Aug 2025.
CONDO MARKET REPORT
Date Range Aug 2024 vs Aug 2025
In Queens, condo contracts signed increased slightly from 41 last year to 45 this year, with a median DOM rising from 33 to 40 days, indicating a steadier market with perhaps slightly longer negotiations.
Median condo prices decreased from $721.5K to $680K, and price per square foot dropped from about $956.65 to $870, suggesting softer sales prices compared to last year.
CONDO MARKET - STUDIOS Date Range Aug 2024 vs Aug 2025
Studio contracts signed rose from none last year to 6 this year, with median DOM at 43 days, signifying emerging interest in this niche segment.
Median sale price for studios jumped from $383K to $672K, and ppsf increased sharply, reflecting growing premium interest despite limited volume.
ONE BEDROOMS
CONDO MARKET - 1 BEDROOMS
1-bedroom contracts signed slightly declined from 24 to 19, with median DOM increasing from 62 to 70 days, hinting at a marginal cooling with more negotiating time.
Median sale prices edged down from $660K to $587K, while ppsf decreased from about $1,045 to $869, indicating modest price softening.
TWO BEDROOMS
CONDO MARKET - 2 BEDROOMS
2-bedroom contracts remained steady at 15, though median DOM slightly increased from 97 to 73 days, showing a relatively stable yet calmer market segment.
Median sale prices declined from $819K to $775K, and ppsf also eased slightly, pointing toward a softer price environment.
THREE BEDROOMS
CONDO MARKET - 3 BEDROOMS
Range Aug 2024 vs Aug 2025
3-bedroom contracts increased from 2 last year to 5 this year, with median DOM rising notably to 119 days, highlighting longer negotiations in this larger unit class.
Median prices fell from $907K to $660K, and the ppsf decreased, indicating reduced pricing strength for larger condos.
No 4-bedroom contracts signed last year or this year, suggesting limited activity in this size.
Median sale price was $846K, with a median ppsf of around $407, consistent with a niche but steady market segment.
PRICE / SF
CO-OP MARKET REPORT
Date Range Aug 2024 vs Aug 2025
The overall number of co-op contracts signed in Queens increased from 25 last year to 33 this year, with days on market rising from 22 to 32 days, indicating a modest uptick in activity but slightly longer selling times.
Median prices for recorded co-op sales rose from $325K to $350K, with price per square foot increasing from $375 to about $410, reflecting continued price strength over the past year.
CO-OP MARKET - STUDIOS
Date Range Aug 2024 vs Aug 2025
Studio contracts signed grew from 2 to 3, with median days on market also increasing from 39 to 53 days, suggesting a slight slowdown in studio activity.
Median sale prices edged up from $190K to $194K, and price per square foot saw a small increase, indicating stable pricing compared to last year.
ONE BEDROOMS
CO-OP MARKET - 1 BEDROOMS Date Range Aug 2024 vs Aug 2025
One-bedroom units saw an increase in signed contracts from 10 to 13, with days on market rising from 76.5 to 89.5 days, hinting at a broader market interest but slightly longer selling periods.
Median sale prices climbed from $282K to $308K, and price per square foot increased from about $359 to over $406, showing steady appreciation.
TWO BEDROOMS
CO-OP MARKET - 2 BEDROOMS Date Range Aug 2024 vs Aug 2025
Two-bedroom contracts signed went up from 10 to 14, with median days on market rising from 84.5 to 109.5 days, indicating a gradual shift toward longer selling times but higher transaction volume.
Prices increased from approximately $391K to $405K, and price per square foot jumped from around $388 to over $418, reflecting strong market demand.
THREE BEDROOMS
CO-OP MARKET - 3 BEDROOMS Date Range Aug 2024 vs Aug 2025
Three-bedroom units maintained their volume at 3 contracts, while days on market increased from 48.5 to 80 days, suggesting a slowdown in closing speed despite stable contract activity.
Median sale price rose significantly from about $440K to over $522K, with price per square foot also increasing, indicating robust price growth.
BEDROOMS
No 4-bedroom co-ops signed contracts this period, similar to last year, highlighting limited inventory or activity in larger units.
No recorded sales for 4-beds, consistent with low or nonexistent listing activity in this category.
PRICE / SF
TOWNHOUSE MARKET REPORT
TOWNHOUSE AND SINGLE-FAMILY HOMES
Date Range Aug 2024 vs Aug 2025
DAYS ON MARKET
In Queens, the townhouse market shows a decline in signed contracts this August, dropping from 16 last year to 12 this year. The median days on market have increased from 59 to 77.5, suggesting a slower pace for contracts currently. The price per square foot remains stable, with a slight decrease from a median of $552 to $503.
Sales recorded this August have seen a modest price increase, with median prices rising from $878K last year to $933K, while price per square foot is roughly steady, around $548 to $547.
QUEENS MONTHLY REAL ESTATE TRENDS
In August 2025, the Queens real estate market demonstrated varied performances across different segments, offering both challenges and opportunities for potential buyers and sellers.
Marketwide
Overall, the market experienced a slight uptick in contracts signed, increasing by 5 81% However, the average price dropped by 10 92%, and the new listings decreased by 18 45%, indicating a tightening inventory and potential pricing adjustments.
New Development
The new development sector saw an 8% increase in contracts, although the average price dropped by 11.40%. New listings were down by 6.56%, while the average price per square foot strengthened slightly by 1.75%, illustrating a mixed performance with some positive trends in pricing metrics
Luxury ($4M+)
The luxury market was vibrant, with new listings surging by 150% and the average price increasing by 46.90%. This indicates a strong demand in the high-end sector The dollar volume also experienced a notable rise, indicating robust trading activity
Resale Condo
The resale condo market showed positive momentum with contracts up by 38 46% and the average price increasing by 42 29% However, recorded sales decreased by 30%, suggesting a lag in closing times or buyer hesitation at current pricing levels
Resale Co-op
Resale co-ops experienced a 32% increase in contracts signed, while the average price rose by 8.16%. Despite this, new listings dropped by 22 92%, which might suggest a decreasing supply that could drive future price increases
Overall, the Queens real estate market presents a complex picture with potential for strategic real estate activities, depending on the segment of interest.