QUEENS MARKET UPDATE
JULY 2025
Range Jul2024vs Jul2025
Thenumberofresidentialsales contractssignedinQueensremained stablewith77contractsinJuly2025 versus76inJuly2024.However,the mediandaysonmarketincreased notablyfrom64to82days,indicating homesaretakinglongertosell.Theper squarefootpriceforcontractssigned decreasedslightlyfrom$1,202to$1,119.
Themediansalepriceforrecordedresidentialsalesdippedslightly to$590Kfrom$609Kyear-over-year,whilethemedianpriceper squarefootrosemoderatelyfrom$548to$557.Thissignalsthatwhile overallpricessoftened,thevalueperunitofspacehasimproved slightly.
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Range Jul2024vs Jul2025
Condocontractactivityincreasedwith 38contractsinthecurrentperiodversus 33lastyear,butmediandaysonmarket rosefrom64to77days,reflecting slowersalespace.Persquarefoot pricesforcontractssignedheldsteady around$1,340.
MediancondosalepricesinQueensrosefrom$645Kto$687Kyearover-year,evenaspricepersquarefootedgeddownslightlyfrom $862to$852,suggestinglargerunitsorpremiumlocationsmayhave boostedoverallprices.
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Range Jul2024vs Jul2025
Coopcontractsigningsdecreasedfrom 33to25,whilemediandaysonmarket increasedmodestlyfrom79to86days, showingsofterdemandandslightly longermarketingtimes.Persquarefoot contractpricesrosefrom$438to$500.
Mediancoopsalepricesrosemodestlyfrom$318Kto$326K, accompaniedbyanincreaseinpricepersquarefootfrom$379to $393,indicatingmildappreciationincoopvalues.
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Range Jul2024vs Jul2025
DAYS ON MARKET
Singlefamilyhomecontractssigned rosesignificantlyfrom8to13,though daysonmarketnearlydoubledfrom42 to72days,indicatingamorecautious buyerenvironment.Thepersquarefoot contractpriceincreasedsharplyfrom $493to$796.
Singlefamilyhomemediansalepricesincreasedfrom$801Kto $855K,withpricepersquarefootalsorisingfrom$548to$591, reflectinggrowingstrengthandvaluegainsinthissegment.
NEWDEVELOPMENT
Contractssignedinnewdevelopmentsin Queensslightlyincreasedto25from24yearover-year,withdaysonmarketstable, indicatingsteadybuyerinterest.
Currentunsoldnewdevelopmentinventory standsat2,902unitsacross163buildings,with 339activelistings,reflectingabalancedbut cautiousmarketpresence.
CLOSINGS
Date Range Jul2024vs Jul2025
2,902
TotalNewUnits
2,563 UNITS
Mediansalespricesinnewdevelopmentsroseto$723Kfrom$695K, whilepricepersquarefootdecreasedto$995from$1,197, suggestinglargerordifferentunittypessoldthisperiod.
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CONDO MARKETREPORT
Date Range Jul2024vs Jul2025
Contractssignedincreasedto38from 33year-over-year,withmediandayson marketrisingto77from64,indicatinga slightcoolinginbuyerurgency.
Mediancondosalepricerosemodestlyto$687Kfrom$645K,while pricepersquarefootremainedstablearound$850.
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Date Range Jul2024vs Jul2025
Studiocontractactivityremainedflat with1contractbothyears,butmedian daysonmarketdroppedto0from31, showingquickerclosings.
Medianstudiopriceincreasedsignificantlyto$598Kfrom$450K, withpricepersquarefootjumpingto1,362from862,reflectingstrong demand.
Queens
ONE BEDROOMS
CONDOMARKET-1BEDROOMS
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Range Jul2024vs Jul2025
One-bedroomcontractssignededged upslightlyto18from17,thoughmedian daysonmarketstretchedto76from44, suggestingslowersalespace.
Medianpriceroseto$617Kfrom$555K,whilepricepersquarefoot dippedslightlyto937from952.
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TWO BEDROOMS
CONDOMARKET-2BEDROOMS
Range Jul2024vs Jul2025
Two-bedroomcontractsrosenotablyto 17from13,butmediandaysonmarket heldsteadyat92,indicatingconsistent buyerinterest.
Mediansalepriceremainedsteadynear$698Kcomparedto$706K prioryear,withpricepersquarefootstablearound790.
Queens
THREE BEDROOMS
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CONDOMARKET-3BEDROOMS Date Range Jul2024vs Jul2025
Three-bedroomcontractactivityhalved to1from2,withmediandaysonmarket unavailablethisperiodbutpreviously longat315days.
Medianpricedeclinedto$980Kfrom$1.2M,alongsideadropinprice persquarefootto764from914,pointingtosofteneddemand.
Four-bedroomcontractssigned emergedwith1thisyearafternonelast year,showingnewinterestinlarger units.
Medianpriceroseto$912Kfrom$858K,despitelimitedsalesvolume, withpricepersquarefootdecreasingto402from454.
Date Range Jul2024vs Jul2025
Co-opcontractactivityinQueens declinedto25from33year-over-year, withmediandaysonmarketincreasing modestlyto86from79,indicating slightlyslowerpaceofsales.
Medianco-opsalepricestickedupto$326Kfrom$318K,withprice persquarefootrisingto$393from$379,reflectingsteadyprice appreciationinthemarket.
Anil Jintoorkar ASSOCIATEBROKER|DouglasElliman O:516 6695615|M:516 6695615 anil.jintoorkar@elliman.com
Date Range Jul2024vs Jul2025
Studiocontractsmorethandoubledto 5from2,butmediandaysonmarket balloonedto132from54,suggesting lessurgencyamongbuyersdespite higheractivity.
Studiomediansalepricegrewto$210Kfrom$178K,whilepriceper squarefootheldsteadynear$368,signalingmodestvaluegains.
Queens
ONE BEDROOMS
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Jul2024vs Jul2025
One-bedroomcontractsdroppedto11 from18,withdaysonmarketimproving to86from103,implyingamarketwith fewerbutfastersales.
Mediansalepriceforone-bedroomsroseto$290Kfrom$280K,with pricepersquarefootincreasingto$397from$368,showingsolid pricegrowth.
Queens
TWO BEDROOMS
Jul2024vs Jul2025
Two-bedroomcontractsslippedslightly to8from9,whilemediandayson marketshortenedto72from81, indicatingaslightlyquickermarket.
Medianpricefortwo-bedroomsincreasedmodestlyto$375Kfrom $365K,withpricepersquarefootinchingupto$393from$377, maintainingsteadyappreciation.
THREE BEDROOMS
Nothree-bedroomcontractssignedin thecurrentperiodversus3previously, hintingatreducedbuyerdemandinthis segment.
Medianthree-bedroompricedeclinedto$537Kfrom$550K,with pricepersquarefootdroppingnotablyto$389from$522,reflecting softnessinlargerunitvalues.
CO-OPMARKET-4BEDROOMS
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Range Jul2024vs Jul2025
Four-bedroomcontractsremained minimalat1,butmediandaysonmarket roseto100from40,suggestingmuch slowersales.
Nocurrentperiodsalesrecordedforfour-bedroomswhileprioryear medianpricestoodat$1.25M,limitingtrendinsightsforthissegment.
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Range Jul2024vs Jul2025
Contractssignedfortownhousesin Queensincreasedslightlyto19from17 lastyear,whilethemediandayson marketrosesignificantlyfrom48to72 days,indicatingaslowermarketpace. Thepricepersquarefootforsigned contractsjumpedsharplyto$846from $509,reflectingstrongerpricingpower despitelongersellingtimes.
Medianrecordedsalepricesfortownhousesrosemodestlyto$910K from$881Kyear-over-year,withthepricepersquarefootincreasing to$559from$537,suggestingsteadypricegrowthincloseddeals despitefewersalesvolume.
QUEENS REAL ESTATE MARKET SNAPSHOT
In July 2025, the Queens real estate market presents a mixed picture across various market segments, showing fluctuations in activity and pricing
New Development
Contracts signed in new developments saw a significant decline, plunging by 54 55% However, the average price increased sharply by 17 75%, suggesting a preference for higher-value properties Despite strong pricing, new listings fell by 45 54%, indicating a potential inventory crunch
Luxury ($4M+)
The luxury market experienced a decline in contracts and recorded sales, with the dollar volume shrinking by 52 70% Average prices dropped by 17 23%, and new listings decreased by 42.86%, reflecting reduced buyer activity and a potential interest rate impact on high-end properties
Resale Condo
Resale condos showed stability with flat contract activity, but substantial improvements in recorded sales, which soared by 34.62%. The average price rose by 5%,
and dollar volumes increased by 13.26%. New listings slightly increased, suggesting a balanced market.
Resale Co-op
The resale co-op segment saw a 26 47% decline in contracts signed However, recorded sales surged by 30 84%, accompanied by a modest rise in average PPSF and price increases, hinting at improved transaction velocity despite reduced contracts
Single-Family
Single-family homes exhibited promising growth with a 20.90% increase in average prices and a 30.97% rise in dollar volumes New listings, however, halved, reflecting reduced inventory but sustained demand.
Multi-Family
Multi-family properties experienced a reduction in contracts signed and a sharp decline in new listings. Despite this, the average price edged up by 2.77%, indicating strong buyer interest amidst limited offerings
Overall, the market demonstrates resilience in pricing with varying performances across segments, indicating complex buyer behavior and shifting market dynamics