QUEENS MARKET OVERVIEW
CONDO, CO-OP AND SINGLE-FAMILY HOMES
Residential sales in Queens saw a 21.6% increase in contracts signed from 241 in Q2 2024 to 293 in Q2 2025. The median days on market rose to 69.5 days from 62, while price per squarefoot remained stable around $1,203.
The median sale price for residential properties in Queens rose 6.4% year-over-year, from $590K in Q2 2024 to about $628K in Q2 2025. Price per squarefoot also increased to $571 from $547.
Condo sales saw a robust growth of 22.2% in contracts signed, increasing from 126 to 154, with the median days on market extending from 51 to 64. The price per square foot saw a small dip, currently at $1,317 from $1,338.
Condo recorded sales in Queens reflect a healthy market with median prices climbing from $624,600 to $668,930, which is a 7.1% increase. The price per square foot has risen to $942 from $893.
Contracts signed for coops rose by 18.2%, from 88 to 104, while the median days on market slightly increased from 72.5 to 77 days. Price per square foot ascended to $453 from $436.
Coop sales prices are up 3.2%, with the median price moving from $324,104 to $334,422. The median price per square foot climbed from $382 to $402.
TOWNHOUSES AND DETACHED SINGLE-FAMILY HOMES
Single-family homes saw a 22.2% surge in contracts signed, up from 27 to 33, alongside an increase in median days on market from 34 to 54 days. The price per square foot has mildly increased to $617 from $593.
The market for single-family homes shows positive trends with the median sale price rising 6.2% from $770,277 to $818,370, and the price per square foot has grown from $542 to $580.
QUEENS NEW DEVELOPMENT
Total New Units
In Q2 2025, Queens saw a robust growth with 107 new development contracts signed, up significantly from 68 in Q2 2024, indicating increased market confidence and interest despite steady market conditions.
Currently, Queens has a total unsold inventory of 3,196 homes across 165 buildings, with 424 of these actively on the market, suggesting a healthy supply that could meet growing demand.
The median price of recorded sales in Q2 2025 increased to $724K from $685K in Q2 2024, with price-per-square-foot rising to $1,129, reflecting value growth in new developments
There has been a noticeable year-overyear increase in contracts signed for condos in Queens, rising from 126 to 154, although the median days on market increased from 51 to 64, suggesting longer negotiation times.
QUEENS STUDIOS
CONDO MARKET - STUDIOS
Studio contracts signed doubled from 10 to 20, with median days on market lengthening from 23 to 38, reflecting growing interest but slower transactions.
BEDROOMS
CONDO MARKET - 1 BEDROOMS
1-bed contracts held steady with a slight decrease in median days on market from 56.5 to 70, indicating stable demand.
The median price for 1-beds surged to $656,771 from $558,000, with price per square foot rising to $1,115.39, showing a substantial value increase.
CONDO MARKET - 2 BEDROOMS
2-bed contracts increased from 41 to 51, with a marginal decrease in median days on market from 68 to 65.5, reflecting healthier demand.
The median price slightly decreased to $695,000 from $710,000, but this may not fully capture market nuances given the contrasting dynamics in price per square foot.
CONDO MARKET - 3 BEDROOMS
3-bed contracts climbed from 8 to 17, albeit with a substantial increase in median days on market from 31 to 126, indicating challenges in market movement.
3-bed median prices modestly increased to $800,000 from $790,000, with minimal change in price per square foot.
No contracts signed in this period, same as last year, pointing to stagnancy in this segment.
Median prices edged down to $905,000 from $945,000, while price per square foot notably varied, suggesting price volatility.
CO-OP MARKET REPORT
In Queens, contract signings for co-ops are up, with 104 contracts versus 88 last year, but properties are taking longer to sell, with a median DOM of 77 days compared to 72.5.
Recorded sale prices show a modest increase, with the median price at $334K, up from $324K last year, and PPSF rising slightly to $402.
QUEENS STUDIOS
CO-OP MARKET - STUDIOS
Studio co-op contracts in Queens dropped from 13 last year to 8, while DOM reduced from 66 to 62.5 days.
ONE BEDROOMS
CO-OP MARKET - 1 BEDROOMS
One-bedroom co-op contracts rose to 55 from 42 last year, with DOM decreasing to 69 from 71.5 days.
Median selling prices for one-bedrooms increased to $285K from $279.75K, with the PPSF moving up to $380.
QUEENS TWO BEDROOMS
CO-OP MARKET - 2 BEDROOMS
For two-bedroom co-ops, contract signings increased to 38 from 28, though DOM extended to 96 from 81.5 days.
QUEENS THREE BEDROOMS
CO-OP MARKET - 3 BEDROOMS
Three-bedroom co-op contracts decreased to 3 from 5, improving DOM to 57 from 74 days.
There was a decline in median sales prices from $525K to $450K, while PPSF decreased to $420.
There were no contracts signed for fourbedroom co-ops, unchanged from last year.
MARKET
In Q2 2025, the townhouse market in Queens saw a rise in contracts signed, up to 62 from 47 in Q2 2024, and homes were on the market slightly longer with a median of 55.5 days compared to 40 days last year. Prices per square foot dipped slightly from $575 to $529, indicating a potential opportunity for buyers.
Recorded sales prices for townhouses in Queens in Q2 2025 show a median price increase to $889K, up from $839K in Q2 2024, with price per square foot also rising modestly from $511 to $545, reflecting a healthy demand amidst slight affordability improvements.
Anil Jintoorkar
Associate Real Estate Broker | Douglas Elliman |
O: 516 669 5615
anil jintoorkar@elliman com
QUEENS QUARTERLY REAL ESTATE TRENDS
In Queens during Q2 2025, the real estate market exhibited notable growth across various sectors, highlighting a robust trajectory in both sales and listings
Marketwide
The overall market saw a positive movement with contracts signed increasing by 11 90% The average price surged by 11.05% to $933K, and total dollar volume reached $307M, marking a striking 24 27% increase.
New Development
New developments experienced a boost in activity. Contracts signed witnessed a 3 88% rise, while the average price increased by 7.19% to $1.12M, supported by an 11 35% growth in dollar volume to $119M.
Luxury ($4M+)
Luxury transactions displayed mixed signals Contract numbers remained flat; however, there was a 42 45% rise in dollar volume reaching $323M Average price grew by 11 65%, indicating strong luxury demand despite fewer listings.
Resale Condo
The resale condo segment saw a decline in contracts by 6 00%, yet maintained a positive trajectory in average prices which rose by 13 74% to $1 09M Dollar volume also increased by 6 91%, suggesting buyers' interest in select properties
Resale Co-op
Resale co-ops gained traction with a 6 12% boost in contracts and a notable 13.51% rise in recorded sales. The average price saw a slight decline of 5 36%, indicating a competitive market with favorable transaction volumes.
Single-Family
Single-family homes saw significant interest with a 26.92% surge in contracts signed and a notable 46 35% increase in dollar volume to $40M The average price jumped 15.30% to $1.23M, highlighting strong demand.
Multi-Family
A remarkable 190 00% increase in signed contracts marked an impressive performance in multi-family homes, with dollar volume soaring by 220 09% to $39M, reinforcing the robust outlook across Queens' market landscape
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
NEW DEVELOPMENT
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Sales
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice