QUEENS MARKET UPDATE
SEPTEMBER 2025
Queens MARKET OVERVIEW
CONDO, CO-OP AND SINGLE-FAMILY HOMES
Overall, contract signings decreased from 71 to 63, with median days on market rising from 91 to 128 days, suggesting reduced activity but longer selling times. Price per square foot also declined from approximately $1,161 to $1,620, indicating softer pricing trends compared to last year.
Median recorded prices dipped from $652K to $590K, reflecting a softening in sales prices, with per square foot prices increasing slightly, from about $562 to over $571, indicating some upward pricing pressure amid fewer sales.
Date Range Sep 2024 vs Sep 2025
Contract signings slightly increased from 36 to 39, though median days on market rose from 82 to 100 days, showing a steadier but slightly slower market. Price per square foot went up from around $1,244 to $1,653, highlighting increased value in recent contracts.
Median condo sales price grew modestly from $635K to $660K, and price per square foot increased from roughly $833 to $839, signaling stable or slightly rising condo values thus far.
Range Sep 2024 vs Sep 2025
Records show a decrease in signed contracts from 23 to 16, with days on market increasing from 110 to 160 days, suggesting a slower market for coops. Price per square foot went up from about $409 to $473, indicating rising value despite fewer contracts.
Median sale prices decreased slightly from $328K to $321K, though price per square foot increased from approximately $384 to $401, showing resilience in coop values even amid lower transaction volume.
SINGLE-FAMILY
TOWNHOUSES AND DETACHED SINGLE-FAMILY HOMES Date Range Sep 2024 vs Sep 2025
DAYS ON MARKET
Contract signings dropped from 11 to 7, with days on market increasing from 72 to 102 days, pointing to a slower pace for single-family homes. Price per square foot rose from about $459 to $575, suggesting increased value despite reduced activity.
Median sale prices rose from $806K to $875K, with price per square foot jumping from roughly $566 to $600, indicating strong appreciation in single-family home values over the year.
NEW DEVELOPMENT
New development contracts signed declined from 21 last year to 13 this year, indicating softening interest and possibly a slowdown in new projects' commitment. The median days on market for these contracts is not provided, but the drop in contracts suggests a more cautious buyer environment.
Unsold inventory remains stable with 2,832 units currently on the market, but active listings are limited to 218 units across 163 buildings, suggesting a relatively tight supply despite overall high unsold counts compared to prior years.
218
2,832
Total New Units
2,614 UNITS
92% of new inventory is unlisted
Median sales prices increased from $705K last year to $791K this year, while price per square foot decreased slightly from approx. $1,078 to $1,040, reflecting higher prices but somewhat lower value per unit area.
CONDO MARKET REPORT
Date Range Sep 2024 vs Sep 2025
In Queens, condo contract signings slightly increased from 36 to 39, with a marginal rise in median days on market from 82 to 100 days, indicating a modest shift in buyer activity and market pace. Recorded sales prices showed a solid gain, with median prices rising from $635K to $660K and consistent price per square foot (~$833), suggesting continued appreciation in condo values.
CLOSINGS
Overall condo prices in Queens increased slightly year-over-year, with median prices reaching $660K from $635K, while price per square foot remained steady, pointing to stable or slightly appreciating property values.
CONDO MARKET - STUDIOS Date Range Sep 2024 vs Sep 2025
Studio contracts signed remained steady at 3, but the median days on market increased from 131.5 to 200 days, indicating a slowdown in studio transaction speed. Recorded sales price for studios surged from $450K to $625K, with a significant rise in price per square foot, reflecting increased buyer willingness to pay higher prices for smaller units.
The median sales price for studios increased notably from $450K to $625K, and the price per square foot rose sharply, signifying strong value appreciation despite longer time on the market.
ONE BEDROOMS
CONDO MARKET - 1 BEDROOMS
One-bedroom units saw a slight increase in contract signing from 18 to 21, with the median days on market remaining at 100 days, suggesting steady demand and market duration. Recorded prices held steady, with median prices around $542K, and a small dip in price per square foot, indicating stable market conditions.
Median prices for 1-bedroom condos stayed relatively flat at about $542K, with minor variation in price per square foot, reflecting consistent value levels year-over-year.
TWO BEDROOMS
CONDO MARKET - 2 BEDROOMS
Two-bedroom contracts increased from 13 to 14 and median days on market rose from 71 to 84 days, implying steady interest with slightly longer transaction times. Prices improved, with median sales price rising from $680K to $705K, and price per square foot increasing from 722 to 806, denoting market strength.
Median sales prices for 2-bed condos increased to $705K, with the price per square foot growing noticeably, indicating active appreciation for larger units in Queens.
THREE BEDROOMS
CONDO MARKET - 3 BEDROOMS
The 3-bedroom category saw a drop from 2 to 1 contract signed this period, while days on market data was unavailable for the current period, possibly reflecting reduced transaction activity for larger units. Recorded sale prices significantly declined from $2.25M to $889K, with a drop in price per square foot, highlighting market cooling or price adjustments for larger homes.
The median sales price for 3-bed units decreased sharply from $2.25M to $889K, and the lower price per square foot suggests a correction or wider market adjustment for larger properties in Queens.
New York City
CO-OP MARKET REPORT
Date Range Sep 2024 vs Sep 2025
Contracts signed for co-ops increased slightly from 470 to 500, with a median DOM of 107 days, indicating a steady market with modestly quicker closings compared to the prior year. Recorded sale prices rose from $563K to $600K, reflecting increased buyer demand and price appreciation.
Average prices for recorded co-op sales climbed modestly from $563K to $600K, while price per square foot saw a slight increase, supporting the trend of rising values in this segment.
New York City
CO-OP MARKET - STUDIOS Date Range Sep 2024 vs Sep 2025
Studio contracts signed increased from 63 to 79, with a median DOM dropping from 104 to 86 days, suggesting a more active and faster-moving studio market this year. Recorded sale prices moved up from $380K to $395K, although price per square foot declined slightly.
Prices for studio sales increased marginally to a median of $395K, but the price per square foot experienced a slight decrease, which may indicate some stabilization or value compression in this segment.
New York City
ONE BEDROOMS
CO-OP MARKET - 1 BEDROOMS Date Range Sep 2024 vs Sep 2025
One-bedroom contracts signed remained stable at around 195, with DOM improving slightly from 95 to 102 days, signaling consistent demand and quicker transactions. Recorded prices increased from $535K to $550K, showing robust price growth.
Median prices for 1-bed units rose from $535K to $550K, confirming continued appreciation, although the slight dip in price per square foot from 653 to 607 suggests some value stabilization.
New York City
TWO BEDROOMS
CO-OP MARKET - 2 BEDROOMS
Date Range Sep 2024 vs Sep 2025
Two-bedroom contracts signed held steady at 145, with DOM increasing from 99 to 112 days, indicating a slight slowdown but still strong demand. Sale prices jumped notably from $705K to $939K, reflecting a pickup in the highend market segment.
Median prices for 2-bed units increased significantly from $705K to nearly $939K, with no change in price per square foot, demonstrating strong value growth at the higher end of the market.
New York City
THREE BEDROOMS
CO-OP MARKET - 3 BEDROOMS
Three-bedroom contracts increased from 49 to 64, with DOM decreasing from 129 to 115 days, signifying a more active market. Record sale prices increased from $1.725M to $1.815M, with a slight decline in price per square foot, indicating steady value appreciation.
Prices for 3-bedroom units rose by about $90K to $1.815M, with a modest dip in price per square foot, suggesting continued value growth with some stabilization.
New York City
FOUR+ BEDROOMS
CO-OP MARKET - 4 BEDROOMS Date Range Sep 2024 vs Sep 2025
DAYS ON MARKET
Four-bedroom contracts signed rose from 16 to 19, with DOM decreasing from 134 to 123 days, pointing to increasing market activity. Recorded sale prices increased from $3.415M to $4.05M, reflecting high-end market strength.
Median sale prices for 4-bed units grew by about $635K, with an increase in price per square foot, underscoring strong demand in luxury segments.
New York City
TOWNHOUSE MARKET REPORT
Contract signings for the overall residential market decreased by approximately 19% from 105 to 85 compared to the prior year, with the median days on market increasing from 78 to 82 days. The typical time to sell has slightly lengthened, indicating a modest slowdown in buyer activity.
Median recorded prices rose by about 3% from $929K to $960K, while price per square foot dipped from $516 to $532, suggesting that while prices are still climbing, the market is experiencing a slight softening in value growth.
QUEENS REAL ESTATE MONTHLY UPDATE
Market Overview
In September 2025, the Queens real estate market showed dynamic shifts across different segments, reflecting nuanced demand and supply conditions. The overall market observed a decrease in contracts signed by 24.18%, yet new listings increased modestly by 4 50% Average property prices saw significant hikes, boosting by 23.85% to $1.07M.
New Development
The new development segment experienced a sharp contraction in contracts, dropping 51 85%, while the average price soared by 23.75% to $1.35M. Despite this, there was a notable reduction in dollar volume and new listings
Luxury
The luxury market, characterized by properties over $4M, exhibited a marked downturn with a 60 00% decrease in new listings. However, the average price saw a slight increase of 0 13%, achieving $7 79M, highlighting sustained interest in luxury despite the reduced activity.
Resale Condo
O: 516 669 5615 | M: 516 669 5615 anil.jintoorkar@elliman.com
Resale condos rebounded with contracts signed rising dramatically by 44.44%. Although the average price slightly decreased by 4 70% to $1 1M, this segment demonstrated resilience, indicative of a recovering demand trend, especially in recorded sales which increased by 51 02%
Resale Co-op
In resale co-ops, contracts declined significantly by 51 52%, yet the average price rose by 8 99%, stabilizing at $499K. New listings rose substantially, hinting at increased seller activity in response to shifting market conditions
Single-Family
Single-family homes saw a slight dip in contracts by 30 00%, but the average price leaped by 59 42% to $1.64M, underscoring strong buyer interest in this segment
Multi-Family
Multi-family properties had an increase in signed contracts by 100 00%, although prices slightly dipped by 8 94% to $887K, suggesting strong market engagement and activity