Queens Residential Market Update August 2019

 

Here is a quick update on Queens Home Sales for August 2019.  Units Sold are down 12.2% over this time last year.  The Median Sales Price is down 4.2% but pending contracts are up 8.5% which bodes well for the market.  The market is self-correcting and becoming a more balanced market.  We have 6.3 months of inventory which is the same as it was this time last year even though the number of homes for sale has gone up 13.2% versus last year.  Each neighborhood has its own dynamic so if you want to know more about your specific area, please reach out for your individual values.