Cambria Heights NY Homes for Sale and Real Estate Trends Report 2010-2013
Cambria Heights NY Real Estate
Cambria Heights NY 11411
When purchasing or selling Cambria Heights NY Real Estste, it is important to have information on the vitality of the market, indicated by the number of homes that have sold, if home prices are increasing or decreasing and the effect of foreclosures and short sales.
The Cambria Heights NY Homes for Sale and Real Estate Trends Report covers Cambria Heights NY Real Estate market activity, year to year, for the 4 year period ended December 31 2013.
The report focuses on the number of Cambria Heights NY homes sold and median sales price with particular attention to foreclosure and short sale data. A Cambria Heights NY Search for Homes link is also available. For the years indicated, the periods covered are as follows
|
Year |
2010 |
2011 |
2012 |
2013 |
|
Period Covered |
1/1/2010-12/31/2010 |
1/1/2011-12/31/2011 |
1/1/2012-12/31/2012 |
1/1/2013-12/31/2013 |
Cambria Heights Overview
The community of Cambria Heights, located in the southeastern portion of the NYC Borough of Queens, is bound by Springfield Boulevard and Francis Lewis Boulevard to the west-Saint Albans, the Elmont, Nassau County border on the east, Queens Village to the north, Montefiore Cemetary, Laurelton and Rosedale to the south.
Cambria Heights derived its name from the Cambria Construction Company of Pennsylvania, which began to develop the community in the late 1920s. The "Heights" part of the name comes from the fact that, at an elevation of 49 feet, it is one of the three highest points in the borough of Queens. The other two points are Jackson Heights and Richmond Hill.
Cambria Heights NY Real Estate Sold
The total number of Cambria Heights NY homes sold for the four year period ended December 31 2013 decreased from 71 in 2010 to 55 in 2013. This represents a 22.5% decrease in sales volume. The volume of Cambria Heights NY Real Estate sales realized its biggest drop from 2010, when it was 71 to 2011, when it was 55. After a 7.3% increase from 2011 to 2012, sales volume levels returned to the 55 Cambria Heights Homes sold level in 2013.
A closer look at the type of sales over the four year period reveals a decrease in the overall number of Cambria Heights NY Real Estate foreclosures and Cambria Heights NY Real Estate short Sales. The number of foreclosures decreased from 17 in 2010 to 0 in 2013. The number of short sales remained flat at 6 in 2010 and 6 in 2013.
With total Cambria Heights, NY Real Estate sales of 55 for 2013, the 6 Cambria Heights, NY short sales represents 10.9% of total sales. Cambria Heights NY Real Estate foreclosures acconted for 0% of total sales.
Cambria Heights NY Real Estate Median Sales Price
The median sales price of Cambria Heights NY Homes over the 4 year period ended December 31 2013 has stabilized from $360,000 in 2010 to $360,000 in 2013. The median sales price realized its biggest decrease from $360,000 in 2010 to $345,000 in 2011, a 4.2% drop.
The decrease in volume of Cambria Heights NY foreclosures, increasing short sale median sales price from 2011 to 2013, tightening real estate supply and an improvibg economic picture are factors in strengthening the Cambria Heights Real Estate market.
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