June 2009 Market Report For Queens County, NY: Condo & Co-Op

By
Real Estate Agent with Keller Williams Landmark

Local Market Statistics



June 2009 - Condos & Co-Ops Astoria Flushing Forest Hills Long Island City Sunnyside Woodside Queens
Studio Condos & Co-Ops
Number Of Sales 2 1 3 - - - 18
Average Sale Price $200,000 $190,000 $123,333 - - - $134,050
Average Days On Market 167 136 131 - - - 117
Active Listings 4 32 36 9 1 7 199
New Listings - 12 7 - 1 - 54
Months Of Available Inventory 2 32 12 9 1 7 11
One Bedroom Condos & Co-Ops
Number Of Sales 5 18 11 - 1 1 178
Average Sale Price $262,000 $629,272 $209,591 - $158,000 $170,000 $199,888
Average Days On Market 131 89 131 - 133 153 120
Active Listings 125 141 174 43 25 30 1492
New Listings 2 36 44 - 4 7 310
Months Of Available Inventory 25 8 16 43 25 30 19
Two Bedroom Condos & Co-Ops
Number Of Sales 1 9 11 1 - - 74
Average Sale Price $330,000 $276,667 $363,273 $260,000 - - $278,887
Average Days On Market 123 54 51 71 - - 105
Active Listings 45 171 154 39 2 35 1456
New Listings 11 33 32 1 1 3 280
Months Of Available Inventory 45 19 14 39 2 35 20
Three (+) Bedroom Condo's & Co-Ops
Number of Sales - 3 1 - - - 12
Average Sale Price - $498,333 $379,000 - - - $530,167
Average Days On Market - 91 41 - - - 133
Active Listings 7 26 18 8 - 5 376
New Listings 3 8 6 - - 3 75
Months Of Available Inventory 7 9 18 8 - 5 31
Total Condos & Co-Ops
Number Of Sales 9 32 26 1 1 1 185
Average Sale Price $255,000 $266,932 $271,173 $260,000 $158,000 $170,000 $247,188
Average Days On Market 139 80 94 71 133 153 114
Active Listings 181 370 382 99 28 77 3,523
New Listings 16 89 89 1 6 13 719
Months Of Available Inventory 20 12 15 99 28 77 19

*All Statistics Retrieved From the Multiple Listing Service of Long Island (MLSLI)*
 

Keller Williams Realty Landmark closed 44 units with an average price of $389,536 and an average of 91 DOM.

Recommendation:

If you’re buying a home, it is important that you work closely with a highly-motivated agent who understands what’s going on with the real estate market and local economy. He/She will be able to advise you on how to get the most for your money and what homes you may want to avoid, as there are homes on the market that are not priced at their fair market value.

If you’re selling your home, it’s also important that you work closely with a highly-motivated agent who understands what’s going on with the market and local economy. Your goal is to net top dollar – which you may not achieve if you over price or under price your home.

Contact us today for a free consultation on whether it’s a good time to buy or sell and what factors to consider so that you don’t under price or over price your home. Please don’t hesitate – even if all you have is a question.

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