You are reading

House Prices in Queens Grew at Highest Rate Among Five Boroughs in Third Quarter: Report

A 7 bedroom, 4 bathroom house currently listed in Belle Harbor for $1,500,000 (listing: Rockaway Properties)

Oct. 14, 2021 By Allie Griffin

Residential sales prices across Queens grew at the highest rate among the five boroughs over the past year, according to a new report.

The median sales price in Queens was $580,000 in the third quarter of 2021, a 17 percent increase from the third quarter of 2020 — representing a steeper rise than any other borough, according to a recently published Property Shark report.

The borough’s median sale price is also 15 percent higher than the $504,000 median recorded in the third quarter of 2019, before the pandemic.

The percentage increase in Queens over the past year was highest among the five boroughs, with Brooklyn following behind at 16 percent and the Bronx at 15 percent, the report states.

The number of residential sales across the borough also significantly increased year-over-year. There were 2,928 sales in Queens in the third quarter of 2021 — an increase of 89 percent from the third quarter of 2020, according to the report.

The uptick was not limited to the market bouncing back from the pandemic. The borough closed 14 percent more transactions in the third quarter of 2021 than in the third quarter of 2019 as well.

The most expensive neighborhood in Queens, according to the report, was Belle Harbor on the Rockaway Peninsula with a median sales price of $1.15 million — rising 22 percent year-over-year.

However, the area only ranked number 23 in terms of the most expensive neighborhoods citywide. The number one spot was taken by Hudson Yards, where the median sale price was $4.35 million, followed by Tribeca at $3.35 million and then Soho at $2.85 million, according to the report.

Hunters Point, meanwhile, had the second-highest median sale price in Queens at $1,064,000, with prices rising 19 percent year-over-year. The neighborhood ranked 29th citywide.

Fresh Meadows ranked third in Queens with a median sale price of $978,000, followed by Malba in fourth at $975,000 and Ditmars-Steinway at $960,000. The neighborhoods ranked 34th through 36th citywide, according to the report.

Overall, New York City’s real estate market has bounced back. The number of sales increased 145 percent in the third quarter of 2021 compared to the same quarter in 2020. The sales number is also up 35 percent pre-pandemic, from the third quarter of 2019.

email the author: news@queenspost.com
No comments yet

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Finding Room to Grow: NYC Apartment Buildings Designed with Families in Mind

Jul. 29, 2025 By Tara Lustberg

Finding family-friendly housing in NYC can be a challenge, especially with the average rent of a two-bedroom apartment in NYC averaging over $5,400 per month, according to apartments.com. According to reports, this is significantly higher (148%) than the national average and has increased by 7% since December 2023. But some properties offer thoughtful amenities for families, making city living seem more manageable.

Borough President recommends approval of One LIC Neighborhood Plan with conditions

Queens Borough President Donovan Richards announced on Monday a long list of recommendations to approve the city’s One LIC Neighborhood Plan with conditions.

The sweeping proposal entered the city’s Uniform Land Use Review Procedure (ULURP) in April, following certification by the City Planning Commission, and aims to transform a large portion of Long Island City with new zoning rules that would create nearly 14,700 housing units—including 4,300 affordable homes—alongside 14,400 jobs, over 3.5 million square feet of commercial and industrial space and expanded access to the East River waterfront.

Cool off this summer with margaritas in Queens

Jul. 25, 2025 By Paulina Albarracin

The summer season ushers in outdoor adventures, extended daylight hours and sweltering heat, making it the perfect time to kick back at a local restaurant or bar and order a refreshing margarita. Sipping on this tequila-infused cocktail is one of the best ways to beat the heat and revel with margarita connoisseurs in your neighborhood.