The Real Deal New York

Queens luxury sales hit all-time high

287 homes over $1 million have sold in the borough this year

November 10, 2015 12:39PM

7601 Ingram Street

7601 Ingram Street in Forest Hills, listed at $3.1 million

Queens might seem like the affordable option when compared to skyrocketing Manhattan and Brooklyn sales, but the borough is also attracting a record number of million-plus-dollar buyers.

A total of 287 Queens homes priced above a million dollars have sold in the first 10 months of 2015, a record high for the period.

The largest number of sales occurred in Hunters Point, where 48 properties changed hands. All five of the most expensive Queens properties sold last week cleared a million dollars, with one home, at 44-65 23th Street in Hunters Point, selling for $4 million.

That neighborhood registered an astonishing 132 percent in median home prices over the past decade, with the average moving from $399 to $924 between 2004 and 2014, PropertyShark reported.

Forest Hills was the second busiest neighborhood for luxury home buys, with 33 properties sold. Forest Hills Gardens, with 22 home sold, Bayside, with 19 homes, and Whitestone, with 16, also rated highly. [PropertyShark]Ariel Stulberg