Queens’ sales market stays stable

Residential markets in Queens and Long Island remained stable during the first three months of 2007, according to a new report by appraisal firm Miller Samuel. Average home prices fell 1.2 percent over the prior quarter, the firm’s Long Island/Queens Market Overview report found, but the median sales price in the region — $437,500 — was basically unchanged. The report tracks sales in Queens as well as Nassau and Suffolk counties, and Queens’ market performed better than Nassau’s and Suffolk’s. According to Jonathan Miller, CEO of Miller Samuel, the change in the average sales price signals evidence of weakness at the high end of the market, since the median sales price was static. more By Vanessa Londono