Home prices in Astoria hit record high

Astoria home prices are starting to look a lot like Brooklyn’s.

Once considered a prime spot for young families, homes in the Queens neighborhood are becoming more expensive, according to a report by real estate firm Modern Spaces. The average price of one-bedroom condos in the Queens neighborhood surpassed $400,000 for the first time in the fourth quarter of 2013, up from $388,000 the year before.

One single-family home is on the market for $750,000, which Amorelli Realty broker Paul Halvatzis told the New York Daily News would have sold for a half million three years ago.

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“The market, which was at one time available to all middle-class people, is no longer there,” Halvatzis said to the Daily News. “The average couple — unless they’re coming with a substantial down payment, excellent credit and good income — can no longer buy a one-family home.”

The median price of an Astoria single family home is now $480,000, which is closer to Brooklyn’s median at $579,000 than Queens’ at $359,000, according to StreetEasy. Astoria’s growth rate is second in Queens only to Long Island City, said president of Modern Spaces Eric Benaim to the Daily News. [NYDN]Angela Hunt

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Home prices in Astoria hit record high

Astoria home prices are starting to look a lot like Brooklyn’s.

Once considered a prime spot for young families, homes in the Queens neighborhood are becoming more expensive, according to a report by real estate firm Modern Spaces. The average price of one-bedroom condos in the Queens neighborhood surpassed $400,000 for the first time in the fourth quarter of 2013, up from $388,000 the year before.

One single-family home is on the market for $750,000, which Amorelli Realty broker Paul Halvatzis told the New York Daily News would have sold for a half million three years ago.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

“The market, which was at one time available to all middle-class people, is no longer there,” Halvatzis said to the Daily News. “The average couple — unless they’re coming with a substantial down payment, excellent credit and good income — can no longer buy a one-family home.”

The median price of an Astoria single family home is now $480,000, which is closer to Brooklyn’s median at $579,000 than Queens’ at $359,000, according to StreetEasy. Astoria’s growth rate is second in Queens only to Long Island City, said president of Modern Spaces Eric Benaim to the Daily News. [NYDN]Angela Hunt

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