TRD Pro: Ranking Queens’ top neighborhoods by average sale price

Prices in the borough are up 22% from before Covid, with Astoria commanding the largest sums

Illustration of Astoria Park, Queens (Getty)
Illustration of Astoria Park, Queens (Getty)

The following is a preview of one of the hundreds of data sets that will be available on TRD Pro — the one-stop real estate terminal that provides all the data and market information you need.

Queens homebuyers this spring encountered a market with many of the same defining characteristics as Manhattan and Brooklyn: Limited supply, sustained demand and continually rising prices.

The median sales price for co-ops, condominiums and one-to-three-family homes inched up another 2.7 percent in the second quarter to $698,500, representing a 22.1 percent increase from the same period in 2019, according to a report by appraiser Miller Samuel for Douglas Elliman.

Townhouses and detached homes were most responsible for the rise. The median sales price jumped 8.9 percent in the quarter to $870,000, the second highest on record. And for the fourth straight quarter, listing inventory fell on an annual basis.

The Real Deal ranked the Queens’ top 10 most expensive neighborhoods in the quarter, based on the average sale price for residential properties, including condos, co-ops and townhouses, recorded in the city register. Only neighborhoods with 10 or more sales were considered for this study.

The top neighborhood was Astoria, with an average sale price of $1.25 million across 51 deals — 20 percent higher than in the second quarter of last year, though the number of transactions fell by 16 percent.

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The top deal in Astoria was for 22-24 29th Street, a two-story, 2,600 square-foot home — built in 1920 but renovated in 2016 — which sold for $1.9 million.

Second on the list is Hillcrest, with an average sale price of $1.11 million across 26 deals, a 36 percent increase in sales volume from the same period last year, and the only neighborhood on the list in which the number of closed sales rose.

Hillcrest’s largest sale occurred at 61-49 167th Street, a 4,300-square-foot home that went for $1.65 million in April.

Jamaica Estates took the third spot with 36 deals averaging $1.06 million. The neighborhood has the largest jump in average sale price, up 46.8 percent from the same period last year.

The largest deal was at 82-28 Surrey Place, a five-bedroom, 4,200-square-foot colonial that went for $2.9 million in April.

Whitestone took fourth place with 46 deals averaging $1.05 million. The top deal was for a 4,000-square-foot four-bedroom home at 149-23 2nd Avenue, which closed for $2.5 million, also in April.

Rounding out the top five were the Rockaways, which saw an average sale price of $1.03 million across 11 deals — half the number of sales recorded in the second quarter of last year.