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Queens home prices continue to soar, while numbers of sales drop – QNS.com

Queens home prices continue to soar, while numbers of sales drop

Charts courtesy of Keller Williams Realty

The cost of homes in Queens has been soaring and are likely affecting sales in the borough, according to a new report.

For a third consecutive month ending in October, Queens saw a drop in home sales, while median prices in the borough rose for a second consecutive month, according to a monthly market update by Keller Williams Realty.

The prices of houses are also significantly higher compared to the same month last year, the report said.

Home buyers probably paid around $630,000 for a single or multifamily residence in October, but just $540,000 during the same month last year.

Sales are following suit by trending down when compared with the month of the previous year as well.

 

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