What should you do if you could time travel? Why not go back 21 years and buy some Queens real estate?
Owning a home in Queens is one of the most common aspirations among the residents, even though it often seems that prices in New York real estate have done nothing but gone up every year. A hopeful homeowner then frequently finds herself wishing she had a time machine and could go back to buy that house or condo when it wasn’t that expensive.
As we’re sure you’re aware, the publisher of QNS, Schneps Communications, also owns a beloved community newspaper, Ridgewood Times, which has been serving the area of Ridgewood, Maspeth, Middle Village and Glendale since 1908. Recently, we went through the classified section of the April 20, 1995 Ridgewood Times and found some astounding figures.
Within the course of 26 years, the prices of houses and condos have multiplied, and so we decided to compare the prices of some of the most interesting finds from 1995 with today.
#1 A two-bedroom co-op near Forest Park
In 1995: $39,800
Today’s price: $164,999
In 1995 Fleet Street Realty listed a two-bedroom condo in Forest Hills “opposite of a park” for $39,800. Today, Trulia lists a similar property at 83-20 98th St. for a little over quadruple the amount.
#2 Single-family detached house in Middle Village
In 1995: $209,000
This one-family, three-bedroom detached house located at 77-41 66th Rd. was once worth $209,000. Today for a similar home located near Juniper Valley Park, you would pay about $564,000, according to Property Shark.
#3 Two-family house in Elmhurst
In 1995: $178,000
In 1995, Century 21 Realty listed this lovely two-family house at 52-07 79th St. in Elmhurst for $178,000. Today you’ll pay $773,000 according to Trulia. SERIOUSLY! It’s a first-floor duplex of three bedrooms with 2 1/2 bathrooms with a “fresh coat of paint.”
#4 Nice single-family house in Middle Village
In 1995: $195,000
If the owners of a single-family house at 61-50 78th St. in Middle Village bought their house in 1995, they are probably pretty happy. Its price was a mere third of its value today.
#5 Huge condo in Ridgewood
In 1995: $125,000
Way back when in 1995, Top Realty Co. listed a large condo in not-yet-hip Ridgewood for the mere $125,000. This condo of five rooms, three of which were bedrooms, had also a “beautiful terrace,” according to the listing. Today, a similar condo in Ridgewood would cost you $899,000. Take a deep breath!
#6 House with a yard and a patio in Glendale
In 1995: $194,000
A detached, single-family house at 82-74 89th St. in Glendale used to run for $194,000. Today, you’ll pay up more than twice as much for it. (Feel free to cry now…)
#7 Single-family ranch in Maspeth
In 1995: $143,000
These cute little houses at 58th Road in Maspeth, once described at “ranches,” almost tripled their value over the course of 21 years. If you bought it, you score; if you didn’t, you weep.
#8 Four-family brick house in Ridgewood
In 1995: $245,000
If you’re excited that you can afford this four-family Ridgewood home with a driveway right off Fresh Pond Road because it’s only $245,000, return to 1995 immediately! Today a house like this one would cost you at least $999,000.