Corona and Auburndale are the two Queens neighborhoods to keep an eye on in the real estate market next year, according to a new report.
StreetEasy has released their roundup of NYC Neighborhoods to Watch in 2019. The study was conducted on four main indicators: annual change in median sales and rent price, listing views on StreetEasy and the amount of new construction units in the neighborhood.
Corona, which took the No. 8 spot on the list, saw the median rent price raise to $1,880 and the median sale price raise to $995,500, marking a 3 percent increase and 58 percent increase, respectively, year-over-year. Searches on StreetEasy’s website for Corona rose 12 percent during 2018 and the neighborhood saw construction on 143 new units.
Flushing’s Auburndale neighborhood took the No. 9 spot on this year’s roundup. In addition to 225 new construction units, the neighborhood saw a 31 percent increase in web searches on StreetEasy this year.
Auburndale also saw increases in year-over-year median rent and sales prices, increasing to $2,048 and $968,000, respectively.
This year, the number one spot went to Downtown Brooklyn. While the neighborhood did not make the top 10 list, Long Island City was given an honorable mention. In light of Amazon’s HQ2 announcement, StreetEasy saw buyer interest in the area skyrocket, with searches of the neighborhood increasing 500 percent in the days following the announcement.
Click here to read the full report.
