BY SAMANTHA WANDERER
Ten Queens neighborhoods made it on the list of the top 50 most expensive neighborhoods in New York City during the third quarter, according to a recent ranking from PropertyShark.com.
Ditmars-Steinway crossed over the $1 million threshold, earning its spot on the list as the highest median home sale price in Queens this quarter. Hunters Point, Belle Harbor and East Flushing also made it in the top 35 for New York City as a whole.
Year-over-year increase percentages were also calculated for each neighborhood. Old Howard Beach had the greatest percent increase in Queens, up 50 percent from last year.
Of the neighborhoods that made it on the list, none of them had a percent decrease from last year. East Flushing was the only neighborhood that has stayed the same, and Rockwood Point, Fresh Meadows and Auburndale were the only neighborhoods on the list that did not have at least a 5 percent increase.
The amount of transactions throughout the boroughs have decreased since last year, with Queens down 1.4 percent. This is less than Manhattan and the Bronx, though, which decreased by 7.3 percent and 11 percent, respectively.
The Mansion Tax in New York City, which took effect on July 1, most likely has something to do with the overall decrease in transactions. As buyers get used to the tax, however, the volume of sales may once again begin to increase.
To read the full report, visit propertyshark.com/Real-Estate-Reports/priciest-NYC-neighborhoods.
