If you want to own a home in Malba or Neponsit, it’s probably going to cost you a cool million, according to a new report.
Homes in the two Queens neighborhoods ended 2020 with a median sales price over $1 million, the report from from Property Shark said. Both Malba and Neponsit, the only two Queens neighborhoods with a medial sales price over $1 million, saw an increase in the price of over 20 percent, when compared to last year.
The median sales price for a home in Malba hit $1,350,000 in 2020, the highest increase citywide. In Neponsit, the median sales price jumped to $1,125,000, according to the report.
The increases in the two Queens neighborhoods were examples of a larger trend taking place in the real estate market across the borough.
Borough-wide, the median sales price for homes was $520,000, an 8 percent year-over-year increase, according to Property Shark. Overall, Queens neighborhoods made up 19 percent of the city’s priciest neighborhoods in 2020, making it the third most expensive in the city, behind Brooklyn and Manhattan.
The least expensive neighborhood in 2020 was Jamaica Hills, where homes sold for a median sales price of $149,000.
See a list of the ten most expensive neighborhoods in the borough by median sales price below.
- Malba ($1,350,000)
- Neponsit ($1,125,00)
- Hunters Point ($891,000)
- Queensboro Hill ($859,000)
- Fresh Meadows ($839,000)
- Auburndale ($838,000)
- Ditmars – Steinway ($835,000)
- Belle Harbor ($830,000)
- East Flushing ($818,000)
- Hollis Hills ($814,000)
For the full report from Property Shark, click here.