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Queens ranks as one of the country’s most expensive luxury markets: Report

Courtesy of Hunters Point Parks Conservancy

Queens ranked among the top 25 most expensive luxury markets in the country in 2020, according to a recent report from My Affordable Luxury Magazine.

Queens, not technically a city unto itself, had a more expensive luxury market than a handful of major U.S. cities, including Chicago, Las Vegas and Sacramento.

According to the report, the starting point for a property to be included in the luxury market was $1.2 million in Queens, enough to make it the 21st most expensive luxury market in the country.

The median price in the borough was $690,000 this past year, according to the report.

But despite its high ranking nationally, Queens predictably isn’t as expensive as its Manhattan and Brooklyn neighbors.

Manhattan ranked as the most expensive luxury market in the U.S. in 2020, according to the report, which found that the starting point for a luxury property was $6,495,000 in the borough.

In Brooklyn, which ranked seventh overall, the starting point for a luxury property in 2020 was $2,200,000, the report said.

The report also found that the most expensive listing in Queens in 2020 was for $10 million. In Brooklyn, the most expensive listing was $17.5 million.

However, as expected, the most expensive listing in the city was in Manhattan, priced at $90 million.

For the full report, click here.

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