Northwest Queens experienced a huge boost in its inventory of listings in March 2025 compared to the same month the previous year, according to a report by Douglas Elliman Real Estate.
Year-over-year, the listing inventory in northwest Queens, which includes the neighborhoods of Astoria, Long Island City, Sunnyside and Woodside, rose 66.2%, from 717 in March 2024 to 1,192 in March 2025. Such a significant change reflects how this area has been trending for over a year. This marked the 14th straight month in which the listing inventory rose year-over-year.
All the other price trend indicators also rose year-over-year in March 2025. This includes the median rental price and the number of new leases. March 2025 marked the third consecutive month in which all of these indicators went up.
The median rental price went up 7.8% over this period of time, from $3,200 in 2024 to $3,450 in 2025. This includes increases across the board among studios, one-bedroom, two-bedroom and three-bedroom units. One-bedroom units had the biggest jump, having gone up 13.8%, from $2,945 in March 2024 to $3,350 in March 2025.
The median rental price for studios rose 1.7%, from $3,048 last year to $3,100 this year. Two-bedroom units had a 4.2% jump, from $3,738 to $3,896. Three-bedroom units experienced a rise of 5%, from $4,000 in 2024 to $4,200 in 2025.
New leases rose 5% in northwest Queens, from 704 in March 2024 to 739 in March 2025. However, only two-bedroom units had an increase in new leases being signed. Its 29.5% jump, from 176 last year to 228 this year, was more than enough to cancel out the declines among studios (2.7% decrease from 112 to 109) and one-bedroom units (3.9% decrease from 355 to 341). Two-bedroom units had no change, remaining at 61 new leases signed.
