The average cost of homes for one to three families reached $1,013,558 in the second quarter of 2025, marking the first time that price has reached $1 million dating back to the second quarter of 2024, according to a report by the real estate firm Brown Harris Stevens.
Since the second quarter of 2024, the average sales price of these homes has steadily gone up for the most part, with the one outlier being a decline from $961,821 in the third quarter of 2024 to $947,965 in the fourth quarter.
Year-over-year, the average price has gone up approximately 9.1%, from $928,953 in the second quarter of 2024 to $1,013,558 in the second quarter of 2025.
The number of closings for these homes has dropped over this period of time from 1,331 in the second quarter of 2024 to 1,301 in the second quarter of 2025. This decline comes after closings increased quarterly in the last two quarters of 2024, before dropping in the first quarter of 2025.
Southwest Queens, which includes the neighborhoods of Forest Park, Glendale, Maspeth, Middle Village and Ridgewood, had the most significant climb year-over-year in the average price of these homes. The price in this section of the borough rose from $945,135 in 2024 to $1,048,552 in 2025. Over this same period of time, the number of closings for homes plummeted from 146 last year to 104 this year, marking by far the most drastic decline in this area among all parts of Queens.
When it came to apartments in Queens, the average price and number of closings trended similarly with each other. The average price of apartments rose over 4% year-over-year, from $487,641 in the second quarter of 2024 to $507,417 in the second quarter of 2025. Closings also increased by just over 4%, from 1,141 in 2024 to 1,183 in 2025.
Southeast Queens, comprised of the neighborhoods of Arverne, Bayswater, Belle Harbor, Breezy Point, Broad Channel, Cambria Heights, Edgemere, Far Rockaway, Hollis, Hollis Hills, Holliswood, Howard Beach, Laurelton, Neponsit, Ozone Park, Queens Village, Rockaway, Rockaway Beach, Rockaway Park, Rosedale, South Ozone Park, Springfield Gardens and St. Albans, had the largest boost in price of apartments, from $386,654 in 2024 to $420,502 in 2025.
The biggest jump in the number of closings for apartments over this same period of time was seen in northwest Queens, which is made up of Astoria, Ditmars–Steinway, East Elmhurst, Elmhurst, Hunters Point, Jackson Heights, Long Island City, Sunnyside and Woodside. The number of closings there went up from 325 in the second quarter of 2024 to 368 in the second quarter of 2025.
