Queens experienced a year-over-year drop in the inventory of available home listings during the third quarter of 2025, resulting in fewer sales, with the median sales price going up for those that were sold, according to a report by Douglas Elliman Real Estate.
There was a 1.6% drop in closed sales of homes over this period of time, from 3,130 in the third quarter of 2024 to 3,081 in the third quarter of 2025. This decline was due in large part to the listing inventory going through a big decline. The listing inventory in Queens plummeted 23.9% during this time, from 4,703 last year to 3,577 this year.
With fewer options available in Queens to prospective buyers, prices often went up for the homes that were for sale. The median sales price in the borough rose 2.1% year-over-year, from $715,000 in the third quarter of 2024 to $730,000 in the third quarter of 2025. This marked the highest median sales price recorded by Douglas Elliman Real Estate.
Since sales declined at a slower rate than that of listings, the market ended up moving faster. It took much less time for all listings at the current sales rate to be sold this year than last year. The supply was sold in an estimated 3.5 months in the third quarter of 2025, compared to 4.5 months in the third quarter of 2024.
One field that remained mostly static year-over-year was the number of days that an available home spent on the market in Queens. After averaging 59 days on the market in the third quarter of 2024, these homes were on the market an estimated 60 days in the third quarter of 2025.
Among the different types of homes, condos stood out as one of the biggest outliers to many of these trends. The median sales price for these homes went down slightly, at 0.7%, from $664,500 in the third quarter of 2024 to $660,000 in the third quarter of 2025. Additionally, sales went up 7.7%, from 466 in 2024 to 502 in 2025. One trend that remained consistent with homes in the borough as a whole was the listing inventory, which decreased among condos.
Co-ops were more in line with the overall trends. The median sales price rose 0.3% among these homes, from $329,000 in 2024 to $330,000 in 2025. Sales dropped 5.7%, from 861 last year to 812 this year. However, the listing inventory went up, unlike Queens as a whole.
Homes intended for between one and three families followed the trends of all homes in the borough. They experienced a 3.9% jump in median sales price, from $890,000 in 2024 to $925,000 in 2025. Closed sales declined 2%, from 1,803 last year to 1,767 this year. Additionally, the listing inventory trended down for these homes.
