In the fourth quarter of 2025, Queens experienced year-over-year increases in the median sales price and number of closed sales on homes, with the sales price reaching a new high for the borough, according to a report by Douglas Elliman Real Estate.
Over this period of time, the median sales price of homes in Queens rose 5.6%, from $700,000 in the fourth quarter of 2024 to $739,053 in the fourth quarter of 2025. This marks the highest quarterly median sales price that Douglas Elliman Real Estate has recorded for the borough.
The number of closed sales also trended up, having increased 4.2%, from 2,932 in 2024 to 3,054 in 2025. This marked the first time in five quarters that closed sales rose year-over-year.
Listing inventory decreased 27.1% over this period of time, from 2,899 in the fourth quarter of 2024 to 2,112 in the fourth quarter of 2025. It has been 12 quarters since the last time the listing inventory went up from the same quarter the previous year.
As a result of the listing inventory continuing to go down, the few new available homes spend less time on the market. This past quarter, the estimated months of supply, which is the estimated number of months it takes for all listings to be sold at the current sales rate, decreased 30%, from 3 in 2024 to 2.1 in 2025. The estimated number of days an available unit spends on the market fell from 64 days to 62 days. Additionally, the drop in listing inventory led to the market share of bidding wars rising from 22.2% in the fourth quarter of 2024 to 24.7% in the fourth quarter of 2025.
Condos accounted for 493 of the homes sold in the fourth quarter of 2025, remaining mostly static from the 495 sales the previous year. These were the only types of homes to experience a drop in the median sales price over this period of time, down 0.5% from $683,552 in 2024 to $680,000 in 2025.
There were 796 co-ops that had sales close in the fourth quarter of 2025, up 1.8% from the 782 closed sales in the fourth quarter of 2024. The median sales price of these homes increased 6.5%, from $319,000 in 2024 to $339,750 in 2025.
One-to-three-family homes experienced a 6.6% jump in closed sales, from 1,655 in the fourth quarter of 2024 to 1,765 in the fourth quarter of 2025. At the same time, the median sales price went up 4.6%, from $870,000 in 2024 to $910,000 in 2025.
