This Month in Queens Real Estate: APRIL 2015
by queenshometeam
 Queens Real Estate Talk
Apr 20, 2015 | 496 views | 0 0 comments | 12 12 recommendations | email to a friend | print | permalink
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April 2015 Queens Real Estate Market Update

Homes sales increased in March while inventory levels remained tight. Inventory typically reaches its low point during the winter months, but the current level is well below that of last year. This led to higher than expected home price increases. While home price gains are good for homeowners, it will be important for inventory to loosen in the coming months to avoid constraining home sales and driving down affordability ahead of the potential for rising interest rates.

Month’s Supply: 6.1 Months

Last Month: 5.7 Months

Last year: 7.5 Months

 

Interest Rates

30-year rates remain below 4% but have begun to trend back upward after dropping in the second half of last year amid concerns around the global economy. Currently, Freddie Mac reports the following figures: 30-year fixed rate, 3.78%; 15-year fixed rate, 3.06%; 5/1-year adjustable rate, 2.97%.

 

Queens Home Sales

The seasonally adjusted annualized rate of Queens home sales increased 9.8% from February to March to a pace of 641 homes. Queens home sales decreased year-on-year in March and were 2.3% lower than the same month of the previous year. Specifically, Queens Residential single and multi family home sales are down .6%, Queens Condo sales are up 18.8%, and Queens Coop sales are down 10.4% from the same month last year.

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_April_2015


Queens Home Prices

The median Queens home price reported by the Long Island Board of Realtors increased 1.3% in March to $405,000. Prices remain 9.5% higher than the same month of the previous year. The recent uptick in year-over-year price growth is probably due to low inventory levels across the county in recent months. Specifically, Queens Residential single and multi family home prices are up 6.3%, Queens Condo prices are up 16.7%, and Queens Coop prices are up 3.4% from the same month last year.

Queens_Real_Estate_Market_Home_Coop_Condo_Prices_April_2015


Queens Housing Inventory

The number of homes available decreased 26.2% compared to the same month of the previous year, with 4,084 Queens homes available for sale in March. This translated to 6.1 months of supply. Historically, inventory typically remains low during March due to the cool weather and then loosens as the weather warms in April. Specifically, there are currently 2,574 Residential single and multi family homes, 1,300 Coops, and 405 Condos available for sale in Queens County.


Courtesy of George & Abigail Herrera w/the Queens Home Team at Keller Williams Realty Landmark II. 

www.queenshomeselling.com

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Food for Thought
by RachelleN
 Random Thoughts
Apr 19, 2015 | 3516 views | 0 0 comments | 145 145 recommendations | email to a friend | print | permalink

"God has cared for these trees, saved them from drought, disease, avalanches, and a thousand tempests and floods. But he cannot save them from fools." ~John Muir

 Please think twice before you destroy them.

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Just Listed: 1 Bedroom Coop at The New Hampshire House in Forest Hills, NY 11375
by queenshometeam
 Queens Real Estate Talk
Apr 17, 2015 | 889 views | 0 0 comments | 28 28 recommendations | email to a friend | print | permalink
George & Abigail Herrera Introduce another 1br Coop for Sale at The New Hampshire House in Forest Hills, NY!!!


Privacy, great views, and convenience are featured in this lovely Forest Hills Coop for Sale. Offered for sale by George Herrera, Abigail Herrera, and the Queens Home Team at Keller Williams Realty. This Property is located in the sought-after community of Forest Hills.

Located in prestigious Forest Hills and close to all of the best that Queens, New York has to offer, New Hampshire House in Forest Hills is one of the city's premier neighborhoods. This particular Coop offers:
Large 1 Bedroom In the New Hampshire House Development in Forest Hills.
Eat in Kitchen. Hard wood Floors. Upgraded Bathroom.
Community School District 28.
With a walk score of 97 most of your errands does not require a car.
Nearby Transportation with the E & F lines less than .2miles away. Near the Grand Central Pkwy. Tons of Restaurants, Groceries, Shopping centers and Parks nearby. This Home could be the right fit for you. The Seller Says:
" My favorite features of that apartment were the windows. They are big and beautiful. They helped fill the apartment with natural light all the time, and allowed a great breeze in the summer. I also loved the steam heat, it was TOASTY in the winter. Those closets were plentiful and deep as well."

This Forest Hills NY Coop is located at 110-31 73rd Rd Forest Hills, NY. The 1 Bedroom Coop for sale is being offered at $215,000. For more information, contact George Herrera, Abigail Herrera, or the Queens Home Team at Keller Williams Realty Landmark II at: (347) 921-0895. Full details are available at: http://www.exclusivequeenshomes.com/featuredlistings

George & Abigail Herrera are local Forest Hills NY Realtors experienced in working with Residential 1-3 Family Homes, Coops, and Condos, in Forest Hills NY. George, Abigail, and the Queens Home Team can be reached at the Keller Williams Realty Landmark II office which is located at 75-35 31st Ave, Ste 202, Queens, NY 11370.
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