Queens experiencing mixed growth, from rentals to condo sales

Some areas are seeing rental rate hikes
  • Prices have remained the same in all neighborhoods with the exception of Long Island City, which decreased by 3.5 percent, according to the Orange Report.
  • Queens rental prices fell slightly in the fourth quarter of 2015 and are expected to level out in 2016 due to an increase inventory.
  • Condo inventory is on the rise in Queens and so is demand, especially in the luxury condo space.
  • Astoria is experiencing rental price increases far above other locations in the borough.

Depending on Location, Queens is experiencing mixed real estate price growth from rentals to condo sales, according to Modern Spaces’s Orange Report, a quarterly market report on New York City real estate.