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.
- 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.