Queens Home Sales Decline, Foreclosures Still Going
Houses in Queens are not selling as fast as they once were, according to Prudential Douglas Elliman via Curbed. The site reports both a decline in price and inventory in the borough. In Northwest Queens, where many new developments are located, the median sale price fell 15.8 percent from last quarter—but the number of sales stayed…
Houses in Queens are not selling as fast as they once were, according to Prudential Douglas Elliman via Curbed. The site reports both a decline in price and inventory in the borough. In Northwest Queens, where many new developments are located, the median sale price fell 15.8 percent from last quarter—but the number of sales stayed steady, at 194 units.
The Queens Courier also reports that southeast Queens remains the epicenter of citywide foreclosures.
According to a spokesperson from Property Shark, the 82 newly-scheduled foreclosure auctions in Queens account for 39 percent of New York City’s total foreclosure activity.
Still, the paper says that foreclosures in the city are down 18 percent as a whole when compared with this same period last year.
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And this is why Brooklyn still doesn’t have an Apple store.
Or an Armani Exchange Factory Store.