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Rego Park and Forest Hills Lead Queens Home Sales, Report Says

By Ewa Kern-Jedrychowska | October 22, 2015 5:41pm
 Central Queens, including Forest Hills, Kew Gardens and Rego Park, had the most home sales in the borough during the third quarter of 2015.
Central Queens, including Forest Hills, Kew Gardens and Rego Park, had the most home sales in the borough during the third quarter of 2015.
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DNAinfo.com/Ewa Kern-Jedrychowska

QUEENS — The housing market is hot in Forest Hills, Rego Park and Kew Gardens, according to a report published by the Real Estate Board of New York.

The neighborhoods topped the list of Queens home sales during the third quarter of this year with 464 transactions, according to the report.

The Flushing area had the second highest sales in the borough with 374, followed by Jackson Heights/Elmhurst with 332 sales.

REBNY spokesman Jamie McShane, who described the Central Queens neighborhoods as "up and coming," said that they attract home buyers with "a lot of transportation options." They also have a lot of homes for sale as opposed to dwellings for rent, he said.   

The average condo sale in Rego Park/Forest Hills/Kew Gardens jumped 9 percent, from $470,000 during the third quarter last year to $510,000 this year.

The average co-op price in the area also went up — from $264,000 during the third quarter last year to $274,000 during the same period this year, a 4 percent increase.

And the average sale price of one-to-three family homes went up 11 percent to $1,000,000 during the third quarter this year, compared to $902,000 during the same period last year.

Queens as a borough also saw a growth in the number of home sales which went up to 4,040, a 17 percent increase compared to the third quarter of last year, according to the report.

The average price of a dwelling in Queens, including condos, co-ops and one-to-three family homes, was $495,000, up 7 percent from the third quarter of 2014, according to REBNY.

The report also pointed out that home sales in the Springfield Gardens/Jamaica/South Jamaica/Baisley Park area are heating up as well. The number of sales of one-to-three family homes in that area during the third quarter of 2015 increased to 266 from 242 in the third quarter of last year, tying with Richmond Hill/ South Ozone Park/Woodhaven for the most one-to-three family home sales in a Queens neighborhood.

The average sales price of such homes in Springfield Gardens/Jamaica/South Jamaica/Baisley Park grew to $382,000 in the third quarter of 2015, an increase of 17 percent compared to the third quarter of 2014.