Queens Real Estate Market Update: Q1 2025 – What Buyers and Sellers Should Know
The Queens real estate market kicked off 2025 with noticeable changes—some expected, others less predictable. Prices are still rising, but not as rapidly, and a shift in buyer behavior is beginning to reshape how quickly homes move. With inventory growing and buyers coming in more prepared, the landscape is evolving in ways both sides of the market should pay attention to.
Quick Summary
In early 2025, Queens continues to see steady price growth, a rise in available homes, and more selective buyers. Single-family properties are selling faster even though total sales dipped, and multifamily homes are retaining strong value despite lower activity. Mortgage rates remain the biggest influence on affordability, and neighborhoods such as Forest Hills, Ridgewood, and Hunters Point are experiencing the strongest demand.
Overall, limited supply should keep prices firm, but buyers may gain more negotiation power going forward.
Major Market Trends in Queens (Q1 2025)
Compared to other NYC boroughs, Queens is moving at a moderate but stable pace. Home prices are still increasing, although not as quickly as Manhattan or Brooklyn. Much of this is due to steady demand and limited new development.
Inventory & Pricing
More homes are hitting the market, giving buyers additional choices.
New construction remains limited, pushing competition higher in areas with strong demand.
Shifting Buyer Preferences
Today’s buyers—especially investors—are prioritizing:
Energy-efficient and sustainable features
Practical layouts adaptable to hybrid living
Flexible spaces that can be repurposed over time
As a result, Queens is entering a period of adjustment, where increased inventory and strategic buyers balance against restrained price growth.
Current Market Conditions
Despite softer sales numbers, activity in Queens remains strong. Homes are selling faster, and price trends support a seller-friendly environment.
Single-Family Homes
Closed sales: 219 (↓ 14.1% from 2024)
Average days on market: 52 days (↓ 28.8%)
Inventory: 1,195 homes (↓ 6.2%)
Takeaway: Although fewer homes sold, those that did moved quicker and at increasing price points. Sellers continue to hold the advantage.
Multifamily Homes (2–4 Units)
Closed sales: 117 (↓ 21% from last year)
Sale-to-list ratio: Up 1.6%
Days on market: 81 (unchanged)
Takeaway: Even with fewer transactions, pricing remains resilient. Properly priced multifamily homes continue to attract serious buyers.
Pricing Expectations for 2025
The median sale price in Queens reached $900,000, reflecting a 3% increase from the previous year.
But price movement varies across neighborhoods:
Some areas continue to climb steadily
Others are seeing more modest, gradual growth
Why prices are holding steady
Demand for Queens remains consistent
Buyers view the borough as stable for long-term investment
Market conditions differ by neighborhood, creating both opportunities and challenges
Expect overall price growth to stay positive but more moderate as buyers become more selective.
Impact of Mortgage Rates
Mortgage rates remain one of the biggest determinants of market behavior.
How rates influence the market
Lower rates → more qualified buyers → stronger demand
Higher rates → reduced affordability → slower price growth
In this environment:
Buyers should explore subsidy or financing assistance programs
Sellers may experience stronger interest when rates drop, but caution remains due to broader economic factors
Most Popular Neighborhoods in Queens
Demand remains concentrated in areas that offer the best mix of safety, amenities, transportation, and lifestyle appeal.
Top Neighborhoods This Quarter
Forest Hills
Suburban feel with city access
Strong schools
Mix of single-family homes and prewar buildings
One of the safest, most family-friendly areas
Ridgewood
Internationally recognized for its culture and community
Trendy, dynamic, and diverse
Hunters Point
High sale prices reflecting premium demand
Waterfront living and excellent transportation
Popular with high-income buyers
Astoria and Long Island City also continue to draw interest thanks to their vibrancy and growth potential.
Market Outlook: What’s Next?
Queens is approaching a more balanced phase. Price growth is likely to remain steady, but buyers may finally regain some room to negotiate.
What will shape the months ahead?
Low inventory will keep prices from dropping
Selective buyers will still compete aggressively in desirable areas
National trends show more active listings and larger seller discounts
Pending home sales declining 1% year-over-year suggests a potential shift toward buyer leverage
Short-term forecast:
Expect stable pricing across most neighborhoods, with buyers benefiting from increased negotiation opportunities—especially if national listing growth continues.
Key Highlights
Queens shows moderate price growth, driven by steady demand and limited development.
Inventory is rising, offering buyers more options.
Buyers are more selective, favoring flexible and sustainable homes.
Single-family homes are selling faster, despite fewer overall sales.
Multifamily properties maintain strong values, even with reduced activity.
The median price hit $900,000, up 3% year-over-year.
Mortgage rates are directly affecting affordability.
Forest Hills, Ridgewood, Hunters Point, Astoria, and LIC remain the hottest neighborhoods.
Short-term: Prices likely stay firm, but buyers may gain more negotiation space.
Data and market insights sourced from Sky Limit Realty Group’s report, “Queens Real Estate Market Report Q1 2025.”
