This Month in Queens Real Estate: April 2014
by queenshometeam
 Queens Real Estate Talk
Apr 10, 2014 | 10109 views | 4 4 comments | 547 547 recommendations | email to a friend | print | permalink
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April 2014 Queens NY Market Update 

The pace of home sales remained sluggish in March according to the most recent data released by the Long Island Board of Realtors. A combination of higher prices and new lending standards have played a role in the slower pace of sales, as did February’s severe winter weather. Prices continued to rise despite the slower sales pace, but at a much slower pace than what we saw at the same time last year. Inventory levels have risen slightly & slowly. Based on the first quarter inventory activity, it seems that these low levels of inventory may continue through 2014. Interest rates have continued their slow and steady increase, and potential buyers should anticipate this general trend continuing throughout the year.

Month’s Supply: 7.5 Months

**Month’s supply over 6 months is said to favor buyers, month’s supply below 6 months is said to favor sellers, and month’s supply of 5-6 months is said to be a balanced market.

 

Interest Rates

Interest_Rates

Rates rose slightly from January to February, and they will likely continue to do so throughout the year as the economy improves and the Federal Reserve reduces its asset purchases. Currently, Freddie Mac reports the following figures: 30-year fixed rate, 4.40%; 15-year fixed rate, 3.42%; 5/1-year adjustable rate, 3.10%.



Queens NY Home Sales

 

Queens_NY_Real_Estate_Market_Home_Sales_APR_2014

The pace of home sales rose from February to March with LIBOR reporting an annual pace of 646 homes. Sales were up 13% month to month and up .5% from the same month last year. Winter weather likely played a role in the slow pace of home sales in January & February but March sales picked up likely due to the warmer weather. As we move out of the winter months, and lenders and consumers adjust to the changes in affordability and regulation, we should see sales begin to pick back up.

 

Queens NY Home Prices

 

Queens_NY_Real_Estate_Market_Home_Prices_APR_2014

Median home price decreased slightly in March to $370,000, down 2% from the previous month. Prices remain above those seen at this time last year with March posting a 4.2% year-over-year gain, and many sellers continue to benefit from equity gains accrued in last year’s substantial price recovery in Queens County.

 

Queens NY Housing Inventory

 

Inventory levels picked up once again with 5,534 available for purchase, up 3.7% from last month. This represents 7.5 months of inventory at the current sales pace, which is down 23% from last year and up 6% from the previous month. As we move further into the year, we should continue to see inventory loosen, giving buyers more choices and putting less upward pressure on prices.

 

Courtesy of the Queens Home Team at Keller Williams Realty Landmark II.



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Comments
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JAMESTURANOBROKER*
|
May 04, 2014
Viva La Difference! Compare what is on the market today. ***MIDDLE VILLAGE NORTH***

Location, size of interrior sq.ft., how many levels, number of beds.,

number of bathrooms, and the asking prices.....

Now if you have seen homeS for sale between $550k and $659k asking, see the difference of what will be available on May 15th. and the reason why this home will sell in 7 days or less.

NO SIGNS AND NO MLS, ONLY PRIVATE SHOWINGS

COMPARE: CORNER HOME NOT SANDWICHED IN THE MIDDLE OF A BLOCK

*DETACHED 1 FAMILY*TWO ENTRANCES*HUGE THREE LEVEL HOME* GARAGE LOCATED BEHIND YARD WITH ACCESS FROM 66 ROAD* YARD OF BEAUTIFUL LARGE COUNTRY EAT -IN KITCHEN THAT HAS A HALF BATH ON 1ST.FLOOR* A FINISHED FAMILY ROOM OFF THE KITCHEN & HALF BATH,*THREE BEEDROMS FULL BATH,* A WALK UP ATTIC FOR THE 4TH BEDROOM-DEN-OR OFFICE. *LOW TAXES* PLENTY OF ENORMEOUS POTENTIAL* WALK TO ALL STORES/SCHOOLS/BUSES AND ON UNIFORMED BLOCK WITH PLENTY OF PRIVACY*YOU WILL NEVER HAVE TO MOVE AGAIN.*

Educated buyers will see the value per sq.ft. for their money!

After apprasing over 4,000 homes to date, and a recent sale last month on this particular block of $635,000 dollars, this home will be placed at an asking price of $649,500 asking. SOMEONES 'DREAMHOME' FOR SURE!

To be posted on Trulia May 14th. Showings begin May 15th, 2014

/////////////////////////////////////////////////////////////////////////////////////////////////////////////

Jim Turano/Broker-Diverse Real Estate-Celebrating 35*years in the Business.

1-347-837-9206 cell

(Must give my agents the opportunity to sell this home)
adelescalfanisalesag
|
April 28, 2014
What a Hot Market! Another Home Priced right from the beginning by my Broker, and the results are as follows:

Since last Monday, the first day of showing this 1 family Brick Townhouse,

with 3 bedrooms, front terrace, rear yard, diveway, 1 car garage till yesterday, Sunday April 27th, Diverse Real Estate had 28 Buyers view the Home.

A total of 7 offers as well.

There are many homes that are for sale in the area, but this one was priced accordingly with the improvements made.

New Heating unit, upgraded electric, new hot water tank, new windows, roof only 5 years old and the home was pointed. (These are major expenses that a new buyer does not have to incur.)

Location! Location! Home was located at 61-19 79 street.

FACT: YOU SEE WITH A BROKER THAT HAS 35 YEARS EXPERIENCE, WHO IS HANDS ON, WHO HAS APPRAISED OVER 4,000 HOMES TO DATE, WITH A GOOD REPUTATION PROVES YOU DO NOT NEED THE LARGEST REALTOR IN THE AREA.

NOR DO YOU NEED MULTIPLE LISTING.

And you do not need two dozen agents showing your home.

Like having the right surgeon to perform an operation.

No other Broker, can duplicate what Jim Turano does.

And no other broker can give you the type of results he does either.

The most googled Broker, and rated in the top 1% most viewed here on TRULIA.

COMING SOON!

A detached 1 Family, two bedroom in Middle Village North!

A detached 1 Family three bedroom in Middle Village North!

Proud to work with a Broker who is hands on.

Adele Scalfani, salesperson,

Diverse Real Estate. 1-718-496-8673
jamesturanobroker
|
April 20, 2014
People are coming to Middle Village, from Greenpoint, & Williamsburg. This is a Hot Market, not like this article states a sluggish Market in March!

LOCATION, JUNIPER PARK, COUNTRY ATMOSPHERE, HIGH RATED SCHOOLS, EXPRESS BUSES TO MANHATTAN, THE 'M' TRAIN, AND PLETY OF NURSERY SCHOOLS.

Last two listings of 1 family homes sold in 48 hours and 72 hours.

That is not the definition of SLUGGISH!

Here is one that will have an Open House tomorrow evening.

It will sell in less than a week to.

By JIM TURANO, Sun Apr 20 2014, 06:12

OPEN HOUSE: MONDAY, APRIL 21,ST. TIME 5P.M. TO 7P.M.

ADDRESS 61-19 79 STREET, MIDDLE VILLAGE NORTH, NY 11379

1 FAMILY 3 BEDROOMS...NEW HOT WATER TANK, NEW GAS HEATING UNIT, & 5 YEAR OLD ROOF

FRONT TERRACE, PARQUET FLOORS, BASEMENT & GARAGE.

WALK TO ALL STORES,BUSES, AND JUNIPER PARK.

ASKING $599,500

NO SIGNS...NO MLS...ONLY PRIVATE SHOWINGS
jamesturano
|
April 20, 2014
Sluggish in March? Not in Middle Village,NY 11379

Examples, home listed by park, in one evening 5 showings, three offers. House sold. address:64-22 78 street, middle Village.

I also sold a home on 77 street, within 72 hours.

Next I have a Home that will sell in less than 7 days to prove the stats on this story does not apply to Middle Village. I have 35 years experience as a Broker, and this market is HOT.

OPEN HOUSE: MONDAY, APRIL 21,ST. TIME 5P.M. TO 7P.M.

ADDRESS 61-19 79 STREET, MIDDLE VILLAGE NORTH, NY 11379

1 FAMILY 3 BEDROOMS...NEW HOT WATER TANK, NEW GAS HEATING UNIT, & 5 YEAR OLD ROOF

FRONT TERRACE, PARQUET FLOORS, BASEMENT & GARAGE.

WALK TO ALL STORES,BUSES, AND JUNIPER PARK.

ASKING $599,500

NO SIGNS...NO MLS...ONLY PRIVATE SHOWINGS