Are You Living In One Of The Five Most Affordable Neighborhoods In Queens?
Home sale prices have increased across the city, according to a local real estate marketplace. However, the housing stock is high and prices are still low in five Queens neighborhoods that are perfect for anyone looking for a new place to call home.
According to real estate website StreetEasy, Forest Hills, Woodside, Sunnyside, Jackson Heights and Kew Gardens are the most affordable areas with the most potential in Queens right now.
A mix of single-family homes and multi-bedroom apartments are aplenty in Forest Hills, StreetEasy reports. And, with a median sale price 33 percent below the Queens average, it remains affordable. The family-friendly neighborhood is home to a number of great eateries, shops and nearby transportation options including subway stations, bus stops and the Long Island Rail Road. Prices are growing steadily in the neighborhood, according to the real estate site, so it is better to make the move sooner than later.
Woodside is a great place for young buyers, with prices clocking in at 35 percent below the borough-wide average and new inventory up 35 percent from last year. The neighborhood features a number of transportation options and bars and eateries. New places to live tend to be concentrated in larger complexes here.
Housing stock in Sunnyside goes for about half as much as in nearby up-and-coming Long Island City and features many of the same great transportation and dining options. With average time on the market coming in at 42 days, buyers are eager to claim the neighborhood’s affordable inventory.
Jackson Heights — though the most expensive neighborhood on the list at a median resale price of $445,000 — is still a viable option for Queens buyers. Homes in this northwestern Queens neighborhood sold faster than any other neighborhood in Queens, according to StreetEasy, and the area has seen a 30 percent increase in new inventory since last year. Still, the diverse central Queens neighborhood is 12 percent less expensive than the Queens average.
Kew Gardens, the least expensive neighborhood on the roundup, has homes going for a median resale price 81 percent below the Queens average. With a solid inventory increase and price growth beginning to take off, the real estate site said, settling in the area now would be a worthwhile investment.
StreetEasy provides those shopping for real estate in New York City accurate and comprehensive for-sale and for-rent listings through its search engine and website.
Courtesy of Qns.com