Queens home prices rebounded in the second half of last year, but the recovery did not treat every neighborhood equally. The rebound was strong in the northeast and northwest sections of the borough, according to real estate consultant Miller Samuel Inc., while south Queens and Rockaway remained in free fall.
“The neighborhoods that have recovered faster are the more expensive neighborhoods in Queens,” said Jeff Silverbush, president of 21st Century Best, an Elmhurst based Realtor. “Buyers income levels are higher and they have a better chance at getting credit. Those neighborhoods are going to see recovery sooner than places like Jamaica or South Ozone Park.”
To view median home prices by Queens regions, check out the graphic below.
