Warburg’s Monthly Market Update offers a quick snapshot of the active listings metrics compared to the recent historical performance of the target area. This month we focus on Long Island City’s performance through 2018 compared to the currently available inventory in the neighborhood. Read on for more!
Price Segment Performance
Thus far, in 2018, there have been 80 closed sales transactions in the Long Island City area. Of these, over 75% were priced below $1 million, 24% priced between $1 million – $3 million, and 1% priced between $3 million – $8 million. The RLS reports 21 currently active listings on the market, of which 43% are listed below $1 million, 48% are listed between $1 & $3 million, and 10% are listed between $3 – $8 million.
PRICE TYPE PERFORMANCE
The median closed sales price in 2018 to-date is $622,000 for condos and $346,000 for co-ops versus $1.30 million for townhouses.