Real estate trends in Queens
Real estate trends in Queens, as well as anywhere else in the world, come and go. And, most of the time, it is really hard to keep up with all the changes on the market. But, as Queens is one of the most popular places to live in New York right now, it is normal to see those changes. So, if you were planning on settling in in this borough, then keep on reading. We will share some of the most important facts about the real estate trends in Queens today.
The Prices Are Rising
For those people moving out of Little Neck, Queens who are trying to sell their property, this is great news. But, for homebuyers, no really. During the last two years, from 2017 to 2018, the prices of houses and apartments rose up to 10%. And, they will keep rising in 2019 and 2020. However, that did not stop homebuyers at all. According to recent research, moving agencies and real estate agents had worked more than ever despite the rising prices.
If you plan on purchasing a home in Queens this year, prepare a lot of money.
Who Are the Buyers?
Well, it will come as no surprise that the biggest number of homebuyers are Millenials. Most of them wanted to experience all the glamour of living in New York, and Queens was the borough for that. So, as most millennials now have stable jobs and are starting a family, you will see many people now looking to find a permanent home in some of the Queens’ middle and upper-middle-class neighborhoods. That is why, if you plan on buying a home in Queens, do it fast, as they go quickly. Do your research on real estate trends in Queens, prepare your money and do not wait much. Then, all that is left is to get movers to help you settle down in Sunnyside, or anywhere else in Queens.
Renting in Queens
We must mention that Queens is a borough occupied by families the most. You will see family homes here more than anywhere else in the entire state of New York. Yes, there are apartments for rent too, used mostly by the people commuting to Manhattan, but they are really expensive. This is why renting in Queens is not that common. If you really want to live here, it would be better to get a mortgage and buy a house or apartment.
Do your research on real estate trends in Queens before you decide to rent or buy a property.
Selling the Property in Queens
As previously mentioned, according to the real estate trends in Queens, the prices of houses and apartments are on the rise. So, if you were wondering when is the right time to sell your property, the answer is now! But, before you do, make sure to renovate and remodel. You will be surprised at how much some simple renovations can increase the value of your property. Believe it or not, but people are more willing to live in homes that are smaller but in great shape than vice versa.