Northwest Queens Condo Market Sees Bump in Last Quarter of 2020: Report

January 28, 2021
Published in QNS
Long Island City, home to the most expensive real estate market in Queens, saw a boost in its condo market during the fourth quarter of last year, according to a report by real estate firm Modern Spaces. The number of closed units in the neighborhood were up around 20 percent in the last couple months of the 2020, the report said. Additionally, the sales volume of units in Long Island City returned to pre-pandemic levels in the fourth quarter, according to Modern Spaces. Neighboring Astoria’s condo market also saw a large increase in the pricing. The average price per foot of condo units rose 42 percent in the fourth quarter, the report said, adding that the Astoria condo market is one of the hottest in New York City.
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