clock menu more-arrow no yes mobile

Filed under:

These are the NYC neighborhoods where homes are selling fastest

New, 5 comments

Plus, delays in rebuilding NYCHA complexes seven years after Hurricane Sandy—and more intel in today’s New York Minute news roundup

A view of the Midtown Manhattan skyline.
Max Touhey |

Good morning, and welcome to New York Minute, a new roundup of the New York City news you need to know about today. Send stories you think should be included to

Where homes are selling fast, and where they’re lingering on the market, in NYC

Last month, we found out that NYC apartment prices hit a four-year low in the third quarter of the year, and that sales also took a dip. The slump in sales has caused an increase in home inventory, all while more than 25 percent of condos built in the past six years remain unsold. Now, a new StreetEasy study found that NYC homes have lingered on the market for a median 83 days in the third quarter of 2019—the longest average since 2012. But where, exactly, is this happening?

The StreetEasy report highlights neighborhoods—typically more affordable ones—where homes are selling fastest. During the third quarter of the year, homes in southern Queens, including neighborhoods like Jamaica, Ozone Park, and Richmond Hill, spent the least time on the market: a median of 60 days. This is one of the most affordable areas in the city, with a median recorded sales price of $545,000 in the third quarter, according to StreetEasy.

Other areas where homes are selling fast include northwest Brooklyn (Dumbo, Brooklyn Heights, Cobble Hill, Fort Greene) and northwest Queens (Astoria, Long Island City, Sunnyside, Ditmars-Steinway).

Meanwhile, homes stay the longest on the market in Midtown, Manhattan, where they stay for a median 103 days. Unsurprisingly, all other areas where homes stayed on the market longest are in Manhattan, including the Upper East Side, Upper Manhattan, Downtown, and the Upper West Side.

And in other news...