Queens Tribune
 
....July 23, 12:22 PM
 
Good New$ For Homeowners

By Lori Gross

Median home sale prices were up 7.1 percent from the same quarter last year in Central Queens according to a market survey issued by Prudential Douglas Elliman Real Estate.

Homes in the Central neighborhoods of Bellerose, Briarwood, Floral Park, Forest Hills, Fresh Meadows, Glen Oaks, Hillcrest, Hollis Hills, Holliswood, Jamaica Estates, Jamaica Hills, Kew Gardens, Queens Village, and Rego Park defied the borough-wide trend, which has prices down 11.5 percent since the same period last year.

The number of sales in Central Queens dropped sharply to 402 from 798 last year. The median price was $329,950, up from $308,000. Market share fell to 18.9 percent of all sales in Queens from 20.6 percent last year.

Prudential reported that while the average price of a home in Queens has gone down, the number of home sales in the borough as a whole has risen, “reflecting a release of pent-up demand from the limited activity in late 2008 and early 2009.”

The influx of home purchases might be partly due to an $8,000 first-time homebuyer tax credit for announced in May for homes purchased between April, 2008 and December 1, 2009.

Reach Reporter Lori Gross at lgross@queenstribune.com, or by calling (718) 357-7400, Ext. 124