Queens Real Estate Market Report: Q1 2026

Queens NY Real Estate Market Report: Q1 2026. Real estate market report produced by the Queens Home Team at Keller Williams Realty Landmark II. Need Help? Contact Us 718-968-5538

Last updated on 4/27/2026

Market Snapshot

Well, that’s it for the first quarter of 2026. As we head into the peak Spring season, it’s important to see what trends are in place and what we can expect from the local market over the next 3-6 months given all of the information we have right now. Overall the market has felt the same as it did last year. Mortgage rates have not shifted dramatically so that has remained the same. Inventory has also remained pretty low so not much has changed there.

In terms of closed sales, in the first quarter of this year sales were down 13.5% compared to the fourth quarter of 2025 and down 4.4% compared to the same quarter last year. As for home prices, in Q1 we saw the median home price in Queens rise 1.5% compared to the same quarter last year. New listings on the other hand, remained flat compared to last year, but actually spiked 22.6% from Q4 2025. We’ll see if that trend continues in the next three months, if for some reason we see a spike in inventory in the next quarter as well, that can shift the supply & demand dynamics significantly. When it comes to active listings, right now there are about 6,625 residential (1-3 fam, coop, condo) homes for sale in Queens. This is up 3.6% from last quarter and down 2.9% compared to the first quarter of 2025.

As for what we’re seeing personally, within the last few months the market has felt pretty much the same as it did last year. The market is still pretty active, and listings are still moving, but definitely not at a rapid pace. Move-in ready homes are still the most in demand properties and those are the ones that are selling fastest (as long as they’re priced well). Properties that need work, on the other hand, are having a harder time selling. We’ve actually even started seeing some neighborhoods with growing month’s supply so some areas are turning into buyer’s markets. The next few months will be interesting to see because in March we saw a spike in sellers wanting to put their homes on the market. If this is a market wide dynamic, then we may see a spike in inventory over the next few months.

We’ll continue to watch the market and keep you posted on any new developments.

Month’s Supply

What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 50 homes on the market and 10 homes selling each month, there is a 5 month supply of homes for sale.

Months of supply is a good indicator of whether a particular real estate market is favoring buyers or sellers. Typically, a market that favors sellers has less than 6 months of supply, while more than 6 months of supply indicates an excess of homes for sale that favors buyers.

Month’s Supply in Queens NY

………. # Homes currently Available for Sale: 6,625 (Last year: 6,808)

………. Average # of Homes selling each month: 679 (Last year: 724)

………. Month’s Supply: 9.8

……….. Market in favor of: Buyers

Closed Home Sales

The One Key MLS reported a total of 1,888 closed home sales in the 1st quarter of 2026. This was DOWN 13.5% from last quarter and DOWN 4.4% compared to the same quarter last year. If you look at the graph above, you can see that we have been moving sideways in terms of closed sales. And since December of last year, there appears to be a downward trend.

Median Home Price

As for Home Prices, the One Key MLS reported a median home price in Queens of $670,000 in the 1st quarter of 2026. That’s DOWN 13.5% from last quarter and UP 1.5% compared to the same quarter last year. If you look at the chart above, you can see that home prices have continued to be in an upward trend for most of the last year, however, in March we saw a pretty big dip in the median home price for Queens. We’ll continue watching to see if this is the beginning of a trend, or just a one month change.

Mortgage Rates

Rates End Week Close Enough to Recent Lows

Fri, Apr 24 2026, 3:31 PM

With zero change versus Thursday’s latest levels, the 30yr fixed mortgage rate index maintained a 0.03% range for the entire week (and 0.04% going back to last Tuesday). At 6.32%, today’s mark is close enough to Friday’s 6.29% to say rates are hovering at the lowest levels in more than a month.

The sideways drift reflects uncertainty surrounding the next phase in the Iran war. Prospects for negotiations were called into question for most of the week, but improved somewhat on Friday. A successful end to the war would likely bring some additional improvement for rates, but the true test would be the longer-term realities for oil prices and their impact on inflation.

The week ahead brings the next Fed announcement. Markets are pricing in a zero percent chance of a cut or a hike. The Fed’s rate cutting hands are tied until/unless inflation moves back down and they won’t preemptively assume that will happen until post-war oil price dynamics play out for a few months.

(view article)

New Listings

As for New Listings, the One Key MLS reported a total of 3,854 new listings in the 1st quarter 2026. That’s UP 22.6% from last quarter and UP 0.7% compared to the same quarter last year. If you look at the chart above, you can see that there has been a downward trend in new listings hitting the market over the last year, however, we had a big spike in March so we’ll see if that is the beginning of a new trend or not.

Active Listings

As for Active Listings, the One Key MLS reported a total of 6,625 active listings at the end of the 1st quarter 2026. This was UP 3.6% from last quarter and DOWN 2.9% compared to the same quarter last year. If you look at the chart above you can see that from September to February we have seen less and less inventory available for sale, however, March saw an uptick in active listings.

Queens Real Estate Market 2026, provided by the Queens Home Team at Keller Williams Realty Landmark II. Have a Question? Contact Us anytime.

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About Us

The Queens Home Team is a group of friendly, service driven real estate agents in Queens NY. Our team members are not only experts at what they do, but more importantly, they are driven by their desire to help people. The team approach is what truly separates us from the average Queens broker, because while most agents are one person doing several things, we have several agents doing one thing, and being great at it! This ensures expertise throughout all stages of the transaction and allows us to provide the superior level of service our clients deserve. We understand that real estate is a service industry, therefore we treat it as such. Rest assured that when you work with the Queens Home Team, you’ll be in good hands, with people who care 🙂

*The opinions expressed in This Queens Real Estate Market Report are intended to supplement opinions on real estate expressed by local and national media, local Queens real estate agents and other expert sources. You should not treat any opinion expressed on this report as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. The Queens Home Team at Keller Williams Realty Landmark II does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. The Queens Home Team will not be liable for any loss or damage caused by your reliance on information contained in this report.