Queens Real Estate Market Report: Q2 2025, a real estate market report produced by the Queens Home Team at Keller Williams Realty Landmark II. Data updated quarterly. Need Help? Contact Us
Market Snapshot
Month’s supply ticked up again in Q2, rising to a level we haven’t seen in a quite a while, 9.9 months. This is indicative of a market that is currently favoring buyers. As is always the case, there are pockets of Queens that are in extreme buyer’s markets and there are pockets that are in extreme seller’s markets. All in all however, we have been seeing less buyer activity (i.e. slower demand) and rising inventory. The rising inventory can be attributed to seasonality given that we are in peak listing season, but there is also some demand destruction happening and that is likely also contributing. The lower demand may not be so much due to mortgage rates (because they haven’t changed much in the last year) but it may be related to consumer sentiment.
What we’ve seen over the last 3 months is fairly consistent with Q1, however, we did see more new listings hit the market. As for home sales, they were up slightly quarter over quarter and up slightly year over year. Days on market is down which means that well priced properties are still moving. Home prices are flat quarter over quarter but down about 4.5% year over year. New listings were up 13% quarter over quarter and up 4.2% year over year. Total active listings however, are actually up 2% quarter over quarter and up a significant 20% year over year. This lets us know that we definitely have more inventory on the market right now and that coupled with the lower sales is what has led to the increase in month’s supply.
Anecdotally, we have seen areas have big spikes in new listings over the last 30 days. For example, we just did a market update for a client in Middle Village and we noticed that 30 days ago there were 13 houses for sale, and right now there are 24. This is a big jump and this is happening in different areas across the borough. We’ll see what happens in Q3. If inventory continues to rise, and demand continues to be hindered, we may see the market shift more in favor of buyers. That means more opportunities to negotiate for buyers, and potentially longer days on market for sellers.
We’ll continue to watch the market and keep you posted on any new developments.
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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: 7,170
………. Average # of Homes selling each month: 719
………. Month’s Supply: 9.9
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Closed Home Sales
The One Key MLS reported a total of 2,190 closed home sales in the 2nd quarter of 2025. This was UP 3.2% from the previous quarter and UP 2.3% compared to the same quarter last year.
Free Home Valuation
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Median Home Price
As for Home Prices, the One Key MLS reported a median home price in Queens of $637,000 that’s up slightly from the previous quarter and DOWN 4.5% compared to the same quarter last year.
Mortgage Rates
Mortgage Rates Tick Higher, But Just Barely
Wed, Jul 23 2025, 3:22 PM
It’s been a pretty good run for mortgage rates since hitting their most recent highs last Tuesday. Each subsequent day saw a modest improvement. That winning streak finally ended today, but just barely. The average top tier 30yr fixed rate was only 0.01% higher compared to yesterday.
For all practical purposes, that means that rates have been flat soo far this week after starting out just a bit lower than last week. There haven’t been any major sources of motivation in terms of economic data. Headlines surrounding trade deals have made for some barely-noticeable reactions in the underlying bond market, but not big enough to have a more visible impact on rates.
Tomorrow brings the week’s most active slate of economic data even though the reports on tap are not remotely in the same league as several of next week’s key players. The implication is that volatility potential is slightly higher. But that’s not saying much considering the absence of any volatility so far this week.
New Listings
As for New Listings, the One Key MLS reported a total of 4,659 new listings in Q2 2025. That’s UP 13% from the previous quarter and UP 4.2% compared to the same quarter last year.
Active Listings
As for Active Listings, the One Key MLS reported a total of 7,170 active listings at the end of Q2 2025. This was UP 2% from the previous quarter and UP 20% compared to the same quarter of last year.
Queens Real Estate Market 2025, 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.