Queens Real Estate Market Report: Q2 2026

Queens NY Real Estate Market Report: Q2 2026. Real estate market report produced by the Queens Home Team at Keller Williams Realty Landmark II. Need Help? Contact Us 718-968-5538

Market Snapshot

It’s mid-Summer and we are officially halfway through the year. The weather has been hot, but we can’t say the same for the local housing market. For most of 2025 the market felt sluggish but steady. Good properties were still selling and the buyer demand felt pretty strong, all things considered. This year we have felt more softening in the market with some good properties taking longer to sell than we normally see. There also appears to be slightly less buyer demand, and/or they are being a lot pickier. It’s no secret that housing affordability has continued to be a challenge for Queens home buyers and this may explain the drop in sales as well as the rising inventory which we’ve been seeing for the first two quarters of 2026. Mortgage rates remain elevated (at around 6.76% for 30 year fixed) so that is not helping. All in all, the market has been soft and we do not anticipate any significant changes until we see lower mortgage rates, more inventory, and/or lower home prices.

With all that said, below is our market report for the 2nd quarter of 2026. In short, closed sales were down 8.4% year over year and up 0.4% quarter over quarter. The median price in Queens was up 2% year over year and down 3.1% quarter over quarter. New listings were up 4.2% year over year and up 15.2% quarter over quarter. Active listings were up 0.4% year over year and up 4% quarter over quarter. As for month’s supply, right now we have about 700 properties selling each month in Queens, and we have about 7,486 available homes for sale. That gives us a total month’s supply of 10.9 months (7,486 / 700). This is indicative of a buyer’s market where supply outweighs demand. Keep in mind that this is for all Residential properties (1-3 fam, coop, condo) in Queens so it is a broad assessment. Real estate is local so if you’re curious what the month’s supply is in your neighborhood, and for your property type, let us know.

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: 7,486 (Last year: 7,170)

………. Average # of Homes selling each month: 700 (Last year: 719)

………. Month’s Supply: 10.7 (Last year: 9.9)

……….. Market in favor of: Buyers

Closed Home Sales

The One Key MLS reported a total of 2,103 closed home sales in the 2nd quarter of 2026. This was UP 4% from last quarter and DOWN 8.4% compared to the same quarter last year.

Median Home Price

As for Home Prices, the One Key MLS reported a median home price in Queens of $664,000 in the 2nd quarter of 2026. That’s DOWN 3.1% from last quarter and UP 2% compared to the same quarter last year.

Mortgage Rates

Mortgage Rates Roughly Unchanged Versus Friday’s Lows

Mon, Jul 27 2026, 2:44 PM

After bottoming out around 6.5% in late June, mortgage rates moved steadily higher this month, ultimately hitting 6.85% last Thursday–the highest level in over a year. There was a modest recovery on Friday with a fair amount of intraday changes from the average mortgage lender. 

Because rates are based on bonds, it’s worth noting that bonds are in better shape today compared to Friday’s latest levels. But if we use Friday’s stronger mid-day levels as a baseline, bonds are just barely stronger. As such, it’s no surprise to see mortgage rates just barely lower.

The key consideration for the bond market over the weekend was the announcement of a pause in the fighting in Iran. This helped oil prices move lower, thus lowering inflation implications and bond yields. This is the financial market’s way of saying interest rates can also come down. 

The caveat is of course that a resurgence of fighting in Iran could cause oil and inflation expectations to rise again, thus putting renewed pressure on rates. In addition, Wednesday’s Fed announcement is also a potential source of volatility. The Fed is not expected to hike or cut, but the market is less convicted than normal about the Fed’s likely course of action. That means the result will be somewhat surprising to a larger share of the market than normal, and that’s a recipe for volatility. (view article)

New Listings

As for New Listings, the One Key MLS reported a total of 4,968 new listings in the 2nd quarter 2026. That’s UP 15.2% from last 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 7,486 active listings at the end of the 2nd quarter 2026. This was UP 4% from last quarter and UP 0.4% compared to the same quarter last year.

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.