Last Updated on July 24, 2025
Queens Real Estate Market Report: Q3 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
Q3 is in the books, and we are now entering the last quarter/leg of the year. This last quarter will tell us a lot about what the local housing market will look like next year so it’s important to analyze the Q3 numbers and draw our best conclusions as to what we can expect moving forward. That said, Q3 continued the patterns that we’ve been seeing all year, less sales, higher prices, growing inventory, and continually elevated mortgage rates. Here’s a breakdown of the most recent quarter.
Home sales were flat quarter over quarter and down a modest 0.7% year over year. As for home prices, they continued to rise in the 3rd quarter of the year showing a 3.5% increase quarter over quarter, but a slight decline of 0.7% year over year. As for new listings, Q3 brought in a total of 4,467 new residential listings to the market. That’s down 6.3% quarter over quarter but up 11.1% year over year. Active listings similarly were down 2.4% quarter over quarter but up 11.9% year over year. So all in all, inventory has been up this year, and it looks like we will likely finish the year with more inventory than last year.
Lastly, when it comes to mortgage rates, they have seen a slow and steady decline through the first 9 months of the year. For example, in early January rates for a 30 year fixed rate mortgage were about 7.1%, and right now they are hovering around 6.3%. With multiple rate cuts projected rate in 2026, we are anticipating that mortgage rates will continue a slow and steady decline over the next quarter and year. In the industry, many agents feel that once rates reach the low-mid 5’s, then a lot of demand will be unlocked.
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: 7,205
………. Average # of Homes selling each month: 760
………. Month’s Supply: 9.5
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Closed Home Sales
The One Key MLS reported a total of 2,278 closed home sales in the 3rd quarter of 2025. This was DOWN .1% from the previous quarter and DOWN .7% 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 $675,000 in the 3rd quarter of 2025. That’s UP 3.5% from the previous quarter and DOWN .7% compared to the same quarter last year.
Mortgage Rates
Mortgage Rates Lowest Since Fed Day
Mortgage rates saw their biggest day-over-day decline of the past several weeks today in response to unexpected news regarding additional tariffs on China. Trump had previously been scheduled to meet with China’s President Xi in 2 weeks, but today said there was no reason to do so and that the administration is currently calculating a massive increase in Chinese tariffs.
Stocks and bonds immediately responded with the former moving lower and bonds rallying. When bonds rally, interest rates move lower, all else equal. Mortgage lenders use mortgage-backed securities (MBS) to determine what rates they can offer. When bonds move enough during the course of a day, mortgage lenders can reissue higher/lower mortgage rates. Today’s big mid-day rally is resulting in fairly widespread improvements.
The net effect is an average 30yr fixed rate that is now as low as it’s been since the September 17th Fed meeting. For context, today’s rates are only a hair lower than October 3rd. (view article)
New Listings
As for New Listings, the One Key MLS reported a total of 4,467 new listings in the 3rd quarter 2025. That’s DOWN 6.3% from the previous quarter and UP 11.1% compared to the same quarter last year.
Active Listings
As for Active Listings, the One Key MLS reported a total of 7,205 active listings at the end of the 3rd quarter 2025. This was DOWN 2.4% from the previous quarter and UP 11.9% 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.