Real estate market update – January 2024 vs. January 2023 📈

🔍 Let’s dive into the numbers! Something fascinating we observed: 663 new listings in Queens, a whopping 43% increase! Nearly 50% up from last year, and even more from the year before. Queens is showing some strong moves in inventory!

💪 📊 Pending sales are up by 20%, but closings are down by 9%. But hey, with the spring market kicking off and so many eager buyers out there, these numbers are bound to climb.

🌱 💵 The median sales price stands at $840K, down just 0.3% - a significant improvement from last month’s 2% drop. And with the Fed hinting at lower interest rates, we’re likely to see prices nudging upwards again.

📉📈 👀 Definitely an interesting market to watch. If you’re curious about how your neighborhood is doing, or have any questions, just hit me up!

📲 Let’s chat about what this means for you!