Forget Manhattan & Brooklyn, Queens Is The Up-And-Coming Neighborhood
City real estate is hot, but the hottest properties are not in Midtown Manhattan and Brooklyn — neighborhoods that normally heat the sector.
Many young professionals, with prime earnings years ahead of them, are moving to upper Manhattan and nabes in Queens.
The hot metro-area neighborhoods for these up-and-comers are Manhattan’s central Harlem and Lincoln Center, along with Astoria and Middle Village in Queens, according to a study conducted by a real-estate Web site.
These areas have many people checking out properties, and the properties are turning over at a faster pace and at higher prices than in the rest of the region.
“Each locale on this list is emblematic of the key trends driving housing this year — healthy local economics, job opportunities and affordability,” said Jonathan Smoke, chief economist for Realtor.com, which conducted the study.
He says these communities are attracting those with substantial household incomes, often $100,000 or more. Those moving there value demographic diversity as well as reasonable prices.
“For first-time homebuyers,” Smoke said, “these communities provide great opportunities to enter the housing market, build a career, and raise a family; older generations are able to build wealth and enjoy a variety of lifestyles.”
- Middle Village, Queens: Some 269 average listing views per month. That’s 2.1 times the market average. Properties listed 48 days on the market, or 28 days fewer than the market average. Median price $658,000.
- Astoria, Queens: 365 average views per month. That’s 2.8 times the market average. 63 days for the average property to be sold, 13 days faster than the market average. Median price $374,000.
- Central Harlem: 245 average views per month, 1.9 times the market average. Number of days a property is listed is 65, or 11 days fewer than the market average. Median price $990,000.
- Lincoln Square: 189 average views per month, 1.5 times the market average. Number of days a property is listed is 55 days , which is 21 days f ewer than the market average. Median price $1.85 million.
Via NYPost | Lead Photo: Tamara Beckwith