You are reading

Prices for Jackson Heights and Elmhurst co-ops up more than 20 % from last year, according to real estate report

July 28, 2017 By Nathaly Pesantez

Jackson Heights and Elmhurst co-ops prices have gone up significantly in the last year, surpassing 20 percent on average, a recent real estate report reveals.

The average sale price was $341,000 in the second quarter of 2017, up 22 percent from average price of $279,000 in 2Q16, according to the latest Real Estate Board of New York (REBNY) Residential Sales Report. The median price paid for a Jackson Heights/Elmhurst coop during the most recent quarter was up 18 percent, to $300,000, from $255,000 for the same quarter last year.

Prices for one-to-3 family houses in Jackson Heights and Elmhurst were also up, but did not increase to the same degree as coops.

The median price paid for a one-to-three family home in 2Q17 was $790,000, up just 2 percent from $774,000 in 2Q16. The average price rose to $817,000, up 6 percent from $771,000.

The median and average sale price for condominiums in the area did not change over the past year.

Residential real estate prices were up throughout Queens in 2Q17, according to the report.  The average price for a home in Queens (one-to-3 family houses, condos, coops) jumped 9 percent from the year prior, with the average price at $561,000 in the second quarter of 2017, up from $514,000 for 2Q16.

The number of sales that took place in Queens during the quarter was also up, with 3,984 homes sold (one-to-3 family houses, condos, coops), a 17 percent rise from 3,395 in 2Q16, according to the REBNY.

The full report can be accessed here

email the author: [email protected]


Click for Comments 
Allison Pennell

I fell in love with Jackson Heights while helping a buyer find an apartment in the neighborhood. She just closed at Linden Court. Compared to Brownstone Brooklyn or the Upper West Side, Jackson Heights is so much more affordable, apartments are of a similar stock of prewar grandeur and the gardens are amazing. You can get so much more for much less. Jackson Heights is going to keep on going up, which I’m sure is a blessing and a curse for residents.


Prices escalate because the ,our government allowed the safeguards keeping rents affordable to expire. Now only the wealthy can afford a place to live. Shelters are seeing many more people that need a bed & a small locker. These very greedy individuals that keep playing games with purchasing homes are in for a shock as upward rents rarely come down as their games expire also.


The developments in Flushing and Long Island City is bring up the real estate value of all other real estate properties in Queens c


The real estates are the most thieves, I wanted to buy a house and unfortunately the owner gave authority to a real state and they put $ 100,000 thousand more than the owner asked ????


Buy it anyway. If it’s what you want what’s another $400 a month. You can drive a taxi to make up the 400. Man some people.


They make money for them to have a nice house when they leave the country and the rest have to struggle because of their numbers……

Gloria Soria

This is true
When people with Cash, Like happenned in these neignorhood,no mortgages involved,prices went up


That’s because most of the real estate agents in the area, specially those of South Asian descent, artificially inflate the price of properties. I have seen countless examples where two agents get together and sell the same house back and forth to each other, hiking up the price each time. When they can’t milk the properties anymore, they then sell it. It makes complete sense that prices would go up 20% in one year. These agents are the ones reaping all the benefits!


Prices go up because of supply and demand…The more people want to live in Jackson Heights the higher prices will go


Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Romanian nationals busted for ATM skimming scheme that involved more than 600 Queens residents: Feds

The NYPD and federal agents arrested five Romanian nationals living in Queens on Thursday for engaging in a sophisticated ATM skimming operation that involved the theft of bank account information and PIN numbers from more than 600 unsuspecting bank customers from across the borough.

The five men were named in an indictment that was unsealed in Brooklyn federal court charging them with fraud and aggravated identity theft following a long-term investigation by the NYPD, FBI and the Secret Service.

3 men sought for armed robbery in East Elmhurst home invasion near LaGuardia Airport: NYPD

The NYPD is looking for three men who allegedly robbed an East Elmhurst man of tens of thousands of dollars during a home invasion early Monday morning.

Police from the 115th Precinct in Jackson Heights responded to a 911 call of an armed robbery at a townhouse located at 108-09 Ditmars Blvd. near 29th Avenue just south of LaGuardia Airport.
The victim had pulled up in front of his home just before 2 a.m. when he was approached by three suspects. One of them pulled out a firearm and forced him inside the townhouse where they stole around $30,000 in cash and a safe that contained an unspecified amount of jewelry, before exiting and driving off in a silver four-door SUV, police said.

Corona man criminally charged with sex trafficking for forcing Mexican woman into prostitution: DA

A Corona man has been indicted on sex trafficking charges for allegedly forcing a Mexican woman to engage in prostitution over a three-year period, Queens District Attorney Melinda Katz announced Wednesday.

Galindo Capultitla, 39, of 40th Road, was arraigned Tuesday before Queens Supreme Court Justice Peter Vallone Jr. on a seven-count indictment charging him with three counts of sex trafficking and other crimes for forcing the victim to engage in sex for money in Mexico and the United States, including in Queens. During the victim’s three-year ordeal, Capultitla allegedly hit and choked her—and even threatened to kill her family in Mexico—if she failed to hand over the money gained through sex.