Fourth Quarter Report Reveals Strong and Growing Sales Numbers in Jackson Heights

by Emily Nonko

02/14/2014 3 minute 1

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Daniel Karatzas at Beaudoin Realty Group released a wealth of numbers regarding the fourth quarter of 2013 in Jackson Heights, specifically within the 11372 zip code. After a slow year in 2012, sales picked up dramatically in 2013: according to the numbers, “Apartment sales rose dramatically, to 429, up 50 percent from 2012. The trend increased quarter by quarter, and fourth quarter 2013 sales were the highest in over seven years.” Average sales price increases were more moderate, without rising more than 11 percent in any category.

In the fourth quarter, 15 homes sold, up from 13 sales one year ago. Average prices for one-family homes rose 40 percent versus the year-ago quarter. 153 apartments sold, which is more than double the 77 sales in the same quarter last year. In fact, this number is the highest quarterly total since 2006. Co-op sales in particular saw a boost, with six-room units at Hawthorne Court passing the $700,000 mark for the first time ever. Seven room units at The Towers and The Chateau, less renovated, sold just under $700,000.

Click through for an impressive array of graphs, which analyze sales inside and outside the historic district, changes in average sales prices from quarter to quarter, and five-year sales trends.

Note: The historic district premium for one-family homes is roughly 15 percent.

Note: The premium for a prewar co-op in the historic district ranges from 6 to 40 percent, averaging roughly around 25 percent. In particular, prices at the 1920s-era garden apartments have risen steadily since 2003.

Note: Postwar co-ops in the historic district sell at a small premium, given that there are far fewer postwar co-ops within the historic district than outside it.

Note: While there is little difference between price inside and outside the historic district, prices outside the HD rose in 2012 with a newly constructed building on 93rd Street.