Apartment Prices Up, Transaction Volume Down in Jackson Heights for First Quarter of 2014

Daniel Karatzas of Beaudoin Realty Group released first quarter numbers for sales this year in Jackson Heights. Compared with the fourth quarter of 2013 (a very strong quarter), the volume of transactions dropped. Only four houses closed in the first quarter, down about 70 percent from the prior and year-ago period. The average sales prices were down for one- and three-family houses, but up 27 percent for two-family homes. However, with such low sales numbers for the quarter, it’s hard to make big judgments regarding the changes in prices.

Apartment sales numbers look stronger, with 84 total transactions for the quarter. The number is 45 percent below the fourth quarter (when 152 units sold) but up 18 percent over the year ago period. Sales increased in all categories (prewar walkup co-ops, prewar elevator co-ops, postwar elevator co-ops and condos) except condos. And the average sales prices were generally up this quarter, rising 1 percent for postwar co-ops and 19 percent for prewar walkup co-ops. Check out a ton of graphs analyzing the changes in sales price and volume after the jump.

Fourth Quarter Report Reveals Strong and Growing Sales Numbers in Jackson Heights [Q’Stoner]