Property prices for sale in Long Island City (New York)

The prices in real estate in Long Island City, in the New York region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.

Average price last 6 months
Price/sq.feet last 6 months
Average price per sq.feet

The price per sq.feet in Long Island City has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $1,054. In November this price pretty much remained the same at a value of $1,063 per sq.feet. The price for the following two months in (December, January) had a considerable decrease of 51 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 71 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $796.75 to $563 during February, and March.

Average price

Based upon to the price in Long Island City (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $1,030,364. In November This price remains at $1,048,219. During the following two months (December, January) the average price had a considerable reduction of 76 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $916,655.25 to $754,630.5, which means a 82 % fall.

Average price per bedrooms

The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $726,599 they are 29 % more affordable than the average price for Long Island City. The properties with the highest average price have 4 bedrooms, Their price is 16 % more costly than the average. After that we have properties with 2 bedrooms priced at $745,333.

With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $549 / sq.feet, with an average $543 / sq.feet price in Long Island City. The properties with the highest average prices have 1 bedroom. They are 65 % more expensive than the average followed by properties with 2 bedrooms with a price at $828 / sq.feet.

Price per property type

The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $726,599 it is 61 % cheaper than the average price in Long Island City. "House" is seen as the second most affordable property type. The dearest property type is "Detached House" followed by "Condo". At a price of $777,500 it is 27 % more expensive than the average price.

According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $515 / sq.feet followed by "Detached House" priced at $856 / sq.feet. "Land" is the most costly type of property with a $44,483 / sq.feet cost followed by "Condo" with an average price of $894 / sq.feet.

Charts data
Average price March
Average price per sq.feet March
Number of properties used in Long Island City
Number of properties used in region New York
** Graph's data with null or zero value are due to there isn't enough data available to get a reliable value