Current Market Updates

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The summer market is in full swing, and each borough is telling its own story. From steady Staten Island sales to record-setting Queens development, here’s your quick look at what’s happening right now in Staten Island, Queens, Brooklyn, and Long Island.

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🗽 Staten Island

• Median sale price: $714K (+2.4% YoY)

• Price per sq. ft.: $448 (+6.5% YoY)

• Average days on market: 56

• Average rent: $2,612 (+7.8% YoY)

• Inventory: Down slightly (–1.9% MoM), keeping the market balanced

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🌆 Queens

• Investment Surge: $1.72B in commercial sales in H1 2025 (+36% from late 2024)

• Forest Hills: Luxury condos topping $3M, single-family home prices easing slightly

• Long Island City:

• 1,800+ new units built in 2024

• 4,500+ units under construction

• The Orchard, a 69-story residential tower, has topped out with 824 units (200 affordable)

• Median home price in LIC: $1.07M

• Median rent in LIC: $4,350

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🏙 Brooklyn

• July contracts: 505 (–16.9% MoM, –8.8% YoY)

• Median PPSF: $1,118 (+9.2% MoM, +5% YoY)

• Listing discounts: Just 1.9% — showing sellers still have leverage

• High-demand neighborhoods like Park Slope, Williamsburg, and Downtown Brooklyn remain competitive

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🏖 Long Island

• 2Q 2025 Elliman report shows positive trends in sales activity and pricing momentum

• More data for late summer expected in upcoming reports

• Continued strong demand for well-priced homes, particularly in coastal communities

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Don’t forget! If you’re thinking about buying, selling, or investing, now is the time to explore your options while the summer market is still active. I’d be happy to provide a custom market analysis for your neighborhood.