Sep. 19, 2023 By Ethan Marshall According to a report from NYC-based listing portal RentHop, Queens saw a large increase in rent prices of one-bedroom units over the course of the summer. This finding comes as demand for outer boroughs like Queens has increased and new developments are being put up there. RentHop’s report analyzed…
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Sep. 18, 2023 By Ethan Marshall The August 2023 rental market report from Douglas Elliman Real Estate showed that northwest Queens was experiencing new highs in average rent per square foot, average rental price and median rental prices. At the same time, lease signings continued to drop. Year-over-year, the median rental price rose 27.2%, to $3,900. This is also 31.8% higher than before the COVID-19 pandemic. The average rental price increased 27.3%, from $3,368 in Aug. 2022 to $4,287. The average rent price per square foot in northwestern Queens went up 23%, from $53.19 to $65.43. The net effective median…
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Sep. 14, 2023 By Calvin Yan Being a real estate agent in Queens brings new opportunities and challenges each day. As an agent with listings in the borough for the past several years, I have an inside look into this work and how the rental market functions. In an average day, I might have to show many apartments across all different parts of the borough and other boroughs, while also updating and promoting listings and responding to renters asking for time-sensitive information about available units. It isn’t just from 9 to 5 and includes late nights and weekends. And of…
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Sep. 13, 2023 By Ethan Marshall Little Neck resident and entrepreneur Billy Wu has recently begun operating a mobile Kitchen Tune-Up business specializing in updating kitchens and cabinetry for Queens residents. Wu said draws upon his past work experience to ensure the business is running smoothly. He previously spent 15 years working as an investment…
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Sep. 12, 2023 By Ethan Marshall According to a report put together by WalletHub, New York has experienced the fourth-highest increase in credit card debt among all states in the second quarter of 2023. This conclusion was reached based upon data recently released by the Federal Reserve, as well as data from TransUnion and the United States Census Bureau. The average credit card debt in the state of New York increased by $2,821,527,680 in the second quarter of 2023, ranking as the fourth-highest in the nation. Only California ($5,412,310,336), Texas ($3,944,711,993) and Florida ($3,087,038,580) experienced a larger increase. The total…
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Sep. 11, 2023 By Anthony Medina At the start of last year, the city adopted Local Law 18 into legislation, but the impact of the law wouldn’t shake-up the short-term rental market until earlier this month. According to the Office of Special Enforcement, the law requires short-term rental hosts to register their properties with the Mayor’s Office of Special Enforcement (OSE) and prohibits booking platforms from operating short-term rental units in what Airbnb calls a “de facto ban.” The short-term rental registration law directly impacts the popular booking service platforms including Airbnb, VRBO, Booking.com and similar known sites for booking…
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Sep. 6, 2023 By Ethan Marshall State Senator Leroy Comrie partnered with A&E Real Estate to host a free backpack giveaway outside his office on Farmers Boulevard in St. Albans Aug. 29. The giveaway came just as kids were preparing to go back to school. Each backpack handed out contained notebooks, pens and pencils. A&E…
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Sep. 5, 2023 By Ethan Marshall MNS Real Estate’s recently released rental report for the month of August in 2023 shows that the average rent price in Queens is still rising. According to the data collected, the average rent has risen 2.81% from July to August, from $2,735 to $2,811. Studio, one-bedroom and two-bedroom units…
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Sep. 5, 2023 By Ethan Marshall After analyzing data from Zillow that details the average time it takes to close a sale in each state, RubyHome Realty concluded that New York is the slowest state in which to sell realty. The compiled data determined that the nationwide average time it takes to close a sale is 33.5 days. According to the data for 2023, it takes an average of 59.83 days for homes in New York state to be sold. Despite this large average, it actually presents an improvement from the same time in 2022. Since last year, the average…
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Aug. 31, 2023 By Ethan Marshall The Queens neighborhoods of Ridgewood and Sunnyside were included among StreetEasy’s list of the eight best neighborhoods in New York City for cyclists. These neighborhoods’ inclusion on the list is based on a number of factors. Along with the other areas of the city included on this list, Ridgewood…
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