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Home Prices in the 11101 zip code of Queens

The data below shows median sales prices for Queens homes, co-ops and condos in the 11101 zip code as determined from New York City property records in December 2010. For the 3 months ending December 2010, the median sales price for all homes and apartments in the 11101 zip code was $636,406¹. A history of quarterly median sales prices is below. For a less volatile look at pricing, see the 12 month rolling median price data. Affordability based on income and recorded home sales is also calculated.

Quarterly Rolling Home Price History for the 11101 zip code

Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 7.28% higher.

The quarterly rolling median price for all homes and apartments in 11101 reached its most recent peak of $834,965 in November 2007. At $636,406, the current quarterly rolling median price is now 23.78% lower. When the quarterly rolling median price hit its lowest point (to date) of $534,066 in June 2008 it was 36.04% off the most recent peak. It has since climbed 19.16% from that post peak low.

Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

History of Quarterly Rolling Median Sales Prices for the Last Year

12 Month Rolling Home Price History for the 11101 zip code

The 12 month rolling median price for all homes and apartments in 11101 reached its most recent peak of $691,392 in March 2008. At $584,332, the current 12 month rolling median price is now 15.48% lower. When the 12 month rolling median price hit its lowest point (to date) of $571,207 in February 2010 it was 17.38% off the most recent peak. It has since climbed 2.30% from that post peak low.

12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

History of Rolling Median Sales Prices for the Last Year

Home Affordability in the 11101 zip code

In 2007, the median household income in Queens was $52,299². Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median Queens household, this would have meant that a monthly mortgage payment should not have exceeded $1,307 using the 2007 average mortgage rate of 6.34%³. Combining this with 2007 property sales records, we can calculate that the median income household could have potentially afforded approximately 19.01% of the homes and apartments sold in 11101 in all of 2007.