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Home Prices in the 11414 zip code of Queens

The data below shows median sales prices for Queens homes, co-ops and condos in the 11414 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 11414 zip code was $205,000¹. 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 11414 zip code

Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 13.87% lower.

The quarterly rolling median price for all homes and apartments in 11414 reached its most recent peak of $502,993 in February 2006. At $205,000, the current quarterly rolling median price is now 59.24% lower. When the quarterly rolling median price hit its lowest point (to date) of $150,000 in March 2010 it was 70.18% off the most recent peak. It has since climbed 36.67% 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 11414 zip code

The 12 month rolling median price for all homes and apartments in 11414 reached its most recent peak of $320,000 in November 2006. At $195,000, the current 12 month rolling median price is now 39.06% lower. This is the lowest value for the 12 month rolling median price since the November 2006 peak.

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 11414 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 11414 in all of 2007.