Long Island City Housing Market Report February 2025•Queens County, New York

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Housing Prices in Long Island City, NY

How much do homes in Long Island City, NY cost?

Housing Market Conditions

Is Long Island City, NY a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Long Island City is a Buyer's Market

Difference Since February 2024

Since last year, Long Island City has remained a Buyer's Market.

Insight

Long Island City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$1,059,500$1,292/SqFt
-$193,397
-15.4%

Based on all homes sold in the last 12 months

Insight

Homes in Long Island City have sold for 15.4% less than they did a year ago.

Summary: The median home sold price in Long Island City was $1,059,500 in February 2025, down 15.4% from last year, and the median price per square foot was $1,292.

Median Sold Price By Neighborhoods

Median Sold Price By Neighborhoods
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Sunnyside
+19.7%
Northwestern Queens
+17.6%
Long Island City
-15.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$800K$905K
+13.1%
2$1.3M$1.2M
-8.4%
3$1.3M$1.1M
-8.4%
4$1.3M$1.3M
+5.7%
5$1.4M$1.5M
+5.2%

Summary: Long Island City housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +13.1%. The home price for 2 bedroom homes decreased by -8.4%. The home price for 3 bedroom homes decreased by -8.4%. The home price for 4 bedroom homes increased by +5.7%. The home price for 5 bedroom homes increased by +5.2%.

How does Long Island City, NY compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Long Island City, NY

Housing supply in Long Island City, NY

How many homes are available in Long Island City, NY?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
104Last MonthFeb 2025
1132 months agoJan 2025
-8.0 %
Change MoMJan – Feb

Summary: The Long Island City real estate market had 104 homes for sale in Feb 2025, a 8.0 % decrease compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
13Last MonthFeb 2025
212 months agoJan 2025
-38.1 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
15754
-5.3%
23634
-5.6%
386
-25.0%
412
+100.0%
5118
-27.3%

Summary: Long Island City housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -5.3%. The inventory for 2 bedroom homes decreased by -5.6%. The inventory for 3 bedroom homes decreased by -25.0%. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes decreased by -27.3%.

Asking Price vs. Sold Price

How much do homes in Long Island City, NY cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price9 Homes

Under Asking Price3 Homes

Insight

If you're buying a home in Long Island City, expect to pay close to the asking price. 69.2% of homes here sold near the asking price last month.

Summary: A total of 13 homes were sold or pending in Long Island City in February 2025, down by 38.1% month-over-month. Of the 13 sold homes, 23% were sold under asking, 69% were sold at asking, and and 8% were sold over asking.

Days on Market for Long Island City, NY

How long does it take to sell a home in Long Island City, NY?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days3 Homes

Over 90 Days5 Homes

Insight

Most homes in Long Island City are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2025, 13 homes were sold in Long Island City; 0% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
105 DaysThis YearFeb 2025
74 Days1 year agoFeb 2024
+42.6 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Long Island City had an average listing age of 105 days in Feb 2025, up by 42.6% compared to the previous year.

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Newest Listings in Long Island City, NY

What homes are available in Long Island City, NY?

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Based on information from Real Estate Board of New York, OneKey MLS, and Brooklyn MLS for the period 03/01/2023 - 03/01/2025

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

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Last updated on: 3/14/2025, 12:55:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 3/13/2025, 11:56:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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The accuracy of all information, regardless of source, including but not limited to open house information, square footage and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Brooklyn Multiple Listing Service and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited.

Copyright © 2025 Brooklyn Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 3/14/2025, 12:55:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.