New - 2 days on Rocket
$9,025 Closing Credit¹
#RLS11031842, Michael Bethoney, Listing Office: Nest Seekers LLC
Long Island City Housing Market Report January 2025•Queens County, New York
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?
Seller'sMarket
Buyer'sMarket
Long Island City is a Seller's Market
Difference Since January 2024
At the same time last year, Long Island City was a Buyer's Market.
Insight
Long Island City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$1,085,000$1,294/SqFt
-$130,000
-10.7%
Based on all homes sold in the last 12 months
Insight
Homes in Long Island City have sold for 10.7% less than they did a year ago.
Summary: The median home sold price in Long Island City was $1,085,000 in January 2025, down 10.7% from last year, and the median price per square foot was $1,294.
Median Sold Price By City
| City | Jan 2024 | Jan 2025 | Change YoY |
|---|---|---|---|
| Sunnyside | $667K | $822.5K | +23.3% |
| Northwestern Queens | $650.3K | $781.8K | +20.2% |
| Astoria | $899K | $985K | +9.6% |
| Long Island City | $1.2M | $1.0M | -10.7% |
Median Sold Price By Bedrooms
| Beds | Jan 2024 | Jan 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $740K | $915K | +23.6% |
| 22 Bedrooms | $1.3M | $1.2M | -7.7% |
| 33 Bedrooms | $1.3M | $1.1M | -8.1% |
| 44 Bedrooms | $1.3M | $1.3M | +5.7% |
| 55+ Bedrooms | $1.4M | $1.5M | +3.4% |
Summary: Long Island City housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +23.6%. The home price for 2 bedroom homes decreased by -7.7%. The home price for 3 bedroom homes decreased by -8.1%. The home price for 4 bedroom homes increased by +5.7%. The home price for 5 bedroom homes increased by +3.4%.
Housing supply in Long Island City, NY
How many homes are available in Long Island City, NY?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 103Last MonthJan 2025 | ||
| 1102 months agoDec 2024 | -6.4 % Change MoMDec – Jan |
Summary: The Long Island City real estate market had 103 homes for sale in Jan 2025, a 6.4 % decrease compared to Dec 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 20Last MonthJan 2025 | ||
| 142 months agoDec 2024 | +42.9 % Change MoMDec – Jan |
Homes For Sale By Bedroom Count
| Beds | Dec 2024 | Jan 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 59 | 50 | -15.3% |
| 22 Bedrooms | 33 | 35 | +6.1% |
| 33 Bedrooms | 8 | 8 | 0.0% |
| 44 Bedrooms | 1 | 1 | 0.0% |
| 55+ Bedrooms | 9 | 9 | 0.0% |
Summary: Long Island City housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -15.3%. The inventory for 2 bedroom homes increased by +6.1%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.
Asking Price vs. Sold Price
How much do homes in Long Island City, NY cost?
Over Asking Price2 Homes
At Asking Price13 Homes
Under Asking Price5 Homes
Insight
If you're buying a home in Long Island City, expect to pay close to the asking price. 65% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in Long Island City in January 2025, up by 42.9% month-over-month. Of the 20 sold homes, 25% were sold under asking, 65% were sold at asking, and and 10% 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 Days1 Home
30 – 90 Days3 Homes
Over 90 Days2 Homes
Insight
Avg time on Rocket Homes in Long Island City has remained consistent over time.
Summary: During January 2025, 20 homes were sold in Long Island City; 5% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 71 DaysThis YearJan 2025 | ||
| 35 Days1 year agoJan 2024 | +98.6 % Change YoYJan 2024 – Jan 2025 |
Summary: Homes in Long Island City had an average listing age of 71 days in Jan 2025, up by 98.6% 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?
New - 3 days on Rocket
$10,000 Closing Credit¹
#RLS11031415, Yiming Wu, Listing Office: Sothebys International Realty
New - 3 days on Rocket
$8,538 Closing Credit¹
#RLS11031715, Michael Bethoney, Listing Office: Nest Seekers LLC
New - 3 days on Rocket
$10,000 Closing Credit¹
#RLS11031717, Michael Bethoney, Listing Office: Nest Seekers LLC
New - 3 days on Rocket
$10,000 Closing Credit¹
#819316, Listing Office: Compass Greater NY, LLC
New - 7 days on Rocket
#817413, Listing Office: Douglas Elliman Real Estate
$10,000 Closing Credit¹
#816767, Listing Office: Compass Greater NY LLC
$10,000 Closing Credit¹
#RLS11029586, Patrick Smith, Listing Office: Corcoran Group
$10,000 Closing Credit¹
#RLS11026485, Patrick Smith, Listing Office: Corcoran Group
$7,719 Closing Credit¹
#RLS11026591, Brian Chan, Listing Office: Serhant
$10,000 Closing Credit¹
#RLS11025657, Patrick Smith, Listing Office: Corcoran Group
$6,398 Closing Credit¹
#811690, Listing Office: Horowitz Real Estate
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MLS Disclaimers and Copyright
Based on information from Real Estate Board of New York, and OneKey MLS for the period 02/01/2023 - 02/01/2025
©2025 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services. Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.
This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
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: 2/2/2025, 6:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Listings courtesy of OneKey MLS as distributed by MLS GRID.All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.
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Information Copyright 2025, OneKey™ MLS. 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: 2/2/2025, 6:11:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.