The data for my Jackson Heights Real Estate Report is sourced from the New York City Department of Finance’s “Rolling Sales Update.”  This update lists, by zip code, all of the real estate closings that have taken place in New York City.   This is the same public record that many services and websites use to tally closings and sales prices.

 

My report focuses on the 11372 zip code that covers Jackson Heights from Roosevelt Avenue on the south to Northern Boulevard on the north, and from Junction Boulevard on the east to the Brooklyn-Queens Expressway on the west.  I have taken the data the City provides - as far back as 2003 - and analyzed it in the following categories:

 

Houses       

• One-Family Houses
• Two-Family Houses
• Three-Family Houses
• Total Houses

 

Apartments   

• Prewar Cooperatives in Walkup Buildings
• Prewar Cooperatives in Elevator Buildings
• Postwar Cooperatives in Elevator Buildings
• Condominiums
• Total Apartments

 

The data is compiled by calendar quarter.  For each category, my report provides

 

• Total number of closed transactions
• Total sales volume in dollars
• Average sales price 

 

Each quarterly report  is comprised of three sections.  The first section is comprised of a tabular comparison of the current quarter with the year-ago quarter as well as the prior quarter, along with current year-to-date results with last year’s year-to-date results.  An analysis of what the results are telling us about local market conditions accompanies this section. The second section provides an in-depth analysis of the sales of apartments in the original garden cooperatives built by the Queensboro Corporation in the 1910s and 1920s. 

 

The third section is a detailed graphical representation of both quarterly and long-term trends for both houses and apartments.  I also compare the average sales prices of houses and apartments within the Jackson Heights Historic District to those outside it.  There is an analysis of the premium paid for condominiums compared to cooperative apartments.

 

The “Rolling Sales Update” includes transactions where the sales price is listed as $0.  These transactions have been removed from my database and are not included in the report.  In addition, there are a small number of transactions where the closing prices are significantly below prevailing market prices.  These transactions have also been removed from my database.  And, finally, I have defined “prewar” as buildings completed prior to 1946.

 

Copyright 2024   Daniel Karatzas

Any reproduction or use of this  report must be approved,

in advance, by its author

 

 

 

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