5 Things To Know About The Current Real Estate Market In Queens NY

No matter what your involvement is in the real estate world, you need to know what is going on in your local market. Keep reading to learn more about what is happening now and what the experts are predicting to happen in the months ahead!

Whether you are buying or selling a house in Queens, it’s important that you know what is going on in the current real estate market. Below we take a look at some of the things going on the real estate world so you can determine what you want to do next. As always, reach out to us if you have any questions about buying or selling real estate in Queens or the surrounding areas.

queens NY real estate market

The Current Real Estate Market In Queens NY

What Is Happening Today

With an uncertain economy, both buyers and sellers have apprehension about the current state of affairs. While this may seem challenging, it can actually be beneficial as you will have less competition when looking to buy and when you want to sell. With fewer homes on the market, there will be more interest in yours. And with fewer people shopping, it can be easier to get your offer in the door without any contention from other buyers. Both buyers and sellers are finding great opportunities, despite the virus and unstable economy. In other words, it could be a great time to cash in. With fewer people in the market, both buyers and sellers can win if they play their cards right.

Interest rates are hitting all-time lows, however, lenders are tightening up on who is eligible for a loan. Current economic conditions pose a threat to lenders if their borrowers aren’t able to repay their loans. While the interest rates may motivate more people to want to buy, it doesn’t mean they will be able to get the financing to do so.

Predictions for The Future

Nobody can say exactly what will happen with the real estate market in Queens, but many experts are predicting a recession. This can actually have benefits if you position yourself correctly, educating yourself about the real estate market in Queens. For example, you may be able to buy low and sell higher at a later date. And if you want to sell your house right now in Queens, now may be the time to get the ball rolling before the downcycle really begins. At Leave The Key Homebuyers, we will buy your property outright in only a matter of days, saving you from the impending market fluctuations that will likely affect the value of your home. There are never any costs, fees, or surprises. Just a simple and straightforward transaction that can help homeowners sell their houses fast in Queens.

What You Can Do As A Home Seller

If you are ready to sell your home fast in Queens, you’ll want to look at all of the selling options available to you. To determine what will work best, ask yourself some questions such as…

  • How long are houses staying on the market in your neighborhood?
  • Are home sellers in Queens getting their asking price or are they having to lower their prices in order to get a sale?
  • What will it cost to successfully list your home on the Queens MLS after you have made repairs and fixed up the property?
  • Have you factored in the agent commissions and closing costs sellers face when selling in the traditional manner?
  • Do you have the time and money to wait or would you be better off selling your house right away?

If you are trying to sell your house in Queens sooner rather than later, hiring an agent and selling in the traditional manner may not be the right choice for you. For people who want to sell without any costs or waiting, working with a direct buyer will likely prove to be the best selling option. Run the numbers for your property and ask yourself the questions listed above.

We work with homeowners all over Queens to sell their house quickly and for a great price. Selling with our team is fast, easy, and straightforward. We pay cash for houses in Queens and can close when you’re ready.

Contact us today to learn how we can help you sell your house without the stress and hassle of listing. Leave The Key Homebuyers is the premier real estate solutions firm in Queens and we look forward to working with you to solve any real estate problem.

Do you want to learn more about the current real estate market in Queens? Reach out to us today to get the information you need! Call today!