Forest Hills Home Sales See Major Drop In 2023: Study – Patch

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FOREST HILLS, QUEENS — People are not buying homes in Forest Hills in 2023 at nearly the same rate as last year.
A new study by PropertyShark found that an eye-catching 193 of 215 neighborhoods across the city saw its number of home sales drop in the first quarter of 2023 when compared to 2022, including in Forest Hills.
Even more lopsided was the situation in Queens, 52 of the 65 neighborhoods saw home sales decrease in the first quarter of 2023 vs. 2022, according to the study.
Here are the numbers for Forest Hills:
There were 76 more Forest Hills homes bought in the first three months of 2022 than in the first three months of 2023.
It’s a dramatic 34.9 percent decrease in the figure this year.
The price of the homes bought in 2023 did drop, though, with the median cost in Forest Hills decreasing by roughly $1o,000.
“Of the 22 NYC neighborhoods where sales picked up, 10 were from Queens,” reads the report from PropertyShark. “Other Queens neighborhoods where sales increased included Hollis (72.7%), East Flushing (70.6%), Long Island City (60%) and the Astoria Heights-Upper Ditmars (57.1%) area.”
You can check out the full report — HERE.


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