Astoria Home Sales See Major Drop Off In 2023: Study

ASTORIA, QUEENS — People are not buying homes in Astoria in 2023 at nearly the same rate as last year, except for those looking for residences closer to the airport.

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 Astoria.

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 Astoria.

Old Astoria

• # Of Sales Q1 2022: 21
• # Of Sales Q1 2023: 8
• YoY Change: -62 percent
• Median Sale Price Q1 2022: $630,000
• Median Sale Price Q1 2023: $580,000
• YoY Change: -8 percent

South Astoria

• # Of Sales Q1 2022: 52
• # Of Sales Q1 2023: 29
• YoY Change: -44 percent
• Median Sale Price Q1 2022: $627,324
• Median Sale Price Q1 2023: $605,859
• YoY Change: -3 percent

Astoria Heights/Upper Ditmars

• # Of Sales Q1 2022: 7
• # Of Sales Q1 2023: 11
• YoY Change: -57 percent
• Median Sale Price Q1 2022: $435,000
• Median Sale Price Q1 2023: $405,000
• YoY Change: -7 percent

Old Astoria saw the biggest drop in home sales. There were 13 more homes bought in the first three months of 2022 than in the first three months of 2023.

The price of the homes bought in 2023 did drop, though, with the median cost in Old Astoria decreasing by roughly $50,000.

However, Astoria Heights, the area closest to the airport, saw a slight jump in home sales and a decrease in sale prices.

"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.