Home Sale Prices Climbing in Forest Hills

Real estate in New York has always been a fickle thing — but the clouds might be starting to recede, particularly for homeowners in Queens, according to the Real Estate Board of New York.

In a report released this week, the board examined New York City neighborhood by neighborhood, and found a 21 percent increase in home sales volume in the second quarter of 2013, compared to the previous three months. 

Average home prices also increased by six percent — hitting just under $650,000, 

It's also a very large jump compared to the same period last year, when the average sale price across the three neighborhoods was $652,000.

In Forest Hills, average home sale prices have seen a steady climb, according to numbers from the Real Estate Board of New York. 

In the second quarter of 2013, the average price of a one-to-three-family sold in the area — which includes Rego Park and Kew Gardens — was $824,000. That number represents a big increase, 11 percent, over the first quarter of this year.

Steven Spinola, president of the Real Estate Board, said prices are likely to continue their climb, particularly in hot areas, including Forest Hills.

“It remains to be seen what impact rising mortgage rates will have on sales activity going forward," Spinola said. "But the market overall is seeing steady gains and we anticipate the trend will continue.”