Long Island City, NY 11102 Real Estate Market Report

ZIP Code: 11102
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Long Island City remains a critical indicator of market value, reflecting a stable environment with a flat price trend year-over-year. This suggests that while there is no significant price appreciation, the market is maintaining its value amidst a neutral market temperature. The neighborhood has experienced a balanced buyer-seller dynamic, characterized by moderate transaction volume and elevated inventory levels relative to sales activity.

As of April 2026, the market is influenced by elevated but moderating mortgage rates, currently averaging 6.38% for a 30-year fixed mortgage, which is 0.29% higher than the previous year. This moderate interest rate pressure may be impacting buyer behavior, leading to a slower sales velocity. Despite these factors, rental demand in the area continues to see moderate increases, indicating a robust rental market that could attract potential buyers in the future.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Liquidity metrics unavailable due to insufficient data quality.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Long Island City are averaging 6.38%, which is 0.29% higher than the average rate of 6.09% recorded a year ago.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price trend in Long Island City is flat, indicating stable pricing without significant fluctuations.

2. Elevated inventory levels suggest excess supply relative to sales activity, which may lead to pricing friction for sellers.

3. The current mortgage rate of 6.38% reflects moderate interest rate pressure, potentially influencing buyer affordability and demand.

4. Rental prices are trending up, indicating strong rental demand despite the cooling sales market.

5. The market temperature is neutral, suggesting a balanced environment for both buyers and sellers.

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Notable Properties

The following 4 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.