You may recall the article we published on May 30th 2013 titled Unemployment Improves, Jackson Heights Real Estate Market Soars, where we projected quote: “median price for renovated Jackson Heights one bedroom units will reach $300,000 + in the coming year and two bedroom units will trade in the area of $450,000.” With that prediction proving accurate I believe now is a time for a new projection.
Based on everything we are experiencing first hand, we now believe that towards the fall of 2015 median price for renovated one bedrooms in Jackson Heights will reach $350,000 and median price for renovated two bedrooms will reach $525,000.
Though we take pride in our consistency of being in tune with our local market, our projection from May 30th of 2013 was based strictly on professional instinct. Today we are projecting based on many other markers already present in our marketplace and in a much healthier economic environment.