For many, the 7 train is synonymous with sudden delays and shutdowns, but mentioning the line in a real estate listing could put the property on the fast track to a sale.
Queens homes listed with references of easy access to Manhattan, such as the “7 train,” “minutes away,” and “Midtown Manhattan,” sell quicker than others, according to a report by real estate website StreetEasy.com, indicating that many home buyers prioritize access across the East River.
“Getting around easily is top of mind for Queens home buyers,” said StreetEasy data scientist Alan Lightfeldt. “The borough’s larger units, new development buzz and relatively lower sales prices are major draws, but buyers jump at listings that highlight a relatively easy commute to the city.”
The firm analyzed thousands of listings to find which word pairs were associated with the fastest selling properties. “Subway lines” and “short walk” were also among the list of words that contributed to the fastest selling properties in Queens.
StreetEasy also performed an analysis to find the best months to lists homes in the borough for the quickest turnaround.
March is the best time for sellers to list their properties, according to the analysis, which is based on past supply, demand and sales data on StreetEasy.com.
Lightfeldt said historically highest demand for properties in New York City is in April, while top supply is in June. He added that listings sell faster before demand and supply peak.
“Properties listed before supply and demand both peak are the ones that hit the sweet spot,” Lightfeldt said. “The discount rate is historically low in March as well, meaning the seller may get a greater share of their original asking price if they list now.”
Click here to see the full report.