Queens’ real estate market is picking up after three years of trailing behind Manhattan and Brooklyn, with home prices rising and inventory falling in the second quarter.

The median price of a home in Queens was $355,000, a 3.8 percent increase from last year, according to a report compiled by real estate appraisal firm Miller Samuel for Prudential Douglas Elliman. The 3.8 percent boost marked the biggest year-over-year increase in six years

The number of sales dropped 2.3 percent to 2,306 and inventory plummeted 33.3 percent to 8,754. Prices creeped up in nearly every part of the borough, with particularly strong numbers in northwest Queens. The area, which includes Astoria, Long Island City, Sunnyside and Woodside, jumped up 15 percent in prices within the last three months compared to the first quarter of 2012, DNAinfo reported.

“For the first time in a while you are seeing a much firmer market,” Miller Samuel CEO Jonathan Miller told The New York Daily News.

A three-bedroom, four-bathroom waterfront penthouse in Long Island City is on the market for $3.25 million, under the listing brokerage Nest Seekers. If it sells for the asking price, it will be the most expensive condo ever sold in Queens. The previous record was $3.05 million for a Long Island City condo sold in 2008, according to The Real Deal.

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