Real Estate Guides

Market Reports


NYC LUXURY: CONTINUING PRICE CUTS LEAD TO NEW MID-SUMMER DEALS

1020 Fifth Avenue—where a fabulous five bedroom co-op unit (with its own eat-in kitchen, four fire places and a spacious 40 feet living room) is located. After its 2015 introduction into the market at $20 million, this luxury property finally went under contract last week for $18 million. The previous week was also when Penthouse 1 at 120 West 72nd Street—with its three bedrooms, three and a half bathrooms, five landscaped terraces and a working fireplace—went under contract at around $10.5 million.

RECENT COMMERCIAL REAL ESTATE TRANSACTIONS (JULY 2017)

July makes way for the beginning of August, and 2017 has officially made it past the middle of the summer season. Meanwhile, real estate investments and activities are heating up, especially as economic factors have been driven up to peak levels. For the month of July, here are a number of Manhattan and Brooklyn based transactions in commercial real estate that made the industry news, as featured in the New York Times:

REBNY: BROOKLYN AND QUEENS DOMINATE RESIDENTIAL SALES, Q2 2017

Half the year has gone by, but the demand for new homes coupled with strengthening economic gains continues to fuel real estate activity in New York City. This leads to additional transactions for this year with Brooklyn and Queens dominating the residential sales market for the second quarter of 2017, according to the Real Estate Board of New York’s latest report.

REACHING NEW HEIGHTS: NYC CONSTRUCTION INDUSTRY HITTING RECORD HIGH SPENDING

Construction has reached a new record in spending, according to a recently released report by the New York Building Congress. Total expenditures for 2016 is an estimated $42.4 billion—a historical first for the city as spending has officially crossed the $40 billion threshold. As a result, the construction industry has generated $66.3 billion by the end of 2016.

ABOARD THE SECOND AVENUE SUBWAY: WHAT’S NEXT FOR THE UPPER EAST SIDE?

Six months ago, an extended Q line was built in the Upper East Side as a means of convenient transportation to the rest of the city. This grand scheme was followed by a number of changes in the neighborhood, and these are noticed by both residents and developers.

LUXURY AT A DISCOUNT: FALLING RENTAL PRICES AMIDST WEAKER DEMAND

A few years after the 2008 recession, property developers started selling “ultra-luxury” apartments when they saw the growing wealth of their consumers as well as their demand for prime real estate. This led to a boom in the real estate luxury market—a time when buyers would willingly pay millions for high-end properties that get sold shortly after being listed.

RECENT COMMERCIAL REAL ESTATE TRANSACTIONS (MAY 2017)

In Yorkville, a private investor from Kiaton L.L.C. bought an 8,050 square foot, five story walkup. The property, previously owned by Simon Sellman, is a mixed use property with 13 apartment studios, 1 one-bedroom unit and a laundromat that occupies 1,500 square feet of retail space at the ground level. The transaction was brokered by Capital Property Partner and Eric Goodman Realty with a closing price of $8,000,000.

U.S. HOME PRICES BOOST AS SUPPLY TIGHTENS

With U.S. housing inventory levels 9% lower than April of last year, sales performance continues to fall due to shortages in available housing market options. Reasons include increasing construction costs and labor shortages. These trends, when combined with a growing housing demand, effectively translates to higher market prices.

TOP 5 BIGGEST NYC REAL ESTATE LOANS (EARLY 2017)

Fetner Properties was given $183 million worth of bonds for the refinancing of 501 West 41st Street. Out of that amount, $139 million comes from the proceeds of tax-exempt bonds issued in December 2016 by the New York Housing Finance Agency.

REBNY: NYC CONDO PRICES REACH RECORD HIGH PRICES IN Q1 2017

Despite falling prices for cooperative units, real estate properties in Manhattan, Brooklyn and Queens have reached record high prices, according to the Real Estate Board of New York’s first quarter 2017 report.

THE LENDER’S DILEMMA: LENDING DECLINE IN NYC REAL ESTATE

With dropping sales and current issues in the multifamily sector, lenders have pumped less money to real estate projects in 2016, according to CrediFi, a commercial real estate data startup. Based on their data, it was found that commercial real estate lending in New York fell down by 17% year over year.

NEST SEEKERS HAMPTONS MARKET REPORT 2014-2017 STUDY & TRENDS

A three year analysis of the Hamptons shows consistent increases in the average sales price, with 2016 ending with a 3.3% mark up. The addition of more luxury properties in the market this year may contribute to these increasing values. On the other hand, the median sales price dropped by 2.5% as of the current date, which shows that most sellers may have lowered the costs of their homes to attract potential buyers. Despite these efforts, the number of sales performance in the Hamptons continues to fall, with the sales starting to plateau in 2015 before sinking by ...

A YEAR IN REVIEW: NYC REAL ESTATE’S BIGGEST STORIES OF 2016

From new high luxury developments to a real estate mogul for president, 2016 has been a very eventful for real estate. With present signs of economic recovery and a more stable market, people are already looking forward to what’s in store for 2017. But, before that, we end the year by looking back at some of 2016’s biggest highlights which have gathered the attention of players within the industry.

A NEW YEAR, A NEW BEGINNING: 8 REAL ESTATE TRENDS TO EXPECT FOR 2017

The end of the year opens up new beginnings, including the search for a new home. 2016 has seen numerous factors that shaped the current state of the U.S. housing market, and as we celebrate the year’s end, industry experts are already forecasting real estate performance next year. Based on their findings, here are some major trends to expect.

RECENT TRANSACTIONS: DECEMBER 2016

Some people have fancy clothes or expensive gadgets in their Christmas list. Others want buildings and properties. With the end of the year fast approaching, here are some transactions that were carried out this month as part of the holiday shopping rush...

UNDER THE CHOPPING BLOCK? TRUMP’S PLANS FOR MORTGAGE INTEREST DEDUCTIONS

With the start of the new Trump administration quickly approaching, everyone is anticipating the policy changes that the upcoming president has in store. For home owners, they can expect a “big tax cut for the middle class” in the form of mortgage interest deduction caps. “We’ll cap mortgage interest, but we’ll allow some deductibility,” said Steve Mnuchin who is currently in consideration as Trump’s Treasury Secretary, "Any reductions we have in upper income taxes will be offset by less deductions so that there will be no absolute tax cut for the upper class."

A GLIMPSE OF THE FUTURE: THE LATEST TRENDS IN REAL ESTATE TECHNOLOGY

Swipe right? Swipe left? Like or dislike? Save or ignore? These days, anything can be decided with the tap of a finger on a mobile screen—including a potential new home. With a recovering economy and the vast potential of technology to solve the ever-growing need for properties, there has been a boom in the real estate tech industry. As of 2015, $1.5 billion has been pooled towards real estate tech ventures. That’s 350% higher compared to 2010, and these ventures—many of them being startups—have been developing tools that aim to innovate the home search process ...

LIVING IN A SMALLER, CONNECTED WORLD: THE EFFECTS OF GLOBALIZATION ON REAL ESTATE

From increased business opportunities to advancing technologies, the word “globalization” often pops up in various contexts and is reflected in different ways. Over the years, economic self-sufficiency became more obsolete as people saw a major shift in demographics, different trade policies between economic regions, and more efficient ways to connect to other parts of the world. Economies are now linked between each other, producing a continuing flow of goods, services, investments, people and information. The world we live in is a truly globalized one where diversity produces labor opportunities and concepts such as global GDP which plays a heavy factor ...

MAKING REAL ESTATE GREAT AGAIN: PREDICTING REAL ESTATE UNDER THE TRUMP ADMINISTRATION

This week saw the end of a very historic election in America with the rise of Donald Trump as the 45th president of the United States. During his campaign, he has talked about trade, immigration, unemployment and homeland security. Yet, despite his strong background in real estate, he spoke little about this, and his electoral victory comes with mixed reactions. As Ralph McLaughlin, chief economist of Trulia, pointed out, home buyers from blue states will hesitate to make large investments due to their feelings of economic uncertainty. On the other hand, those from the red states—primary supporters of Trump ...

TROUBLE INFLATING IN THE EAST: THE CHINESE REAL ESTATE BUBBLE

No one can forget the 2008 Financial Crisis—a recession that shook the global economy as a result of a high default rate in subprime mortgage backed securities. Also known as the worst financial crisis since the Great Depression, this was a time of high unemployment, GDP losses, dried up business investments and major cutbacks in spending. Almost a decade has passed since then, and while the U.S. is still in the process of economic recovery, analysts are anticipating a potential repeat of history stemming from another powerful player—China.

U.S. ELECTIONS ON NATIONAL REAL ESTATE

“Who will you vote for?” Discussions and predictions revolve around this recurring question which only the historical decision next week can answer. Whether America will see a presidency led by Clinton or Trump, no one can deny the amount of political and economic uncertainty towards the future. While both candidates have touched on issues such as immigration, healthcare, and employment, voters have been left in the dark with regards to other specific issues. Real estate would be one of them, and this is concerning to both buyers and sellers who are interested in knowing about the future housing policies that ...

“WAIT NOW, INVEST LATER”: HOW UNCERTAINTY MARKS THE POST-BREXIT ERA

“Wait now, invest later,” investors are saying towards London’s softening real estate market. No one knows the long-term effects of the Brexit on the economy, and the British government is still in the process of drafting trade policies that can preserve the UK’s trading rights across the Eurozone. These factors gave investors reason to withdraw their funds, which led to a shut down in property trades and the freezing of assets worth £18 billion.

THE DEUTSCHE BANK CRISIS, AT A GLANCE

Recently, the U.S. Department of Justice slapped a $14 billion fine to Deutsche Bank due to sales malpractice that eventually paved the way to the 2008 financial crisis. The bank claimed that it does not intend to settle the fine anywhere near that amount. Negotiations, however, are still ongoing, and as of this date, the bank expects U.S. authorities to eventually lower the initial demand. But, to add salt to injury, the German financial giant also lost its position in the list of New York’s most active commercial real estate lenders for this quarter. How did this ...

MAN VERSUS NATURE: HOW SAFE IS YOUR HOME FROM NATURAL DISASTERS?

Matthew—yet another name added to the list of hurricanes that have battered the U.S. and left massive destruction in their wakes. These calamities come with expensive property costs, and as of this date, Forbes estimates that the economic damage that Matthew leaves behind will range from $4 to 6 billion. It is a high price, although not record breaking when compared to Katrina ($108 billion) and Sandy ($71.4 billion).

NEW YORK CITY RESIDENTIAL SALES REPORT- 2ND QUARTER 2016

The New York City residential sales market started to face some resistance in the second quarter of 2016. While the average sales price of all homes in the city increased – reaching a new, all-time high since the Real Estate Board of New York (REBNY) began tracking home sales data in 2006 – and average sales prices for a home in each of the five boroughs rose year-over-year, sales volume started to weaken. The Bronx and Staten Island were the only boroughs to record increases in sales volume this quarter when compared to last year.

NEW YORK CITY RESIDENTIAL SALES REPORT- 1ST QUARTER 2016

The Manhattan and Brooklyn sales markets emerged from the slower winter months slightly more expensive than last year, according to the most recent market data by StreetEasy. While inventory grew slightly in Manhattan, it continued to fall in Brooklyn, allowing prices to grow at a considerably faster pace there than in Manhattan. As affordability looms heavy over New York households, relatively lower-priced homes in East Brooklyn and Upper Manhattan led the two boroughs in annual price growth in the first quarter; a strong sign that a growing number of buyers are seeking value in these areas of the city.

NEW YORK CITY RESIDENTIAL SALES REPORT- 4TH QUARTER 2015

The real estate markets in Manhattan and Brooklyn closed the final quarter of 2015 with record-high prices as sales inventory continued to slide in Manhattan and competition among renters intensified in both boroughs. The median resale price of homes in Manhattan grew 7.1 percent from last year to $1,002,008, according to the StreetEasy Price Index, marking the first time it has ever exceeded $1 million. The highest growth was in Upper Manhattan, where the median resale price grew 14.6 percent from last year to $641,882, followed by Upper East Side (9.1 percent), Upper West ...

NEW JERSEY RESIDENTIAL SALES REPORT- 4TH QUARTER 2015

In 2015, national residential real estate, by and large, had a good year. Supply and demand were healthy in an environment rife with low interest rates and improved employment. The Federal Reserve finally increased short-term rates in December, and more increases are expected in 2016. Housing markets have shown a willingness to accept this. Save for a few expensive outliers where low inventory and high prices have become the norm, a balanced market is anticipated for much of the country for the foreseeable future. Improved inventory and affordability remain key factors for continued optimism.

NEW JERSEY RESIDENTIAL SALES REPORT- 3RD QUARTER 2015

The third quarter of 2015 has ticked its last tock with the hands pointing firmly upon a reliable clock of a market. Although noon and 6:30 fluctuations are present even within the same states and cities, the overall tempo of real estate potential is experiencing a healthy number of good omens. The job market has shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation.

NEW YORK CITY RESIDENTIAL SALES REPORT-3RD QUARTER 2015

According to StreetEasy’s Manhattan Price Index, median resale prices of all homes in Manhattan was $983,207 in July, a 6.3 percent increase compared to the same time last year. Although this was a new record high in Manhattan, annual growth has slowed for 18 consecutive months. The Manhattan Price Index, which tracks median resale prices of all homes in Manhattan and within each of the borough’s five major submarkets, remained the highest in the Downtown submarket in July at $1.2 million, followed by Upper West Side ($1.1 million), Upper East Side ($958,089), Midtown ...

MANHATTAN RESIDENTIAL SALES REPORT-2ND QUARTER 2015

Manhattan home prices reached a record-high of $936,683 in June, according to StreetEasy’s Manhattan Price Index (MPI). However, price growth across the borough has slowed for 17 consecutive months and prices grew at a rate of 5.8 percent, down from a 7.7 percent rate in 2014. The key market force driving high prices in Manhattan is constrained inventory. Although the number of for-sale listings available throughout the quarter rose by 14.1 percent from the previous quarter, inventory was just 0.1 percent above last year’s total. The lack of significant inventory growth was due ...

NEW JERSEY RESIDENTIAL SALES REPORT- 2ND QUARTER 2015

The window closes on a cool summer night to end the 2nd quarter of 2015. Market analysis with compounded quarterly information becomes the evening’s read by low light in the comfort of home. Markets across the country and state continue to improve at rates not seen in years. Even if the increases in closed sales, median price and inventory are not across the board for all local markets, there is enough good news in one or more categories to consider this a successful first half.

MANHATTAN RESIDENTIAL SALES REPORT-1ST QUARTER 2015

The Manhattan condo market saw healthy price growth last month as stubbornly low inventory kept prices at record highs. The number of condos available for sale in January was only slightly more than last year, growing 3.7 percent to 3,880 units. Condo inventory has been stuck at near record low levels for much of the last two years, with January’s total 18.2 percent lower than Manhattan’s 5-year historical average. As a result of constricted supply, condo prices continued to climb in January albeit at a slightly lower rate. Prices grew by 8.8 percent from ...

NEW JERSEY RESIDENTIAL SALES REPORT- 1ST QUARTER 2015

All expectations in 2015 are for a healthy and energetic selling season. National stories have been highlighting an increase in new construction sales and pending sales, but national stories are not always readily applied to the local scene. All the same, if ever there was a year to list or purchase a home, wider economic factors seem to indicate that this is the one.

MANHATTAN RESIDENTIAL SALES REPORT-4TH QUARTER 2014

Q4 2014 Manhattan Market Report: Record-breaking Manhattan Prices in Q4 Give Way to Slow-down in 2015. Manhattan condo prices rose to their highest level on record in the final quarter of 2014, ending a year in which inventory failed to rebound from a five and a half year slide from the market’s 2009 peak. The median sale price across all property types jumped to $942,000, a 6.4 percent jump from the previous quarter and nearly 11 percent above last year’s level.

MANHATTAN RESIDENTIAL SALES REPORT-3RD QUARTER 2014

The Manhattan real estate market settled into a stable growth mode in the third quarter of this year, with the median sale price rising less than one percentage point since last quarter and 4.1 percent from last year. However, the third quarter failed to add inventory to lift the market out of its persistent supply slump. The number of homes listed for sale in Manhattan during the third quarter fell 6.0 percent from the second quarter in the spring season. Available homes for sale remain in historically short supply, with inventory 1.2 percent below last year’s ...

MANHATTAN RESIDENTIAL SALES REPORT-2ND QUARTER 2014

Prices remain high amidst constrained inventory, but price appreciation slows in Q2. Manhattan home prices remained well above last year’s level during the second quarter of 2014 as this year’s spring trading season failed to reverse a year-long trend of dwindling inventory. Although the number of listings increased 10.5 percent over the quarter, total inventory remained nearly 8 percent below last competition between buyers.

MANHATTAN RESIDENTIAL SALES REPORT - 1ST QUARTER 2014

Median Recorded Sale Price increased by 16.9% since last year and by 6.5% since last quarter. Total Inventory decreased by 13.0% since last year and by 1.0% since last quarter. Contract Activity decreased by 15.2% since last year and by 9.3% since last quarter. Time on Market decreased by 35.2% to 89 days, compared to 137 days last year. Condo Market Index for February 2014 increased by 2.6% since January and by 16.3% since February 2013. The index is currently at its all-time high.

MANHATTAN RESIDENTIAL SALES REPORT - 4TH QUARTER 2013

Manhattan Condo Market Index for November 2013 increased by 1.0% since October and by 12.0% since November 2012. The index is currently at its all-time high. Total Inventory decreased by 8.9% since Q3 2013 and by 8.7% since Q4 2012. Signed contracts decreased by 5.5% since Q3 2013, but increased by 10.4% since Q4 2012. Time on market decreased by 31.3% to 92 days, compared to 134 days from Q4 2012.

MANHATTAN RESIDENTIAL SALES REPORT - 3RD QUARTER 2013

Manhattan Condo Market Index for August 2013 increased by 1.2% since the previous month and by 9.9% since the prior year. Inventory decreased by 12.8% both from a year ago and since last quarter. Signed contracts increased by 10.0% from the prior year but decreased by 30.6% from the prior quarter. Price cuts decreased by 29.3% from last year and by 15.3% from last quarter. There were 8.4% more price increases than a year ago but 15.1% fewer than last quarter. Time on market decreased by 27.8% to just 95 ...

MANHATTAN RESIDENTIAL SALES REPORT - 2ND QUARTER 2013

Manhattan Condo Market Index for May 2013 rose by 1.9% since the previous month and by 9.1% since the prior year. Currently, the market is 3.9% below the 2008 peak. Median closing prices for the Manhattan overall market declined by 1.2% compared to year ago. Condo resale price rose 1.3% from the prior year while co-op median price decreased by 2.2%. New development median price increased by 51.0%. Volume of closings increased 12.1% from last year and jumped by 45.8% from last quarter. Inventory is still 11.4% down from a ...

MANHATTAN RESIDENTIAL SALES REPORT - 1ST QUARTER 2013

Manhattan Condo Market Index for February 2013 rose by 0.2% since the previous month and by 4.8% since the prior year. Median closing prices for the Manhattan overall market declined by 2.5% compared to year ago. Condo resale price rose 3.8%from the prior year while co-op median price decreased by 5.6%. New development median price increased by 27.9%. Volume of closings increased 7.3% from last year but dropped by 22.9% from last quarter. Inventory is still 16.9% down from a year ago but since last quarter, inventory levels inched up ...

NYC RESIDENTIAL FOURTH QUARTER 2011

The economic and financial unease over the past several months have appeared to make their impact on the NYC residential sales market in the 4th quarter of 2011, as average sales price and transactions have declined. Sales of all homes in New York City were down 12 percent from the fourth quarter of 2010 and the average price of a home decreased 6 percent from the fourth quar- ter of last year. The share of Manhattan apart- ment sales of $5 million and over to total Manhattan apartment sales were down 18 per- cent year over year.

NYC RESIDENTIAL THIRD QUARTER 2011

Despite the continued national economic weakness, tumultuous credit and equity markets, and the disarray in Euro economies, the New York City residential sales market stood firm. Total NYC residential sales consideration was up 8.41 percent from the second quarter to $8.04B. Compared to last year, residential consideration was down 3.89 percent. This was mainly due to the first time home buyer tax credit closing dead- line being extended into the third quarter of 2010. Due to that extension many sales that were being rushed to close in the second quarter closed in the third quarter, raising the ...

NYC RESIDENTIAL SECOND QUARTER 2011

The New York City residential sales market continued to post mixed results in the second quarter of 2011. The average sales price of a home in New York City increased 2 percent and the number of home sales increased 10 percent compared to the first quarter of 2011. This trend reflects the traditional seasonal variation in the residential sales market.

NYC RESIDENTIAL FIRST QUARTER 2011

The New York City residential sales market moved sideways in the in the first quarter of 2011 with the average price of a home declining by 1 percent while the number of transactions increased by 2 percent compared to the fourth quarter of 2010. The lack of clear direction was also demonstrated by a 1 percent increase in the total dollar consideration for all residential trans- actions.

NYC RESIDENTIAL THIRD QUARTER 2010

The New York City residential sales market remained on steady footing during third quarter of 2010 overcoming the obstacles of the expiration of the first time homebuyer’s tax credit and loss of momentum in the overall economic recovery. The total consideration for residential property was $8.36 billion up 10.75 percent quarterly and 26.2 percent when compared to the third quarter of 2009, the first quarter in the NYC residential mar- ket recovery. Manhattan residential considera- tion during the third quarter of 2010 constituted 57.51 percent of the total market compared to 53.72 percent in ...

NYC RESIDENTIAL FOURTH QUARTER 2010

The New York City residential sales market in the fourth quarter of 2010 saw a continuing and sustainable rise in the average sales price and a sharp decline in the number of transactions. Average sales price increases over the last year have been driven by record low mortgage rates, the federal home buyer tax credit, a significant slowdown in the supply of new housing, and modest job growth in New York. The decline in transactions was the result of the end of the homebuyer tax credit along with the extension of the closing deadline that inflated sales in the third ...

NYC RESIDENTIAL SECOND QUARTER 2010

The New York City residential sales market in the second quarter of 2010 continued showing the characteristics of a healthy market and contin- ued the trend that emerged during the previous two quarters. The total consideration for residen- tial property was $7.5B, up 4.8% quarterly and 72.8% when compared to the frozen market of the second quarter in 2009. Manhattan residential consideration during the second quarter of 2010 constituted 59.1% of the total market compared to 48.8 percent in the second quarter of 2009. Sales volume for apartments, when compared to the first quarter of ...

NYC RESIDENTIAL FIRST QUARTER 2010

The total dollar value of New York City resi- dential sales was $7.2B in the first quarter of 2010, up over 63 percent compared to the first quarter of last year. Manhattan sales represented about 56 percent of this total value. Brooklyn and Queens each accounted for 17 percent of the total dollar value of sales, while Staten Island rep- resented 7 percent and the Bronx 3 percent. However, this New York City total dollar value was a 9 percent drop from the $7.9B figure for the total value of sales last quarter.

NYC RESIDENTIAL FOURTH QUARTER 2009

The New York City residential sales market in 4q09 continued to show signs of recovery as the positive indicators of the last quarter— increasing transactions and a slowdown in price declines--continued into the final quarter of the year. Sales volumes increased once again, both quarterly (20 percent) and year to year (17 per- cent). Citywide average home sales prices inched up one percent, quarter to quarter and year to year. In many areas of the market, we are seeing modest quarter to quarter increases, with some of these gains bolstered by a flurry of closings in new condominium buildings.

NYC RESIDENTIAL THIRD QUARTER 2009

The residential real estate market in New York City came back to life in the third quarter of 2009. Sales prices and transaction volume reversed the trend of falling quarter on quarter figures in many markets. These quarter to quar- ter market improvements were due to factors other than the typical summer boost in activity. These improved market indicators are repre- sented in much of the borough-wide data, and equally apparent when analyzing the neighbor- hoods by property class. Nevertheless, it should be stated that the recovery in the resi- dential real estate market in New York City is fragile ...

REBNY REPORT MAY 09

Average sales prices of a home in New York City (which includes cooperatives, condominiums and one-to-three family dwellings) declined 23 percent to $660,000 in the first quarter of 2009 compared to the same time last year, according to the REBNY New York City Residential Sales Report released in April. Despite the overall decline, the report found that certain segments of the market showed signs of life: Queens condominiums saw a 21 percent jump to an average price of $486,000 and in Brooklyn, Greenpoint condominium prices increased 7% to $543,000. In Manhattan, TriBeCa condominium prices surged 57 percent ...

NYC RESIDENTIAL SECOND QUARTER 2009

Homes (includes all condominium, coopera- tive units and 1-3 family dwellings) ␣ The average sales price of a home in New York City during the second quarter of 2009 was $644,000, a 22% drop compared to the average price during the second quar- ter of 2008. The year on year change in the average price of a home in Manhattan was down 19% to $1,297,000; in Queens prices fell 13% to $403,000; in Brooklyn prices fell 12% to $503,000. Apartments (includes all condominium and cooperative units) ␣ The average sales price of an apartment in New York ...

NYC RESIDENTIAL FIRST QUARTER 2009

Homes (includes all condominium, coopera- tive units and 1-3 family dwellings) ␣ The average sales price of a home in New York City during the first quarter of 2009 was $660,000, a 23% drop compared to the average price during the first quarter of 2008. The individual borough's average home price declines though were not as steep as the city wide number. ␣ The average price in Brooklyn was down 10% to $521,000. In Queens the average price dropped 8% year on year to $422,000. The year on year change on the average price of a home in ...

THIRD QUARTER 2008

The average sale price of a home in New York City was $783,000 in the third quarter of 2008, slightly higher than a year earlier ($782,000). However, since the first quarter 2008 the average sale price has been declining, due in part to the reduction in the number of condominium sales whose average sale price is higher than all the property types that comprise the Home category as well as the decline in the sale price city-wide of 1-3 family dwellings. The Manhattan average sale price of a home was $1,492,000 in the third quarter of ...

NYC RESIDENTIAL FOURTH QUARTER 2008

Homes (includes all condominium, coopera- tive units and 1-3 family dwellings) ␣ The average sale price of a home in New York City during the fourth quarter of 2008 was $669,000, a 10% decline from a year earlier. This decline continues a downward trend in all home prices since the beginning of the year. However, to provide another perspective, the fourth quarter 2008 price is still above the average price in the fourth quarter of 2006 and almost 17% higher than the average price in the first quarter of 2006 ␣ Manhattan was the only borough to post an increase in ...

SECOND QUARTER 2008

New York City's average sale price for a home (apartments and one to three family homes) rose 12% to $824,000 in the second quarter of 2008, compared to a year ago. This increase is attributable primarily to the continuing price increases for Manhattan apartments.

FIRST QUARTER 2008

The average sales price of a home in New York City reached $853,000 during the first quarter of 2008. This was an increase of 28% over the average price of a home in the first quarter of last year.

NYC RESIDENTIAL 2007

The average sales price of a home in New York City reached $732,000 during 2007. This was an increase of 15% over the average price of a home in 2006.