NY Q2 2020 Residential Sales Report

Market Report provided by REBNY

In the second quarter of 2020, the New York City average residential sales price, which covers condominiums, cooperatives and one-to three family homes, was $975,806 - a 13% decline year-over-year. Broken out, the citywide averages were: Condominiums: $1.6 million Cooperatives: $724,983 One-to-three family homes: $860,631 From Q2 of last year, total consideration decreased by 50%, from $12.8 billion to $6.4 billion, reaching the lowest point since the fourth quarter of 2011. The Citywide residential transaction volume also decreased year-over-year, declining from 11,413 to 6,534 sales, representing a 43% drop and an all-time low since REBNY began collecting the data in the first quarter of 2006. All five boroughs experienced a decrease in the number of transactions year-over-year.