NYC Residential First Quarter 2011

Market Report provided by The Real Estate Board of New York

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.