NYC Residential Fourth Quarter 2009

Market Report provided by The Real Estate Board of New York

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.