NYC Residential Fourth Quarter 2011

Market Report provided by The Real Estate Board of New York

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.