Real Estate Guides

NYC Residential Second Quarter 2009

Market Report provided by The Real Estate Board of New York
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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 City during the second quarter of 2009 was $771,000, a 23% drop year on year. The average price of an apartment in Manhattan in the second quarter of 2009 was $1,248,000 a drop of 19% from the second quarter of last year. Brooklyn’s average sales price of an apartment in the second quarter of 2009 was $421,000, a fall of 16% from the previous year’s second quarter. The average sales price of an apartment in Queens in the second quarter was down 2% from last year to $282,000. The Bronx average price of $253,000 is an increase of 12% over the second quarter of last year.

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