The average sales price of a home in New York City sank 22 percent to
$644,000 in the second quarter of 2009 from $824,000 at the same time last
year, according to a report released today by ResidentialNYC.com, the
real estate listings Web site maintained by the Real Estate Board of
New York. The report, which tracks data about co-ops, condos
and one- to three-family homes in all five boroughs from the city’s
Department of Finance, found that the number of home sales in the city
dropped 35 percent to 7,194 from 11,008 in the second quarter last
year, while in Manhattan, sales plummeted 47 percent to 1,788 from
3,348 in the prior-year quarter. Second-quarter reports released by city brokerages last Thursday showed a more dramatic drop in sales — a decline of at least half from the second quarter of 2008. TRD [more]