Home sales rebound in NYC: report

New York /
Jul.July 19, 2010 04:30 PM

New York City’s housing market continued its rebound in the second quarter of 2010
as the total amount of residential real estate sales increased 72
percent by dollar amount compared to the second quarter of 2009,
according to a new report by ResidentialNYC.com, the public real estate
listings site of Real Estate Board of New York. The value of all deals
increased to $7.6 billion last quarter, up from $4.4 billion in the
second quarter of 2009 (note: correction appended).
The REBNY report also found that the average sales price for all homes
citywide — including co-ops, condos, and one-to-three family units —
increased to $728,000. Citywide, apartment sales volume increased
year-over-year 65 percent. In addition, Manhattan apartment sales
volume increased 82 percent, while in Brooklyn it increased 62 percent.
Recent market reports from the city’s major residential brokerages
similarly declared that home sales volume has increased citywide, but
found that prices have remained flat. “The trend that emerged in
previous quarters is enduring, and we are optimistic that this
indicates a return to a healthy market,” said Steven Spinola, president
of REBNY “Although these developments are promising, the resurgence is
dependent upon continued economic recovery.” TRD

 
 

Related Articles

arrow_forward_ios
John Banks
High expectations: A look at John Banks’ 4 years at REBNY
High expectations: A look at John Banks’ 4 years at REBNY
John Banks
John Banks to step down as REBNY president
John Banks to step down as REBNY president
REBNY Awards
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Total size of New York construction sites is smallest since 2010. (Getty)
New construction projects off to slow start in 2021
New construction projects off to slow start in 2021
(iStock)
Landlords seek up to 5% rent hike on stabilized apartments
Landlords seek up to 5% rent hike on stabilized apartments
Gov. Andrew Cuomo, Andrea Stewart-Cousins and Carl Heastie (Getty; iStock/Illustration by Kevin Rebong for The Real Deal)
Landlords’ building emissions workaround is dead
Landlords’ building emissions workaround is dead
From left: Assembly member Harvey Epstein, State Sen. Julia Salazar,  MBA's Mike Flood and REBNY's James Whelan (Getty, Anuja Shakya/Whelan, MBA/Flood)
Real estate makes last-minute push to kill proposed preferred equity tax
Real estate makes last-minute push to kill proposed preferred equity tax
Compass' Robert Reffkin and REBNY's James Whelan. (Getty, Whelan ph: Anuja Shakya)
Compass slams REBNY with antitrust suit
Compass slams REBNY with antitrust suit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...