Residential sales improve: report

Third-quarter residential sales in New York City saw continued improvement, according to a report from the Real Estate Board of New York, released today. Total sales volume reached $8.36 billion in the third quarter, a 26 percent increase over the same time period in 2009 and an 11 percent increase over sales volume in the second quarter of this year. The number of homes also increased, both year-over-year and quarter-over-quarter, climbing 18 percent and 12 percent, respectively. The average sales price of homes sold across the city hit $722,000, a 7 percent increase over the previous year and a 1 percent decrease over last quarter’s figure. Other reports have shown a recent uptick in activity, as well. In Manhattan, third-quarter market reports from the city’s top brokerages showed improvement, while, citywide, some brokers say that a slow summer has given way to a busier autumn. TRD