Q3 2020 Residential Sales Report

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Executive Summary

In the third quarter of 2020, the New York City average residential sales price, which covers condominiums, cooperatives, and one-to-three family homes, was $1 million - a 4% decline year-over-year. Broken out, the citywide averages were:

  • Condominiums: $1.9 milion
  • Cooperatives: $717,981
  • One-to-three family homes: $824,892


From Q3 of 2019, total residential sales volume, or consideration, decreased from $12.2 billion to $6.5 billion, representing a 47% drop. The decline in the total consideration occurred in all five boroughs.

Borough Year-Over-Year Change in Total Consideration:

  • Manhattan: -48%
  • The Bronx: -40%
  • Brooklyn: -53%
  • Queens: -44%
  • Staten Island: -32%


The Citywide residential transaction volume also decreased year-over-year, declining from 11,475 to 6,305 sales, representing a 45% drop and a second consecutive quarterly historic low. All five boroughs experienced a decrease in the number of transactions year-over-year.

Borough Year-Over-Year Change in Number of Transactions:

  • Manhattan: -49%
  • The Bronx: -43%
  • Brooklyn: -49%
  • Queens: -44%
  • Staten Island: -32%


Manhattan & Brooklyn Active Listings:

  • 5,519 condos with an average asking price of $3.3 million.
  • 4,609 co-ops with an average asking price of $1.7 million.
  • 1,025 one-to-three family homes with an average asking price of $5.1 million.


Manhattan & Brooklyn In-Contract Listings:

  • 2,545 condos with an average asking price of $2 million.
  • 1,917 co-ops with an average asking price of $1.1 million.
  • 437 one-to-three family homes with an average asking price of $2.3 million.