Q4 2020 Residential Sales Report

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Executive Summary

In the fourth quarter of 2020, the New York City average residential sales price, which covers condominiums, cooperatives, and one-to-three family homes, was $953,733 - a 3% decline year-over-year and 7% decline from the previous quarter. Broken out, the citywide averages were:

  • Condominiums: $1.4 million
  • Cooperatives: $643,208
  • One-to-three family homes: $885,828


Total residential sales volume, or consideration, decreased from $9.9 billion to $9 billion year-over-year, representing a 10% drop. However, after three consecutive quarters of declining consideration, Q4 2020 represented a 39% increase from the previous quarter.

Borough Year-Over-Year Change in Total Consideration:

  • Manhattan: -30%
  • The Bronx: -10%
  • Brooklyn: +11%
  • Queens: -2%
  • Staten Island: +28%


The Citywide residential transaction volume also decreased year-over-year, declining from 10,057 to 9,397 sales, representing a 7% drop. Three of the five boroughs experienced a decrease in the number of transactions year-over-year. After three consecutive quarters of declining transactions, Q4 2020 represented a 49% increase from the previous quarter.

Borough Year-Over-Year Change in Number of Transactions

  • Manhattan: -26%
  • The Bronx: -17%
  • Brooklyn: +3%
  • Queens: -7%
  • Staten Island: +25%


Manhattan & Brooklyn Active Listings:

  • 4,941 condos with an average asking price of $3.3 million
  • 4,149 co-ops with an average asking price of $1.7 million
  • 971 one-to-three family homes with an average asking price of $5.5 million


Manhattan & Brooklyn In-Contract Listings:

  • 2,862 condos with an average asking price of $2 million
  • 2,299 co-ops with an average asking price of $1.2 million
  • 486 one-to-three family homes with an average asking price of $2.3 million