NYC Residential Sales Reports

Q2 2020 Residential Sales Report

REBNY Press

September 9, 2020

In the second quarter of 2020, the New York City average residential sales
price, which covers condominiums, cooperatives and one-to three family
homes, was $975,806 - a 13% decline year-over-year. Broken out, the citywide
averages were:
• Condominiums: $1.6 million
• Cooperatives: $724,983
• One-to-three family homes: $860,631
From Q2 of last year, total consideration decreased by 50%, from $12.8 billion
to $6.4 billion, reaching the lowest point since the fourth quarter of 2011.
The Citywide residential transaction volume also decreased year-over-year,
declining from 11,413 to 6,534 sales, representing a 43% drop and an all-time
low since REBNY began collecting the data in the first quarter of 2006.
All five boroughs experienced a decrease in the number of transactions
year-over-year.
Borough Year-Over-Year Change in Total Consideration:
• Manhattan: -66%
• The Bronx: -31%
• Brooklyn: -36%
• Queens: -35%
• Staten Island: +4%