Q4 2019 Residential Sales Report

The average sales price of a home (condominium, cooperative, and one-to-three family dwelling) in New York City
in Q4 2019 was $985K, a 5% increase year-over-year.
Total consideration decreased 4.5% year-over-year, to $9.9B—the lowest since the 4th quarter of 2014. Citywide
residential transactions also decreased year-over-year by 9%, to 10,057 sales—the lowest since the first quarter of
2013. The number of transactions decreased in each of the 5 boroughs.
Year-over-year, total consideration declined in all boroughs except the Bronx, which remained flat. Manhattan
declined by 2%, Brooklyn by 5%, Queens by 6% and Staten Island by 19%.
For units under $1M, the volume of transactions declined 10%. From $1M-$3M the number of transactions
decreased 4%, from $3M-$5M the number of transactions decreased by 14% and over $5M the number of
transactions decreased by 36%.