REBNY Residential Sales Report 4th Quarter 2015
The New York City residential sales market had small increases in both average homes sales price and homes sales volume in the fourth quarter of 2015 compared to last year’s fourth quarter.
The average sales price of a NYC home increased one percent to $843,000 compared to last year’s fourth quarter of $841,000 due to fewer sales recordings of condos in the ultra-luxury segment of the market. In the fourth quarter of 2015 there were six sales recorded at 157 West 57th with an average sales price of about $17 million, while in the fourth quarter of 2014 there were eleven sales with an average price of about $34 million. A decline in sales volumes in Manhattan and Brooklyn, whose average home sales prices are the highest in the city, combined with increasing sales in Queens and the Bronx, whose average home sales prices are considerably lower, also played a significant role in the lower average home sales prices within NYC in the fourth quarter…