First half sales and average sales prices of all homes in New York City have been rising steadily since the lowest point of the recession in 2009. In the first half of 2009, 13,903 sales were recorded, with an average sales price of $652,000. The first half of this year registered combined sales of 20,563, up from 18,753 during the first half of 2012 and an average sales price of $792,000—up from $756,000 the previous year.
Manhattan and Brooklyn have seen the biggest increases in first half sales and average sales prices of all homes since the financial crisis. Sales in Manhattan have doubled since 2009, with 6,550 sales recorded in the first half of this year, up from 3,276 during the first half of 2009.
The average sales price of all homes in Manhattan has been rising steadily over the past four years—culminating at $1,452,000 in the first half of 2013, an increase from $1,361,000 in 2009.
Brooklyn sales of all homes increased 62% in the first half of 2013—up to 5,139 from 3,166 during the same time period in 2009. Since the first half of 2009, the average sales price in Brooklyn rose 20% to $618,000 in the first half of 2013.
Below are graphs depicting the increase in sales and average sales price for the first six months of each year since 2009 in each borough and citywide.
source: REBNY Reasearch www.REBNY.com.
Manhattan Monthly Market Report | July 2013
Below are graphs depicting the increase in sales and average sales price for the first six months of each year since 2009 in each borough and citywide.
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Sales and Average Sales Price by Year Citywide
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| Year |
Sales
|
Average Sales Price
|
| 2009 |
13,903
|
$652,000
|
| 2010 |
20,599
|
$719,000
|
| 2011 |
18,930
|
$740,000
|
| 2012 |
18,753
|
$756,000
|
| 2013 |
20,563
|
$792,000
|
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Sales by Borough and Year
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| Year |
Manhattan
|
Bronx
|
Brooklyn
|
Queens
|
Staten Island
|
| 2009 |
3,276
|
983
|
3,166
|
5,141
|
1,337
|
| 2010 |
6,224
|
1,207
|
4,653
|
6,572
|
1,943
|
| 2011 |
5,863
|
1,040
|
4,730
|
5,649
|
1,648
|
| 2012 |
6,046
|
1,058
|
4,700
|
5,877
|
1,072
|
| 2013 |
6,550
|
1,092
|
5,139
|
5,934
|
1,848
|
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Average Sales Price by Borough and Year
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|||||
| Year |
Manhattan
|
Bronx
|
Brooklyn
|
Queens
|
Staten Island
|
| 2009 |
$1,361,000
|
$361,000
|
$512,000
|
$413,000
|
$395,000
|
| 2010 |
$1,369,000
|
$355,000
|
$533,000
|
$393,000
|
$405,000
|
| 2011 |
$1,389,000
|
$348,000
|
$555,000
|
$392,000
|
$410,000
|
| 2012 |
$1,395,000
|
$327,000
|
$564,000
|
$394,000
|
$427,000
|
| 2013 |
$1,452,000
|
$349,000
|
$618,000
|
$413,000
|
$424,000
|
source: REBNY Reasearch www.REBNY.com.
Manhattan Monthly Market Report | July 2013
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