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NY Citywide Market Report First Half 2013

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.


Sales and Average Sales Price by Year Citywide
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

     
     
Sales by Borough and Year
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
     
     
     

Average Sales Price by Borough and Year
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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17 commentsMitchell J Hall • August 17 2013 06:43AM
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