NYC average sales price drops 10%

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The Real Estate Board of New York, the largest trade group in New York City, reported today that the average sales price for cooperatives, condominiums and single-family to three-family homes across the five boroughs dipped 10 percent in the fourth quarter compared to the same quarter last year.

The average sales price of New York City apartments — including co-ops and condos — dipped 4 percent year-over-year in the fourth quarter, while the average price of single-family, two-family and three-family homes dropped 13 percent to $548,000 and the average sales price of co-ops rose 10 percent to $602,000, according to REBNY.