Market Summary: “During the second quarter of 2009, approximately 50-60% fewer sales traded versus the same quarter a year ago. Due to the economic downturn, lack of consumer confidence, and difficult mortgage market, median price fell by 13% while average price per square foot declined 16%.”
Here is the interactive map addition to the Q2 Corcoran/PropertyShark report. It charts all sales by building, color coded by price per square feet and sized by number of sales in the building.
The inventories of New York City homes for sale continue to be at high levels in relation to the number of closed transactions.