NYC Real Estate News by Fernando Branco, Real Estate Broker, GRI, ABR, CNE - Fernando Branco Realty

Albany – July 22, 2010 – The New York state housing market continued its strong start to 2010 as second quarter sales, helped by a record-setting June sales total, jumped more than 71 percent from the first quarter, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The 2010 second quarter statewide median sales price grew by nearly 12 percent compared to the 2009 second quarter, despite falling by 5 percent from the first quarter of 2010. “The New York State housing market has clearly benefited from the federal homebuyer tax credit,” said Duncan R. MacKenzie, NYSAR chief executive officer. “The proof is in the 24,327 sales that closed in the 2010 second quarter and especially in the 11,230 new homeowners in June.” “The federal tax credit and historically low mortgage rates created great opportunities for buyers in the first half of 2010 and they responded,” said MacKenzie. “While we did expect the number of ...

New York City's housing market continued its rebound in the second quarter of 2010 as the total amount of residential real estate sales increased 72 percent by dollar amount compared to the second quarter of 2009, according to a new report by ResidentialNYC.com, the public real estate listings site of Real Estate Board of New York. The value of all deals increased to $7.6 billion last quarter, up from $4.4 billion in the second quarter of 2009 ( note: correction appended ). The REBNY report also found that the average sales price for all homes citywide -- including co-ops, condos, and one-to-three family units -- increased to $728,000. Citywide, apartment sales volume increased year-over-year 65 percent. In addition, Manhattan apartment sales volume increased 82 percent, while in Brooklyn it increased 62 percent. Recent market reports from the city's major residential brokerages similarly declared that home sales volume has increased citywide, but found that pri...

Sales Monthly unit sales in June were at 67. This is up 103.0% from June of 2009. Monthly sales/list price ratio in June moved down to 91.5% from 92.2% in May. Prices Monthly median price in June was $1,850,000. This is up 19.4% from $1,550,000 in June of 2009. 3-month avg. average sale price is $876,467, up somewhat from $758,404 in 2009. Inventory Monthly inventory of 740 in June was up 2.5% from 722 in May but down 8.2% from 806 in June of 2009. Monthly new listings fell to 114 from 143 in May. Market Time Monthly days on market of 113 in June was down substantially from 172 in May and way down from 159 in June of 2009. Monthly months of supply in June moved down to 18.8 from 19.7 in May.

Below is/are the link(s) to the my monthly housing newsletter. Greenwich (Single-family residential) Greenwich (Condominium) Greenwich (Coop) Greenwich (Multi-family) Southport (Single-family residential) Southport (Condominium) Southport (Coop) Southport (Multi-family) Darien (Single-family residential) Darien (Condominium) Darien (Coop) Darien (Multi-family) New Canaan (Single-family residential) New Canaan (Condominium) New Canaan (Coop) New Canaan (Multi-family) Old Greenwich (Single-family residential) Old Greenwich (Condominium) Old Greenwich (Coop) Ol...