REBNY: Average Sales Prices for Manhattan, Brooklyn, and Queens Co-ops Set Records in 3Q 2017 Queens Condo Average Sales Price Also Go Strong in Same Quarter

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For co-ops Manhattan, Brooklyn, and Queens, it was a good third quarter 2017 when it came to average sales prices.

The Real Estate Board of New York (REBNY) recently released its latest New York City Residential Sales Report for 3Q 2017, noting a record-high increase in the average sales prices for cooperatives in the aforementioned three boroughs this latest quarter compared to the same period last year.

In Manhattan, the average sales price increased eight percent to $1,311,000; less than one percent rise to $536,000 in Brooklyn; and a 14 percent jump to $303,000 in Queens.

Overall the average sales price for a co-op unit in New York City during this third quarter was $836,000, a 10 percent improvement over last year in that same period.

Queens condos also experienced a jump in average sales price as well in third quarter 2017—of about 27 percent to $723,000 in comparison to the same period in 2016—setting a record high, too. Said the report: “The average sales price for a condominium unit in Queens was boosted by the borough’s strong residential market as well as high-priced sales at the Flushing Commons and Sky View Parc developments.”

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