The New York City housing market exited 2013 strongly, according to fourth-quarter sales data for all five boroughs released Tuesday by the Real Estate Board of New York. In the fourth quarter, the total value of sales hit $9.6 billion, up a solid 29% from the same period last year, according to the data.
In total, 12,677 homes changed owners in the three months ending Dec. 30, a jump of 31% from a year earlier, but down 10% from the third quarter. Despite the large jump in sales volumes, prices were stable, with New York City’s median sales price rising only 1% over the last year to $495,000. That figure also represents a 4% drop from the third quarter of 2013. READ MORE …
