Average Home Price Drops to $660K; Hello, Half-a-Mill?; Keep an Eye on Condos

The uber-powerful Real Estate Board of New York has weighed in on the local housing market in the first quarter, presenting a rather comprehensive body of stats that spills out into all boroughs and that shows, like reports last week covering Manhattan, drooping sales and largely steady prices.

The most striking stat, as far as we can tell: $660,000 was the average home sales price for the entire city in the first quarter, and that...

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