Median sales price for the fourth quarter
declined 7% to $343,000 from $369,000 in the
prior year quarter. Average sales price showed
the same pattern, sliding 2.5% to $395,264
from $405,489 in the same period last year.
The decline in the overall price indicators was
primarily due to the large shift in the mix toward
co-op sales, the lowest priced property type. As
buyers took advantage of record-low mortgage
rates during the quarter, the lower priced market
quintiles saw larger year-over-year declines in
median sales prices.