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The city's residential sales market waded though uncertainty, panic and dramatic price drops in 2009 -- so what's in store for 2010? Steven Spinola, president of the Real Estate Board of New York is cautiously optimistic.

"Well 2010 is going to follow basically the last quarter of 2009 and the last quarter according to the first two months of the last quarter are doing pretty well -- sales are up dramatically from a year ago, city-wide condo sales are up 64 percent, co-op sales are up 30 percent versus where they were a year ago," Spinola said.

Jacky Teplitzky, managing director at Prudential Douglas Elliman, says the traditionally quiet December has seen a flurry of transactions and could be a very good indication of what 2010 has in store.

"If everything continues as it is right now at the end of December, I think that we are going to see prices stabilizing and we might even start seeing some price increases in some segments of the market where the levels of inventory are going to start going down," Teplitzky said.

"I don't think we are going to see a double dip recession, I don't think we are going to go back down again," Spinola said. "I think we dropped somewhere between 20, 30 percent in prices and I think that's serious. People will clearly argue that before we hit this rollercoaster ride we were probably too high."

And while apartment sales have been up, Spinola says sales of single family homes continue to drag in all boroughs except Manhattan. But he says the expanded first time home buyer credit and the new tax credit for qualified existing homebuyers could provide some relief for this sector.

Diane Ramirez, president of Halstead Property real estate, sees 2010 as a year of value and opportunity for buyers.

"I think for at least the first six months I see us at a perfect storm. We have prices that are realistic now, we have great deal of property so you've got have variety and you also have low interest rates," Ramirez said.

"This is your opportunity to negotiate. You shouldn't hesitate to make an offer because the fact that activity has increased might mean that there is going to be another offer made the same time you are interested," Spinola said.

And if you need to sell in 2010, experts say to price it right and you may even see a bidding war.