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Elliman Report: Brooklyn Sales 2Q 2012

…The Brooklyn housing market could best be described as having stabilized prices and sales, largely due to falling inventory and a slowly improving regional economy. Unusually tight mortgage lending conditions have tempered further improvement. Median sales price was $477,108, nominally below $480,000 in the prior year quarter. The average sales price increased 2% to $585,777 from $574,387 over the same period…

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