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Prices for co-ops, condos and houses in Queens soared 11% over last year, Douglas Elliman says

… “Inventory is down sharply. When you have less supply than there is demand, prices rise,” said Jonathan Miller, a real estate appraiser who compiled the report.

Many prospective buyers have begun looking toward Queens in response to price tags that were steeper in other boroughs , he said.

The average home price in Manhattan is about $1.43 million, Miller said. It’s about $672,000 in Brooklyn. “Queens is turning out to be the big beneficiary of rising prices in Brooklyn and Manhattan,” he said….

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#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
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