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Elliman Report: Brooklyn Sales 1Q 2017

The Brooklyn housing market was characterized by records for the overall sales price trend indicators, heavy sales volume and falling inventory. Overall prices were skewed higher by more new development closings that averaged twice the size of the prior year quarter. Borough wide median sales price jumped 16.2% to a record $770,000 from the prior year quarter. This was the third consecutive quarterly record set for this metric. Average sales price jumped 25% to a record $993,955 over the same period, and was the second record set in the past three quarters…

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