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Elliman Report: Queens Sales 1Q 2017

The Queens housing market has been performing much like its adjacent Brooklyn neighbor. Price trend indicators showed large year over year gains, sales surged and listing inventory declined as the “Brooklyn spillover” persisted. Borough wide, the median sales price increased 21.3% to $485,000 from the prior year quarter. Average sales price followed the same pattern, rising 17.4% to $558,259 over the same period. The luxury market, representing the top 10% of all sales, showed similar gains. Luxury median sales price…

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