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Elliman Report: Brooklyn Sales 1Q 2015

Brooklyn housing prices continued to push higher as a robust economy and limited inventory kept the pressure on. The median sales price increased 17.5% from the prior year quarter to a record of $610,894, the highest result in the 12 years this metric has been tracked. Following a similar pattern, average sales price rose 10% to $749,269 from the same period last year. By property type, the largest price gains were seen in the 1-3 family market. Median sales price for a 1-3 family sale was a record $747,000, up 26.9% from the prior year quarter. The condo median sales price also set a new record…

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