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Elliman Report: Brooklyn Sales 2Q 2014

Brooklyn housing prices continue to set new records, due to rising sales and low inventory. The median sales price of a Brooklyn residential property increased 4.5% to a record $575,000 from the same period last year. Average sales price also set a new record, rising 16.6% to $783,296 from the prior year quarter. Median sales price is now 6.5% above the $540,000 market peak reached in the third quarter of 2007 before the 2008 Lehman “tipping point.”…

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