… “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….