Brooklyn housing prices broke records this
quarter as demand expanded and supply fell.
Robust economic conditions and the rebranding
of Brooklyn as a Manhattan competitor continued
to play a role in the stronger market. Median sales
price set a new record, rising 15.1% to $676,250
from the same period a year ago. Brooklyn
remains the only New York City borough with a
median sales price above the pre-financial crisis
high. The third quarter median sales price was
25.2% above the same period eight years ago.
Still, 73.8% of all Brooklyn property sales in the
third quarter were below the $1 million threshold…