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Elliman Report: Brooklyn Sales 3Q 2016

The Brooklyn housing market continued to push the envelope both with higher prices, more sales and falling inventory. Median sales price increased 8.7% to $735,000 from the same period last year to a new record. Average sales price showed a similar pattern rising 14.8% to a record $983,511, just shy of the $1 million threshold. Housing prices continued to rise across all property types and all major regions of the borough. The median sales price for condos were up 6.8% to $812,008, co-ops were up 8.4% to $428,000 and 1-3 family houses were up 9.2% to $830,000 respectively over the same period…

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