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Brooklyn's Average Sale Price Hits Record

Last quarter, median sale price hit a record in Brooklyn. In the second quarter, it was the average sale price’s turn to peak. A mix of low inventory, a surging economy, Brooklyn’s magnetic culture and credit restrictions led the average sale price to come in at $788,529, according to a report from Douglas Elliman released on Thursday. That was up .7% over Q1 from last year. The median price jumped to $605,000, or 5% above Q1 2014. That was only 1% shy of the record set last quarter. Brooklyn, you gotta love it—but you also gotta have bank to own in it. More numbers from the report here.

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