Brooklyn remains the toughest market to negotiate on price with a median asking price of $1.125 million, 12.5% higher than a year ago.
Despite fierce competition, a typical home in Brooklyn received 98.4% of its initial asking price in May, the highest in any borough.
Brooklyn saw a slight increase in new listings, but limited availability resulted in just 2,913 homes finding buyers, an increase of only 0.6%.
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