The median closed-sale price for all types of homes in Brooklyn rose 2.6 percent to $975,000, highlighting the resilience of the housing market despite fewer transactions.
While renters saw a slight dip in average rents by 2.4 percent, bidding wars still accounted for a quarter of all signed leases in September.
Notably, townhouses experienced a record increase of 25.2 percent in average price per square foot, reflecting a shift in market demand.
The trend of cash sales leading the condo market, making up two-thirds of closings, indicates a competitive climate for higher-priced properties.
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