"The average sale price for all types of homes sold in the quarter increased 7.7 percent year over year to $1,281,784, a record for Brooklyn."
"The median sale price reached $995,000, marking a 4.7 percent increase compared to the same period last year, setting another record."
"In north Brooklyn, the average price per square foot leapt 19.6 percent to $1,367 year over year, reflecting strong market demand."
"Despite a 9.2 percent increase in inventory, continued strong demand maintained high average and median sale prices throughout the borough."
In the first quarter, Brooklyn's real estate market saw a significant rise in the average and median sale prices, hitting record highs despite a 9.2% increase in inventory. The average sale price rose 7.7% year over year to $1,281,784, while the median sale price improved by 4.7% to $995,000. Strong demand for new construction was evident with the price per square foot for new developments rising by 15.5%. North Brooklyn, in particular, experienced a dramatic 19.6% leap in average price per square foot, indicating robust market activity.
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