Market Reports: More of the Same (Up, Up, Up)

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    Average sales prices in Brooklyn hit an all-time high in the first quarter, according to a report out today from trade association the Real Estate Board of New York (REBNY). In the world of condos, that meant an average condo sale is now $734,000, an uptick of 8 percent over the same period last year, the highest in all the boroughs.

    Inventory was still low in the first quarter. Median sales prices for the quarter reached a six-year high while inventory declined to a six-year low in Brooklyn, said a report from Douglas Elliman. Listing inventory was 4,092 units for the quarter, down 13.2 percent vs. the same period last year. Days on market was 131, down 18.1 percent. The luxury median sales price shot up 8 percent, to $1,650,000.

    The average sales price for one-to-three family townhouses in Brooklyn rose six percent, to $748,000, according to the report. The neighborhoods that saw the most sales were Bed Stuy, with 183 sales, Park Slope (142), Gravesend/Mapleton (105), East New York/Spring Creek (102), Bushwick/Wyckoff Heights (100) and Williamsburg, with 96 sales.

    Brooklyn rents increased 6.39 percent in March, vs. the same period a year earlier, said a report out from MNS.

    Graphic by Douglas Elliman

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