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Trends from last quarter:
- Brooklyn’ prices continued to push upward. This quarter there were significant double-digit price gains throughout the borough in all market segments. This quarter’s median price reached $623K, 28% above last year’s figure and the highest annual median price gain in over seven years.
- Overall closings during Third Quarter 2015 dipped 7% compared to Third Quarter 2014 when resale co-ops had the highest number of sales in seven years. As a result, this quarter resale co-op closings were down 15%, while both new development and resale condo closings were higher than last year.
- After over three years of declining inventory since the peak in Second Quarter 2011, available inventory has now increased year-over-year for the fifth consecutive quarter. Total inventory is up 37% relative to its trough during Fourth Quarter 2013.
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