Brooklyn’s real estate market continued its ascent in the fourth quarter of 2018, even as the markets in Manhattan and surrounding areas stumbled, according to recent industry reports.
The median sales price in Brooklyn rose to $770,000, up 2.7 percent from a year earlier, the third highest price ever recorded in the borough, according to a report from Douglas Elliman. The record was set in the second quarter of 2018, when the median sales price reached $795,000.
Jonathan J. Miller, president of the appraisal firm Miller Samuel, which prepared the report, said that while price growth has slowed, tight inventory suggests the upward trend will continue.
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