A mortgage grows in Brooklyn - Metro US

A mortgage grows in Brooklyn

Home prices in Brooklyn climbed in the second quarter, led by demand for condominiums in new developments.

The median price of newly built condos that sold this past spring was $535,000, a 9.9 percent jump from a year earlier, New York appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said Thursday in a joint report.

The median price of all Brooklyn condos, co-ops and one- to three-family houses increased 3.7 percent to $480,000.

The outlook in Queens, however, isn’t so rosy.

There, sales plunged 41 percent this spring to 2,361, and the median price climbed 2.1 percent to $342,000, according to Miller Samuel and Prudential. Homes stayed on the market 19 percent longer than a year ago.

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