Market reports are in from the third quarter of this year, andsales numbers are setting new records, especially in Brooklyn and Queens. From Douglas Elliman, numbers show sales prices in Brooklyn and Queens climbing for the fourth year in a row across the board for condos, co-ops and one- to three-family homes, as well as luxury properties (defined as the upper 10 percent of the market). The median sales price rose 8.7 percent to $735,000; the average sales price went up 14.8 percent to $983,511; the median sales price for luxury properties rose 23.5 percent to $2.5 million. All three numbers represent record increases.The rising market has likely been the result of ahealthy job market in New York Cityandpopulation growth that’s five years ahead of schedule.
Brooklyn, Queens keep getting more expensive
The good news? Manhattan rents are down.