Thursday, July 14, 2011

Brooklyn in High Demand while Queens Prices Drop

A report from leading real estate brokerage firm The Corcoran Group has revealed that the Brooklyn housing market is booming and the median price of a Brooklyn home is up 13% from last year. Queens meanwhile is suffering after a 40.6% fall in the number of homes sold although the median price of a home in Queens did increase by 2.1%. The market in both areas is dominated by condos and they are selling very well, accounting for one quarter of the Brooklyn market at this busy time.

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