Average Home Price in Brooklyn Breaks $1M Threshold for the First Time

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Friday 11:48 GMT

The average price of a home in Brooklyn broke the $1 million threshold for the first time, setting a new record in the third quarter of 2018, according to new market reports.

Brooklyn and Queens have recorded some of the fastest residential price growth in the U.S. as high-quality new developments over the past several years have pushed prices up while buyers hunt for value in New York’s outer boroughs.

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