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Dumbo Tops Brooklyn Neighborhoods for Priciest Median Sales

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It's no surprise that with its spectacular views of the East River and the Brooklyn Bridge, a waterside park, and relatively limited space for development, Dumbo has emerged as the most expensive neighborhood in Brooklyn in terms of median home sales price, DNAinfo reports based on a real estate report provided by PropertyShark. Dumbo recorded a median sales price of $1.4 million this past year, with Vinegar Hill in second at $1.26 million, and Carroll Gardens in third with approximately the same number.

A total of 71 homes - single family homes, condos, and co-op units, were sold in Dumbo in the period between January 1 and December 15 this year, and of those 31 homes recorded sales prices of over $1.5 million. The most expensive homes in the neighborhood went for between $4.1 million and $4.8 million at the newly constructed Dumbo townhouses.

The most expensive sale in the borough for a single family home however took place in Cobble Hill, where a townhouse at 177 Pacific Street sold for $15.5 million in June. In a multi-family home the most expensive sale took place at the pricey One Brooklyn Bridge Park, where a unit went for $5.3 million.

The neighborhood that saw the largest increase in median sales price was the up and coming Prospect Lefferts Gardens where the median price jumped 72 percent from $408,000 last year to $700,000 this year.

Over the last 10 years, the borough has seen a steady increase in median sales prices going from $400,000 in 2005 to $560,038 this year. But the same can't be said for the number of homes sold. That number has actually dipped from 9,527 in 2005 to 7,580 this year.

· DUMBO Was Brooklyn's Most Expensive Neighborhood for Sales in 2015: Report [DNAinfo]
· Market Report Archives [Curbed]