BOROUGHWIDE — BROOKLYN’S MEDIAN SALES PRICE hit $1.05 million in the third quarter , marking the first time it has crossed the million-dollar threshold , according to the Elliman Report released Wednesday. The figure marks a 7.7% year-over-year increase, driven by stronger demand and limited supply. Total listings rose 16%, while new condo listings fell nearly 25%. Almost half of all sales were all-cash, reflecting deep-pocketed buyers navigating higher mortgage rates. In Queens, prices rose modestly to $730,000, while listings plunged nearly 24%.

Median luxury sales prices rose to the highest on record, despite luxury listing inventory increasing.

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