Brooklyn Home Sales Jump 18% as Buyers Seek New-Condo Deals

Home sales in Brooklyn, New York’s most populous borough, climbed 18 percent in the third quarter as rising apartment rents and low mortgage rates drove demand for condominiums in new developments.

Purchases of condos, co-ops, and one- to three-family homes totaled 2,219, up from 1,879 a year earlier, New York appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said today in a joint report. Sales of newly built condos surged 65 percent. The median price of all homes sold in the period rose 5 percent from a year earlier to $510,000.