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by CareyBot

Average apartment prices grew 35 percent last year in Brooklyn, and one- and two-family home prices jumped 20.5 percent in 2005 compared to 2004, according to the Real Estate Board of New York, a real estate trade association that has about 11,000 members. The first-ever REBNY Brooklyn real estate report, which uses city and brokerage firm data, found that the DUMBO/Fulton Ferry had the highest Brooklyn-area average sales price of apartments in 2005, at $1.26 million, or $717 per square foot. The survey includes data from 19 Brooklyn neighborhoods. The average sales price for a Brooklyn apartment was $478,000 in 2005 while the average sales price of one- and two-family homes was $530,000. Fort Greene reported the highest surge in apartment prices, with an 81.9 percent increase in 2005 com...