Contact me here to discuss any upcoming vacancies and/or pricing of your apartments.
Q3 2015 Facts:
- Quarter-over-quarter, rents were up across the board. During Q3, average rents for studio apartments increased the most from Q2, with a 2.7% rise. Rents for one-bedroom homes rose by 1.5% on average, while pricing for two- and three-bedroom units climbed 1.8% and 2.2% respectively.
- As for vacancy, we found 1.51% of apartments to be available for rent during Q3, up from 1.39% in the second quarter of the year.
- 8% of transactions brokered by Citi Habitats included some form of move-in incentive, compared to 11% during the second quarter of 2015.
September 2015 Facts:
- When compared to August, rents remained stable for studio, two- and three-bedroom apartments, while they declined 1% for one-bedroom units.
- The vacancy rate rose month-over-month, from 1.40% in August, to 1.62% in September.
- In September, 10% of leases included a move-in incentive, up from 7% in August.
“Manhattan rents have plateaued at high levels, but apartment seekers are increasingly seeking better value in the outer boroughs – hence the higher vacancy rates. The good news for renters is that a more pro-tenant atmosphere may be on the horizon. Typically, as the weather cools, so does the Manhattan rental market.”
Gary Malin, President of Citi Habitats
Click the image above to access the full reports
Filed under: Featured, New York City Neighborhood News Tagged: manhattan apartment, manhattan co-op, Manhattan condo, Manhattan Real estate, manhattan real estate agent, New York city apartment, New York City Real estate, new york city real estate agent, new york city real estate broker
