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This web site is Copyright 2009 The Real Estate Group NY — All rights reserved and protected by the Millennium Copyright Act. The Real Estate Group NY is a member of REBNY.
The Real Estate Group NY is proud to present the July 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.
The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.
In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.
As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.
The Real Estate Group NY is proud to present the July 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.
The Manhattan rental market is back in the midst of its prime rental season and as prices rise and inventories decrease this month, the bump in activity seems to be helping the market continue its return to normality.
Rental prices are up again this month — .72% in month-to-month comparisons and 3.62% year-over-year. While not large increases, these numbers are in step with normal seasonal fluctuations we would expect to see in July.
At the same time, inventories have decreased this month by 0.78% and vacancies are especially hard to come by in larger units as new renters eager to find shares arrive in Manhattan.
In addition, while the influx of new grads to Manhattan has helped to decrease some of the available inventory, intra-borough renters, who were out in full force last year to take advantage of the incentives many landlords were offering, are staying put this season. This trend is also helping to drive down vacancy numbers.
Seeing the trend of increasing rents and decreasing inventories, landlords and property owners around Manhattan have pulled nearly all incentives from prime Manhattan units. No-fee deals are few and far between, mostly found in the Financial District.
We recommend that renters looking to enter the market start their search now rather than waiting for fall. There are few indications that landlords will introduce more favorable pricing come September and given the low turnover rate in leases this year, renters will have to be diligent in their search to find a value.
The Real Estate Group NY is proud to present the June 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.
The summer rental season has finally arrived for eager Manhattan landlords and property owners. Incentives have been removed from most properties south of 96th Street and many major landlords have begun increasing prices. In addition, activity is significantly up around the city – especially in larger units. Still, the data this month holds some cautionary notes.
Rental prices were positive this month – up 0.60% vs. May and 2.15% vs. 2009 numbers. Vacancy numbers were less encouraging. Inventories were up 5.34% overall and by as much as 6.15% in doorman buildings.
At the same time, many landlords have become increasingly strategic with their offerings – attempting to turnover as much of their inventory as possible during the busier summer months. Couple this with the significant increase in rental inventory that Manhattan has seen over the past few years and to some extent, an increase in inventory should be expected during this time of year.
As the summer season continues, we encourage landlords to carefully monitor their inventories as without real employment growth, there is likely to be a finite supply of prospective renters to soak up the excess vacancies.
The Real Estate Group NY is proud to present the June 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.
The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.
In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.
As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.
The Real Estate Group NY is proud to present the May 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.
Manhattan is abuzz with news that the rental market has “recovered” and the data this month confirms that the market is gaining strength and returning to some sense of normality. As the summer months usually see an increase in both activity and prices, it is not unusual for us to note positive numbers this month; however, given the depressed activity we have previously been observing, these statistics are a welcome reprieve for landlords and property managers around Manhattan.
Rents are up 1.94% vs. April and 1.72% vs. May of 2009. Moreover, inventories slightly decreased this month, falling 0.71%. This increase in prices coupled with the decrease in inventories lends support to assertions that the rental market has finally turned the corner.
Having seen that the market is gaining strength, many major landlords have pulled their incentives this month. As summer activity increases, the remaining deals with incentives will be snatched up by motivated early summer renters.
The Real Estate Group NY is proud to present the May 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.
The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.
In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.
As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.
The Real Estate Group NY is proud to present the April 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.
The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.
In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.
As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.
The Real Estate Group NY is proud to present the April 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.
There is good news for Manhattan’s rental market this month. Rents are beginning the slow climb upwards and have risen 1.10% overall since March and are actually up 0.27% vs. 2009 numbers. In addition, some landlords have already begun to pull incentives in preparation for the summer months. These are both positive indicators that the market is finally gaining strength.
Inventories, however, are more indicative of a still uncertain consumer sentiment. Vacancies are up 1.17% across Manhattan, creating some doubt as to the sustainability of the rent upticks seen recently.
As activity continues to increase this summer, it appears that the market will continue to gain ground. Yet, given the depths the market fell, in addition to a lack of real employment growth, it seems that it may take longer than landlords anticipated to recover their losses.
The Real Estate Group NY is proud to present the March 2010 edition of our Manhattan Rental Market Report™, the only research on the city’s rental rates published on a monthly basis.
The Manhattan rental market continues its slow return to normality this month. Rents are up 0.62% across Manhattan this month vs. last and the gap in year-over-year numbers continues to close. March 2010 numbers only lag 2009 figures by 1.52%. Vacancies, however, did see an increase of 1.21% overall.
While adjustments from landlords and property managers were sparse this month, as the spring and summer months bring an increase in activity to the market, renters should expect to see steady price increases from landlords looking to recoup some of their down market losses.
The Real Estate Group NY is proud to present the March 2010 installment of the Brooklyn Rental Market Report, which will provide insight to the current state of the residential rental market, and provide clearer, more concise data than ever before available for the Brooklyn real estate market.
The data provided has been specifically compiled for you; the renter, investor, developer, landlord, property manager etc., to provide you with a better understanding of the Brooklyn housing market. The data is indicative of the types of apartments available in varying neighborhoods. Our goal is to use technology to provide you with transparency into a market that has been so difficult to navigate until now.
In the future as our data continues to grow, the monthly Brooklyn Rental Market Report will be even more comprehensive providing further insight with greater reporting capabilities on the state of the market, and to create the ability for all property owners to better gauge their own pricing based on a clearer view of their neighbors.
As The Real Estate Group NY continues to grow, we aim to make the Brooklyn Rental Market Report, the only true and accurate report you will ever need.
This web site is Copyright 2009 The Real Estate Group NY — All rights reserved and protected by the Millennium Copyright Act. The Real Estate Group NY is a member of REBNY.