Landlords are giving an average of 1.9 months of free rent as concessions - that’s slightly less than what was being offered a few months ago but still more than was offered pre-pandemic. For more than 20 years, The Apartment Connection has brought together qualified tenants with capable landlords and property owners throughout Greater Utica and the surrounding region. The only apartment type that is not offering discounts is two-bedroom apartments, which were typically $4,299 a month in June, a 3.59% increase from $4,150 a month in June 2019 before the pandemic.īut the sticker tag isn’t the only thing renters should be looking for. Compared to June 2019, studios are down 8.01%, one-bedrooms are down 6.99% and three-bedrooms are down 5.58%. Studios, one-bedrooms and three-bedrooms are all below pre-pandemic prices. There were the highest number of new lease signings in Manhattan in June on record since 2008, breaking record after record, and available listings have dropped 54.2% since the January record high, according to Douglas Elliman.īut it’s not too late to get a good deal: Typical rent prices grew 1.7% to $3,249 a month compared to May, still down 3.8% compared to June 2020 and down 8.48% compared to June 2019. “It was inevitable that people would return to the city, and it is inevitable that, as people return, inventory will shrink and prices will go up,” said George Case of Warburg Realty.
The massive deals on New York City rentals a few months ago could be drying up. Here are the latest housing prices and forecasts so you know what to expect when you hit the market. Like other metro markets though, the peak level of activity was record-breaking,” wrote John Walkup, co-founder and COO of NYC-based real estate analytics company UrbanDigs. “Compared to national metro markets, Manhattan took off slowly, with a breakneck pace for deal activity starting mid-winter and reaching a peak toward the end of spring. Meanwhile, Brooklyn and Queens renters continued to get discounts compared to pre-pandemic, while buyers in the less-expensive boroughs paid 10% to 20% more than they would have pre-pandemic.
Manhattan prices are de-frosting but are still better than pre-pandemic prices, according to data collected by New York brokerage Douglas Elliman. New Yorkers pay far steeper economic price than rest of nation due to pols’ extreme COVID mandatesĪs the pandemic subsides, this summer could be the last chance for New Yorkers to get in on deflated Manhattan real estate prices. New York City unemployment keeps getting worse Jumaane Williams tests positive for COVID-19 amid surge in NYC cases Hochul’s mask mandate grows as all of LI refuses to enforce it