2 MONTHS FREE?! Manhattan Rental & Real Estate Market Update December 2020

In today's video, I share my opinion about the current situation of Manhattan and how a lot of people is saying is read for real estate; Big apple over the last year has seen a major exodus of people moving into the suburb markets and out of the confined spaces of the Cities.

November Median rent- Down 18% to $2,957

Net Effective rent- Down 21.7% to $2,743

Vacancy Rate- 6.14%

56.6% of new leases came with 2 months of free rent.

Homes for rent- Up 180% to 15,130

In November, there were 15,130 homes in Manhattan in the rental market.

Median Luxury Sector Price- Down 13.3% to $8,000 per month

Average Annual Luxury Sector Price- Down 16.9% to $9,910

November New Leases Signed- Up 30% to 4,015 new leases signed

For the month of November, rentals increased by 30% year over year to 4,015 new leases signed. This is the highest level since the 2008 financial crisis. According to Douglas Elliman
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Видео 2 MONTHS FREE?! Manhattan Rental & Real Estate Market Update December 2020 канала Sigma Real Estate Studios