According to the latest batch of market reports, New York City multifamily sales dipped under $1 billion and Manhattan rents are up 8 percent over last year.
December 2015 Manhattan absorption: Halstead Property
It took an average of 3.8 months for Manhattan apartments to sell in December, down from 4.1 months in November. Upper Manhattan and the West Side remained the tightest markets in the borough. Read the full report here.
2016 Rental affordability: RealtyTrac
It’s still more affordable to buy than rent in more than half of U.S. markets. Brooklyn and Queens ranked as some of the least affordable rental markets among 52 counties analyzed. Read the full report here.
2015 NYC rental prices: Zumper
New York City rents rose 8 percent in 2015, and reached a median price of $3,470 by the end of the year. East and West Harlem were the only neighborhoods to see price drops, while Battery City Park saw the strongest price increase. Read the full report here.
Manhattan luxury contracts Dec.14-20: Olshan Realty
Luxury home sales in Manhattan picked up during the second week of December, after a sluggish first seven days of the month. Thirty-two contracts were signed with a total asking price volume of $288.7 million. Read the full report here.
Manhattan sales and rental inventory: StreetEasy
Manhattan sales inventory fell 13.3 percent in November over the same period last year, and was the largest year-over-year decline in nearly three years. Read the full report here.
October 2015 NYC multifamily sales: Ariel Property Advisors
Multifamily sales hit its lowest level since April and totaled $783 million for the month, short of the $1.8 billion in sales during the same month last year. Read the full report here.