Posted by Jonathan J. Miller -Thursday, January 13, 2011, 2:57 PM
Here’s an excerpt from the report:
The median rent of a Manhattan property edged 1.7% higher to $2,950 from the same period last year and saw a seasonal decline of 1.7% from $2,900 in the prior quarter. Listing inventory dropped 26.1% over the year, consistent with a 32-day decline in days on market to 44 days. This is less than the 60 day average over the past decade and also consistent with the sparing use of concessions over the past several quarters.
Other reports we prepare can be found here.
4Q 2010 Manhattan Rental Market Overview [Miller Samuel]
4Q 2010 Manhattan Rental Market Podcast [The Housing Helix]
Manhattan Rental Market Charts [Miller Samuel]
Manhattan Rental Market Aggregate Data [Miller Samuel]