- Miller Samuel Real Estate Appraisers & Consultants - http://ms.clash.outthinkgroup.com -

[Inaugural] 2Q 2009 Manhattan Rental Market Overview Available For Download

The inaugural 2Q 2009 Manhattan Rental Market Overview [1] that I author for Prudential Douglas Elliman [2] was released today.

Other reports we prepare can be found here. [3]

The 2Q 2009 data [4] will be available today. A designated chart section for Manhattan rentals is under development and hopefully ready later this month.

Press coverage can be found here [5].

An excerpt

…There were 2,346 rentals in the second quarter, down 58.3% from the 5,624 units of the same quarter last year, but up 2.4% from the 2,290 units in the prior quarter. Inventory increased 28.8% to 7,290 apartments from 5,658 in the prior year quarter, yet declined 3.1% from the 7,522 units in the prior quarter. Days on market nearly doubled to 83 days from 45 days and listing discount increased to 9.5% from 2.6%, both compared to the prior year quarter. There was a late quarter surge in rental activity in the quarter not attributable to seasonal trends. The month of June accounted for 46.3% of the total rentals for the quarter, while May accounted for 33.3% and April accounted for 20.4%. Last year at this time, each month saw a consistent number of rentals…

Download 2Q 2009 Manhattan Rental Market Overview [1]