Apartment rentals New York with Manhattan Real Estate Trends

Autumn is beginning to assert its balmy presence in New York City. With the days slowly becoming shorter, the neighborhood kids back in school, and the ferocious heat cooling to our current mild climate, summer is swiftly becoming a fond, not-quite-distant memory. Though August has ended, its effects will linger well into the fall. We’ve steadily posted throughout the summer about the boost the warmest season gives the Manhattan real estate market -- and predicted that the enthusiastic uptick of the market would continue. But the summer NYC rental season ended with a bang that exceeded even our small blog’s expectations. The Manhattan rental market has recovered completely from this time last year, and jumped ahead in some aspects more than others.

Prices on Manhattan rental apartments are down, which is good news for -- obviousness alert -- people looking for Manhattan rental apartments. But like all good news in NYC real estate, there's a catch, here. While it's easier to find a Manhattan rental listing at the price you want, it's getting harder to find a Manhattan rental listing period. Even during the summer, which is traditionally the prime time to find a Manhattan rental apartment, NYC apartment inventory is low and the market is, while still comparatively cheap, also surprisingly tight. The Apple Peeled takes a look at this curious and seemingly contradictory real estate trend and tries to make some sense of it.