Sep. 25, 2023 By Ethan Marshall According to RentCafe’s latest rental competitivity report, New York City has been facing rising competition when it comes to apartments. This surge is due in large part to Manhattan and Brooklyn both placing among the report’s top 20 rental markets. In this report, 139 markets in the United States…
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Sep. 19, 2023 By Ethan Marshall According to a report from NYC-based listing portal RentHop, Queens saw a large increase in rent prices of one-bedroom units over the course of the summer. This finding comes as demand for outer boroughs like Queens has increased and new developments are being put up there. RentHop’s report analyzed…
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Sep. 18, 2023 By Ethan Marshall The August 2023 rental market report from Douglas Elliman Real Estate showed that northwest Queens was experiencing new highs in average rent per square foot, average rental price and median rental prices. At the same time, lease signings continued to drop. Year-over-year, the median rental price rose 27.2%, to $3,900. This is also 31.8% higher than before the COVID-19 pandemic. The average rental price increased 27.3%, from $3,368 in Aug. 2022 to $4,287. The average rent price per square foot in northwestern Queens went up 23%, from $53.19 to $65.43. The net effective median…
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Sep. 12, 2023 By Ethan Marshall According to a report put together by WalletHub, New York has experienced the fourth-highest increase in credit card debt among all states in the second quarter of 2023. This conclusion was reached based upon data recently released by the Federal Reserve, as well as data from TransUnion and the United States Census Bureau. The average credit card debt in the state of New York increased by $2,821,527,680 in the second quarter of 2023, ranking as the fourth-highest in the nation. Only California ($5,412,310,336), Texas ($3,944,711,993) and Florida ($3,087,038,580) experienced a larger increase. The total…
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Sep. 5, 2023 By Ethan Marshall MNS Real Estate’s recently released rental report for the month of August in 2023 shows that the average rent price in Queens is still rising. According to the data collected, the average rent has risen 2.81% from July to August, from $2,735 to $2,811. Studio, one-bedroom and two-bedroom units…
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Sep. 5, 2023 By Ethan Marshall After analyzing data from Zillow that details the average time it takes to close a sale in each state, RubyHome Realty concluded that New York is the slowest state in which to sell realty. The compiled data determined that the nationwide average time it takes to close a sale is 33.5 days. According to the data for 2023, it takes an average of 59.83 days for homes in New York state to be sold. Despite this large average, it actually presents an improvement from the same time in 2022. Since last year, the average…
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Aug. 31, 2023 By Ethan Marshall According to the latest rental activity report from Rent Cafe, Queens experienced the 13th-most rental activity in August 2023 among 150 cities in the United States included in this report. Queens climbed six spots from its August 2022 ranking. The sudden and drastic rise experienced by Queens was thanks…
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Aug. 30, 2023 By Ethan Marshall According to a report from Rent Cafe, New York City has retained its title as No. 1 in apartment construction thus far in 2023. The report estimates that at least 33,000 new rental units are set to be opened this year. Of these units expected to be completed before the end of the year, most of them are either in Brooklyn, Manhattan or Queens. Brooklyn has the most at 9,825, followed by Queens (4,430) and Manhattan (3,770). The Bronx and Staten Island were not included in the metro data set for New York City….
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Aug. 29, 2023 By Ethan Marshall Zumper recently published its National Rent Report for August 2023, which indicated that the median price for one-bedroom apartments in New York City has increased to an all-time high. The $10 increase compared to the previous month brings the median total up to $3,990. Of the 100 cities included…
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