[Three Cents Worth NY #217] Manhattan’s Cloudy Rental Discounts
Posted by Jonathan Miller - Tuesday, November 13, 2012, 1:22 PM
It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.
Read this week’s 3CW column on @CurbedNY:
Although we are releasing our October rental report for Douglas Elliman tomorrow, this is Renters Week on Curbed, so every day is a rental and here is the market through the end of September (3Q 12). There’s a lot going on in this chart, but I repeat, this is Renters Week.
I took a look at the relationship between $ listing discount ($ difference between the original rental list price and rental price) and days on market from original list date. The cloud comments generally refer to the $ listing discount columns, but it’s interesting to see how much DOM flows (line) the same way. The bigger the $ distance between market rental price and list rental price, the longer a property takes to rent. Same logic applies to the purchase market.
[click to expand chart]
Today’s Post: Manhattan’s Cloudy Rental Discounts [Curbed]
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