NEW YORK CITY — Condo hunters, you are not unsuitable to suppose that New York Metropolis has extra listings in the course of the coronavirus pandemic.
The town’s rental listings in July hit the very best degree in 10 years of data compiled by StreetEasy, a neighborhood actual property platform.
There have been roughly 67,000 listings citywide that month, of which 37,000 had been in Manhattan, in response to the information.
Evaluate that to the identical level final yr — the town had 44,000 complete listings, with about 23,000 in Manhattan.
The listings information provides to different research displaying metropolis’s rental and actual property markets have been hit arduous by the coronavirus disaster. A lot of it — corresponding to a record-breaking spike in sublets — seems tied to New Yorkers fleeing the town.
Paying hire is an enormous concern for 1000’s of New Yorkers who misplaced jobs or wages in the course of the coronavirus pandemic. “Cancel hire” has develop into a rallying cry.
However for New Yorkers fortunate sufficient to flee hardship it seems they’ve extra and — barely cheaper — choices for flats.
The everyday hire in Manhattan dipped to $three,200 a month in July from $three,500 the yr earlier than, in response to StreetEasy information.