The Real Estate Market Turns A Corner

Written By Jared Antin | October 13, 2020 | Published in Real Estate Market Trends, NYC Lifestyle, How To NYC
2020%2f10%2f12%2f22%2f42%2f11%2fafbdaf98 acbd 4e4b 9642 ee52b3eb9f42%2fjonathan riley vw8mubhyxcu unsplash

If you are following the New York City real estate market as closely as we are, you might have seen The New York Times piece “New York Real Estate Is On the Mend”, one of the first positive articles about NYC Real Estate we’ve seen in many months. If you rely solely on the data to navigate the market, the statistics can seem confusing and, as often portrayed in the media, extreme.

Working in the field and seeing what is really happening on the ground every day, we were ecstatic to see this major media source report on what we have been seeing happening for the last three months -- a recovery and a gradual return to New York City.

In keeping with this positive news, we can report that, over the last five weeks, 37% more apartments have been rented than in the same period last year. In the sales market there were 171 contracts were signed, 8% more contracts were signed than the same week last year. We are also hearing from our clients that recent hires who started their jobs remotely this year are getting notices that they need to start reporting to the office in the next 30-60 days, and are now actively seeking apartments in NYC.

One recent buyer quoted in the New York Times article commented, “New York City real estate has just been immune to everything life throws at it,” he said. “I just don’t see it failing.”

We couldn't agree more.

In case you missed the article you can read it HERE.

Blog Archive


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2021 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Elegran LLC. IDX information is provided exclusively for consumers’ personal, non- commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Elegran LLC may or may not be the exclusive listing agent of the properties being displayed on All data displayed on is presented for informational purposes only and should be independently confirmed by all customers. All Information is compiled from both public and private sources including, but not limited to the RLS, MLS and ACRIS; each of which is assumed to be reliable. All information displayed is subject to errors and omissions regarding apartment specifications and final sale prices, and further, any unit listed may have had its listing withdrawn without notice subsequent to such information being compiled. No representation is made as to the accuracy of any description (ie: listing, close sale data, and/or building description) of any building or individual unit. All measurements and square footage are approximate and all information herein should be confirmed by customer and/or their attorney. Elegran LLC, its members, affiliates, and contributors adhere to New Your City, New York State, and United States Fair Housing Laws.