NYC New Development Market Report - Year End 2024

Jan 1, 2025 · 2024 NYC NEW DEVELOPMENT MARKET REPORT & TOP SELLING BUILDINGS OF THE YEAR January 1, 2025. Y-O-Y, contract volume in Manhattan and …

7%
OFF

Inventory Of Homes For Sale Decreased Across NYC In November …

2 weeks from now

Jan 3, 2025 · Over the course of the fall months – September through November – Queens experienced a big boost in new listings in 2024, up 9.7%. Over this period of time, new listings …

qns.com

41%
OFF

New Housing Policy Could Trigger Development Boom In New …

2 weeks from now

May 2, 2024 · In 2023, New York City reported a net rental vacancy rate of 1.41%, the lowest vacancy rate since 1968, according to a survey by the New York City Department of Housing …

forbes.com

6%
OFF

Quarterly New Development Market Report | StreetEasy

2 weeks from now

There were 75,148 rental listings in Q2 2023, up 13.6% year-over-year. In Q1 2023, rental listing inventory rose 8.5% year-over-year. That said, current inventory is still lower than Q2 2019 by …

streeteasy.com

FAQs about NYC New Development Market Report - Year End 2024 Coupon?

Will inventory continue to contract in New York City?

Going forward, we see inventory continuing to contract, and we see the three NYC new development markets – Manhattan, Brooklyn, and Queens – continuing to diverge. In Manhattan, where land is expensive and buildings need to be larger, we expect inventory to dip below three years as few new projects launch. ...

Will New York City's construction market cool down?

As temperatures begin to drop, New York City’s construction market shows no signs of cooling down. ...

How did Manhattan inventory change in 2022?

Manhattan inventory dropped from 5,826 units at year-end 2022 to 4,821 units at year’s end. It would take 3.3 years to absorb these unsold units with an average price of $5.3M. Fewer deals were signed this year, yet inventory still decreased, confirming that the pipeline of new product has slowed. ...

Will New York City real estate be a big year in 2024?

In December the EDC put out a request for proposals for the North Shore Entertainment and Amusement Site near the St. George Ferry Terminal, where an enormous Ferris wheel was once planned. Proposals are due by April 8, 2024. 2024 is poised to be another big year for New York City real estate. ...

How many new homes will New York City build in 2024?

In total, it could create as many as 100,000 new homes, enough for over 250,000 New Yorkers. The public review process is underway, and a final vote by the City Council is expected for fall 2024. ...

Will New York City build a little more housing in every neighborhood?

Instead of burdening landlords with more regulations, which have restricted supply and removed tens of thousands of apartments from the market altogether, the New York City Council voted 31-20 on Dec. 5, 2024, to build “a little more housing in every neighborhood.” ...