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Old 08-12-2021, 04:15 PM
 
Location: Manhattan
8,935 posts, read 4,759,816 times
Reputation: 5965

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Seems like real estate is on the rebound.

https://www.brooklynpaper.com/signed...-covid-levels/

The rental market in Brooklyn continues to climb toward — but not yet reaching — pre-pandemic levels.

Listing inventory and new leases continue to grow at a rapid pace, while rental prices, while still down from the same time last year, are slowly ascending, according to a July rental report prepared by appraiser Jonathan Miller of Miller Samuel and published by Douglas Elliman Thursday morning.

According to Miller, the rental market in Brooklyn could see a return to normal by the start of next year.

One thing is for certain: the low rents that became such a topic of conversation during the pandemic are quickly disappearing. In July, the average rental price in Brooklyn was $3,324, a decline of just 2.2 percent, or $74, from the average rental price of $3,398 in July 2020. The average rent per square foot was $47.42 in July, a growth of 2.8 percent from $46.12 the year prior.
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