New York City Furnished Apartment Market Report - 1st Half 2008
I. New York Vacation Rental Apartments
Average, Median and Mode by apartment type: 1st half 2006, 2007 and 2008
Average Median Mode
Three Bedrooms or larger
To have a more detailed look at pricing in the current market, we include statistics on the aver- age, median and mode prices for vacation rental apartments by type. The average rental price by apartment type gives an idea about what prices can be expected in each size category and how each size is affecting the market as a whole. What we have seen is that studio and one bedroom apartments have risen in price by a greater degree than two bedroom apartments and larger. Prices of both studios and one bedroom apartments have seen increases of at least 20% from 2006 to 2008 while two bedroom apartments saw a 9% increase in price and three bedroom and larger apartments saw a 15% increase in price.
One thing that we have seen is that the price by type tends to show fluctuations between the 1 and 2nd half of the year and that the stability of these figures is difficult to predict.
Section I: New York Vacation Rental Apartments
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