Median rental prices in Manhattan increased to their highest level for a December month and the number of new leases fell as contrasting numbers were recently reported from the real estate market.
The average rental price went up 0.6 percent monthly and 12.9 percent yearly to reach $4,440, and the more-widely monitored and reported median rental metric, including landlord concessions, increased 0.7 percent monthly and a significant 21.1 percent yearly to record $3,392 in December, according to a December report by real estate appraisers Douglas Elliman.
