New York Real Estate Search Trends Q3 2023
Pursuit has compiled our quarterly search volume report, detailing apartment and condo search trends for the 3rd Quart of 2023, looking back to 2019.
Over the last 4 years we have see unprecedented growth in searches for New York condominiums. In 2023, we saw a significant slow down in the 2nd Quarter, and a slight uptick in searches for this quarter. The flattening of the trend line seems to be level at just over 100,000 searches per month.
We can see that searches have actually risen from last quarter, and are nearing 2022 numbers.
NYC Rental Apartment Data
New York Apartment rental searches saw a nice increase from July to August, only to decrease again in September. This continues to the downward trend from the rental market peak in 2022.
Overall apartment searches are down over 10% from last year and 2021.
Long Island City still remains the most searched neighborhood in New York City, followed by Williamsburg. Chelsea remains a strong #3 as well as the West Village. Interestingly, the West Village, Tribeca and Soho were the only neighborhoods to increase searches in 2023.