The number of MLS-listed homes and condos available for rent in the 14 downtown ZIP Codes that we track fell from 1,150 three weeks ago to 1,059 yesterday. That’s a reduction of about 8% over the period, consistent with the drops that we’ve seen during prior year-end holiday periods.
The inventory of available MLS-listed downtown rentals was 51% higher yesterday than at the same time a year ago.
The new downtown apartment towers have put downward pressure on rents recently, which may prompt some condo owners who’ve seen the value of the units they’ve been renting increase to place them on the market for sale.
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