Staten Island Housing Market: What’s cooling Down, What’s Heating Up

Staten Island Housing Market Report for July 2024

The housing market in Staten Island, NY, shows some interesting trends based on recent statistics. Here’s what they mean for you, whether you’re thinking of buying or selling a home:

The median sale price of homes is $680,000, indicating that prices are relatively high. If you’re a buyer, this means you’ll need a substantial budget to purchase a home here. For sellers, it’s a positive sign that home values are holding strong, making it a good time to consider listing your property.

Homes are staying on the market for an average of 76 days, suggesting a moderately paced market. It’s not too fast where buyers have to rush, but not so slow that homes are lingering for too long. As a buyer, you’ll have some time to make decisions, but you should still move relatively quickly if you find a home you love. Sellers can expect a reasonable timeframe to find a buyer, though pricing your home competitively is still crucial.

With 4.5 months of inventory and 1,429 active listings, there’s a balanced level of supply and demand. This means there are enough homes for sale to meet buyer interest without creating an oversupply, which helps keep prices stable. Buyers have a fair number of options, and sellers can expect steady interest.

The list-to-sale price ratio is 97%, showing that homes are selling very close to their asking prices. For buyers, this means there isn’t much room for lowball offers, so be prepared to bid near the asking price. For sellers, it indicates that if you price your home correctly, you’re likely to get offers close to your desired amount.

Overall, the Staten Island housing market appears stable with healthy activity. It’s a favorable market for both buying and selling, with reasonable inventory levels and strong price points. Whether you’re looking to enter the market or make a sale, the current conditions suggest a balanced and steady environment.

The housing market may seem confusing right now, but with the right information and a focus on local data, you can navigate it confidently. For an even more personalized data report for your home or neighborhood, reach out to me here. CONTACT ME