SIBOR says "if ever there was a year to list or purchase a home, wider economic factors seem to indicate that this is the one." With the change in weather and other factors - this can't be any more true.
New Listings in Staten Island increased 2.9%, pending Sales were up 33.8%. Inventory levels fell 22.5%.
Spring is here and the real estate market is blossoming. Below are inventory reports for March 2014 and March 2015, as well as comparisons.Â
| Month | Year | Monthly Sales | Monthly Volume | Avg Sale $ | Median Sold $ |
|---|---|---|---|---|---|
| March | 2015 | 297 | $122,308,459 | $411,812 | $390,000 |
Comparing March 2015 to last year's month, Staten Island's real estate market had a healthy increase in sale sides from 243 to 297.
| Month | Year | Monthly Sales | Monthly Volume | Avg Sale $ | Median Sold $ |
|---|---|---|---|---|---|
| March | 2014 | 243 | $101,952,444 | $419,557 | $378,000 |
March 2015 hit over $122,000,000 monthly volume - more evidence that Staten Island real estate market is picking up and massive important over the past year!Â
SIBOR's article, Market Trends March 2015, On average, more people are employed and making more money than they were at this time last year. The jobs picture, as a whole, looks promising. Employment drives home-buying activity, so it is ever critical to watch labor statistics as a key indicator for the residential real estate market. Coupled with the mostly positive jobs picture, it is widely expected that mortgage rates will remain as they are for at least the first six months of the year.
Staten Island real estate continues to climb and we are in a seller's market! If you are looking to list your house, don't hesitate to call our office at 718-370-3200.
Posted by Tom Crimmins Realty, Ltd. on
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