2019 Staten Island Real Estate Market
2019 Year To Date
| 2019 | |||||
| Month | Sales | Average List $ | Average Sale $ | Median Sold |
Average Days on Market
|
| January | 342 | $639,724 | $611,112 | $540,000 | 95 |
| February | 277 | $615,727 | $589,182 | $550,000 | 96 |
| March | 306 | $607,845 | $575,352 | $534,500 | 97 |
| April | 298 | $582,974 | $558,120 | $520,000 | 94 |
| May | 125 | $719,956 | $682,298 | $565,000 | 87 |
| 2018 | |||||
| Month | Sales | Average List $ | Average Sale $ | Median Sold |
Average Days on Market
|
| January | 365 | $640,373 | $620,581 | $550,000 | 81 |
| February | 344 | $584,391 | $564,661 | $552,500 | 93 |
| March | 343 | $592,723 | $570,081 | $540,000 | 97 |
| April | 362 | $593,041 | $570,524 | $550,000 | 87 |
| May | 367 | $586,368 | $565,672 | $540,000 | 102 |
The Staten Island Real Estate Market peaked in 2018. We saw record high sale prices and an abundance of sales. While the market was rising in an unbelievable fashion we witnessed crazy bidding wars and offers well over already shocking asking prices. This was attributed to low-interest rates and a very low inventory. Well, what goes up must come down especially in the world of real estate. As we speak inventory has grown to about 1700 homes and a market has cooled down considerably. Especially for the seller. Prices have gone down but bank interest rates have gone lower. They are currently floating in the low 4's making it a great opportunity for buyers and not a bad opportunity for sellers. Why? Because prices did get out of hand and the market reset itself to "real" asking prices. So as a recap. Because of high inventory low rates and more realistic prices you can expect a busy spring and remainder of 2019!
While this market was transitioning and resetting we had a very stagnant Jan - May 2019. We had only 1348 sales thus far in 2019 compared to this same periods 1781 in 2018.
Want some of this Broker's advise? Contact us here. Get in the game whether you are a Buyer or a Seller. It is a beneficial time for both as we swing toward a true buyer's market. But be patient. It will happen and don't worry. Trust us. We've done this thousands of times. Good Luck!