This month’s featured market is Staten Island – heating up just in time for a New York summer! Over the past month, new listings in Staten Island have increased 4.3% and pending sales are up 19%. Inventory levels have fallen 21.4% as prices continue to gain traction and days on market decrease. Staten Island homes are selling quickly and REALTORS® are encouraging those thinking of selling their home to get it listed NOW to capitalize on this trending market. According to Claire Chesnoff of Claire Properties in New Dorp, “Sellers are at a point where they can get such top dollar for their homes if they’ve been kept in good condition and they are being reasonable about what their house is worth.”

The average time a Staten Island home was on the market from January to May 2014 was 172 days – compare that to just 16 days during the same time period this year! Average list prices are up 5.4% year over year and the total number of price reductions is down to the lowest point in over two years. With development of the North Shore area, the excitement for the Staten Island market is heating up and the influx of buyers will only continue to grow throughout the summer.

Check out the “Staten Island” 30 day snapshot below:

Source: ListHub Reports for Staten Island Board of REALTORS® – May 1-31, 2015

Interested in being our featured market?
Email marketing@listhub.com.