Staten Island Real Estate Market Trends

Beautiful home
Status: Sold

87 Bay Terrace, Staten Island, NY 10306

Price: $920000

6 Bedrooms

3 Bathrooms [ 3 Full ]

1148733

Beautiful home
Status: Active

9 Waterside Parkway, Staten Island, NY

Price: $500,000

3 Bedrooms

2 Bathrooms [ 1 Full, 1 Half ]

1144716

Staten Island Real Estate Market Trends

The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac.

The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant impact on refinance applications, which are down more than 70% compared to this time last year.

As the rising costs of homeownership force many Americans to adjust their budgets, an increasing number of buyers are hoping to help offset the costs by moving from bigger, more expensive cities to smaller areas that offer a more affordable cost of living.

Affordability challenges are limiting buying activity, and early signs suggest competition for homes may be cooling somewhat. Nationally, existing home sales are down 2.7% as of last measure, while pending sales dropped 1.2%, marking 5 straight months of under contract declines, according to the National Association of REALTORS®.


The Latest Numbers for April 2022 [as compared to April 2021]

  • New Listings on Staten Island were down over 14%  to 604 homes available for sale.
  • Pending Sales plummeted more than 20% to 426 homes under contract.
  • Inventory levels decreased sharply by  31+% to just 1,226 listings available for sale
  • The Median Sales Price increased 12.5% to $669,500 as prices continue their ascent
  • Days on Market was down 31% to 71 days.
  • Sellers are still in control as Months Supply of Inventory was down 32+% to 2.8 months supply.

A few highlights of the current Staten Island, NY Housing market are shown below and represents properties available for sale, in contract and that have sold/closed.

This Month’s Most Expensive - The most expensive of all Staten Island, NY homes listed for sale this month was listed for $2,800,000. A Magnificent Colonial Style Home with Panoramic water views. Click here to see it >> 98 Seacrest Ave.

This Month’s Least Expensive - The least expensive of all Staten Island, NY homes for sale came on the market at $298,000 and is an upgraded condo. Click here to see >>508 Lisk Ave

Go to Staten Island Real Estate Update access the entire report.

Data provided by SIBOR.

Reviews

Highly likely to recommend

John was absolutely fantastic in assisting me with finding the perfect home for me. He was immensely attentive, professional and treated me like family. He's an absolute real estate star who truly loves ...

Read more 06/23/2022 - Christina Christodoulopoulou.
Helped me rent a home in Staten Island, New York, NY 10308.

Highly likely to recommend

Everything went very smoothe from showing me the apartment to setting up a meeting with the landlord. John was very professional and I was very happy. I would recommend John’s services to people I ...

Read more 12/16/2020 - Iris Gagliardi
Helped me rent a single family home in Staten Island, New York, NY 10312.

Highly likely to recommend

Very knowledgeable and helpful. The whole experience could not have gone better thanks to John Martelotti. He responded immediately to all questions and concerns. He let me know the overall plan as well ...

Read more 11/19/2020 - kadelyn1028
Sold a town home in 2020 for approximately $525K in Staten Island, New York, NY 10304.

Highly likely to recommend

Good service and excellent communication, would recommend to friends. Helped me find a great apartment that I am happy to be living in for the next 2 years!!!!

Read more 08/04/2020 - Danielle Woodman
Helped me rent a single family home in Staten Island, New York, NY 10305.

Highly likely to recommend

I highly recommend John in helping anyone find a home. My experience with John was great! He is very knowledgeable on every aspect of purchasing a home super patient and honest ! ??

Read more 07/24/2020 - Jackie reno
Bought a single family home in 2020 for approximately $325K in Staten Island, New York, NY 10314.

Highly likely to recommend

Words don’t express how great John and experienced he is. He got my property rented within 2 weeks!! His professionalism calmed my fears and made me feel at ease every step of the way.

Read more 10/12/2019 - Cindyng12000
Found a tenant for a single family home in Staten Island, New York, NY 10304.

© Zillow, Inc., 2006-2018. Use is subject to Terms of Use
What's a Zestimate?

Zillow Real Estate Search
Schedule a Tour

Choose your date. It's free cancel anytime.