About Staten Island

Found 34 blog entries about About Staten Island.

"The real estate market is changing."

It's a phrase we have been uttering for many months now, drawing in leading indicators to do so. But what does that mean for a seller? A homeowner who is unsure what to do when the wisdom learned over the past few years are suddenly invalid because everything is in a state of flux?

That's the topic of our latest live video discussion with PR Director Hannah Jay and RealEstateSINY.com Broker/Co-Owner Anthony Licciardello. This talk is designed for either someone getting ready to sell in a changing market, or somebody who has already struggled to generate interest in their home because the market is changing too fast to keep up.

We get into some of the reasons the market could be changing- largely,

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Welcome to 2019! It's hard to believe we just finished off another year. Our year covering real estate and local events in Staten Island has taught us a few things, and we cover the past month and year in January's market discussion here via Facebook Live!

Now that we have December's numbers in, a clear price drop of about $10,000 was observed since the previous month of November's average. Current data for December puts the average sale price at $588,613. Up in the air was the question of whether or not average home sale prices on Staten Island WOULD top $600k by the end of 2018. Ironically, the adjusted average for November (numbers always fluctuate a little after the initial stats release) ended up being $599,999- the irony is real.

In

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What are your shopping habits for the holidays? Do you shop mostly online, or do you still love the traditional experience of shopping in person? In our latest Facebook live video, PR Director Hannah Jay and Broker/Co-Owner Anthony Licciardello get into large-scale developments happening right now in Staten Island's retail sector.

First, the elephant in the room is the Empire Outlets. Just this development alone is slated to house 1.1 million square feet of retail- including a 33,000 square foot H&M and 30,000 square foot Nordstrom Rack!

Also on the horizon are a total of 4 new movie theatres, including an IMAX and dine-in cinema and brewery. Currently, we have just two movie theatres. While two might be too few, is 6 more than we need?

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This real estate market seems to get stranger and stranger. With prices reaching an all-time high yet again, sales are down and inventory is up. Days on the market are also up. This appears to contradict supply and demand- if homes are selling more slowly and inventory is fairly high, why then is the average price going up?

November's average home sale price came in at $597,426. This makes it very likely that sold prices will reach (or top) an average of $600,000 by the end of 2018.

Inventory is a different story though. It has remained basically unchanged for seven months in a row now at roughly 2,000 homes on the market. And sales are also down about 5% since last year. Just 360 homes sold on Staten Island last month. So why the high prices?

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Here in Staten Island, we want to keep on top of what is being built in our neighborhoods!

Whether you're the type who goes to town halls as a concerned citizen or you just wanna have fun, we wanted to do a segment all about the large-scale developments soon to be completed and opened on Staten Island! From the North to the South Shore and in-between, we have collected an array of different developments that we'll take you through, one by one!

We'll be getting some awesome and unique new shop and restaurant concepts, including a restaurant and craft beer house inside a cinema! With added amenities comes added value; these commercial developments may enhance the area and cause a rise in real estate and home values here in the fifth borough of New

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We always try to keep on top of Staten Island's real estate progress. And there is always much to talk about with this ever-changing borough!

But it's also interesting to reminisce on those projects lost to the wind too. What could have been, you may wonder? Were they better off unfinished?

So in reverse order, let's count down the Top 6 White Elephants in Staten Island real estate before these strange events are left in the sands of time.

6. Fast Ferry

 

 

We are certainly grateful to have a free 24/7 ferry leaving from St. George every 30 minutes that docks in Manhattan. However, residents on Staten Island's South Shore face the longest commute times in the country- about a quarter of them have commutes of at least two hours each

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Is the Staten Island market topping out, finally?

Not so fast- it’s still a hot market and may be too early to call, but several key indicators were down in May. Average sale prices fell around $10,000 since the month of April to $566,449. Sold-to-list price ratio dropped about half a percentage point to 97%. In fact, this pullback is almost a mirror of February’s numbers, when we were unsure how long the prices would continue to rise.

The total sold volume was down slightly as well, and has been leveling out in general over the past four months. Total sold volume in Staten Island was $189 million in May, down $193 million in April.

Prices are, however, trailing indicators since it often takes several months for deals to close. Days on the

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April marked yet another month for Staten Island real estate prices to hit record highs.

The average home sale price was up to $576,525. But prices are what we call a “trailing indicator”, meaning they reflect the market several months prior to the actual closing date, when the house was first put into acceptance. In this live video discussion, we look to other stats to dissect the market in its current state. 

Even though the market still appears to hold the seller’s favor, with homes selling faster than they have in many months and fetching high prices, there were some strange findings. Inventory is now up to 1,630, with 669 new listings in April. This is considerably higher than the same time last year. 

So when we saw that only 328

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Staten Island was once a very different place than it is today. So many of the things we take for granted about our way of life were not always this way. In this live video segment, we tackle the Top Ten events that changed Staten Island forever.

Correspondent Hannah Jay and Broker/Co-Owner Anthony Licciardello run the gamut through more than three centuries taking us into the modern day. Who were the first European settlers on Staten Island? How much did Staten Island cost to purchase from the Lenape tribe? And, how did people get to the island before the first bridge was built in 1928? What was the main event that changed the infrastructure, demographics, and culture of Staten Island in such a short time?

But many of these events are

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It's story time! Our most recent Facebook live video goes into the Top 3 biggest real estate disasters witnessed by the company during the years we have been serving buyers and sellers. One of these deals went down in flames (literally)! 

We also give some tips on how to avoid making the biggest mistakes we've witnessed over the years. In essence, selling a home is typically an emotional process for all those involved. Because so much emotion is invested- between packing up and settling elsewhere, leaving behind a place filled with so many memories, and perceiving a higher sense of value in your home than the market actually demands- these high stakes often lead to rash decisions. Understanding market fundamentals and looking at things with a

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