All Blog Entries by Anthony Licciardello

Found 2,498 blog entries published by Anthony Licciardello.

In the Staten Island market, Chinese buyers have shown the most interest in properties near the Verrazano-Narrows Bridge

 

Foreign investment activity can be a litmus test for the real estate market conditions. And lately, it has practically slowed to a crawl.

Over the past several years in New York City, real estate has been heavily propped up by Chinese investments. This has been a major vehicle driving more intense bidding wars and rising prices, particularly through the period of 2015-2017.

The New York Metro area has the largest foreign buyer pool in the United States. While the city has long been known for its high-priced real estate, foreign capital has been instrumental in pushing values to record highs over the past five years.

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Come join us this weekend for an Open House at 172 Woodvale Ave, Staten Island, NY 10309

Saturday, March 16th, 12pm-2pm

Directions: Woodvale is connected directly to Amboy Road and Hylan Blvd

Don't miss your chance see this stunning two family center hall colonial, featuring a master suite with it's own private bath, 3 additional bedrooms, and 1.5 additional bathrooms. There is also a 1 bedroom apartment with private entrance. This house sits on a large lot and boasts lots of room inside and outside of the house. Truly a must see!

For more information on this home please contact Elizabeth Del Priore at 917-816-1519

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Pictured: RealEstateSINY.com aerial drone shot of Empire Outlets under construction, June 2018.)

New York City’s debut outlet center will reportedly open in mid-April, according to the Staten Island Advance.

Travis Noyes, Empire Outlets’ Senior Vice President of Marketing, revealed to the Advance that the six building, 1.1 million square foot shopping center located on the St. George waterfront will open in phases beginning with a ribbon cutting April 17. The following day will have a grand opening with a portion of retail shops ready for business.

The remainder of stores are slated to open between April and August. Anchor retailer Nordstrom has been confirmed to open on July 4. Other major brands include H&M and Nike Factory Outlet.

The

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(Above: Average sale price climb decelerating over the past two years)

 

The real estate market continues to level out this month in essentially every measurable way. It’s a far cry from what we saw during the same time last year.

This month’s sales dipped far below what they were last month, setting a new low for the past few years at just 259. Days on the market and cumulative days on the market are each up to a two-year high at 97 and 102 respectively.

We predicted monthly inventory to rise above six months, but did not expect to exceed seven this soon. Month’s inventory was 7.21- also the highest in more than two years. And inventory was up again to 1868, despite new listings actually being down from January.

Average Sale Price

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Now that February's full stats are in, we were able to sit down and break them down for Staten Islanders in our latest Facebook live stream. This month had a few smoking guns!

Several of our market indicators were the slowest economic markers we have seen in 2-3 years. To start, home sales fell to an astounding 259. That's just 259 homes sold in the entire borough of Staten Island for the whole month! Comparing that to last February when 320 homes sold, this represents a 19% drop.

Cumulative days on the market is also at a two-year high. Homes take an average of 102 days to sell at this time. Last year, CDOM was 16 points lower at 86 days. So fewer and fewer homes are selling, plus they are selling more and more slowly.

SO... the fact

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We're back after our month hiatus!! Since Anthony's health has improved enough to return to work, we're making up for lost time with January's market report rundown before returning shortly to cover the market's performance in February.

January 2019 saw a huge drop in sales over the prior year, falling to just 307 homes sold. Though the price increased a few thousand since the prior month, it is up just $10,000 over the prior year. This shows that homes are holding their value and not falling in price necessarily, but not rising like they were in prior years. The last January year-over-year comparison saw a striking $60,000 increase in average sale price.

With sales down so much and inventory also back up at 1,868, all indicators but

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Come join us this weekend for an Open House at 204 Stobe Ave, Staten Island, NY 10306

Sunday, March 10th, 12pm-2pm

Directions: Hylan Avenue to Stobe Avenue

Don't miss the chance to see this single family semi-attached Colonial house with 3 bedrooms and 2.5 bathrooms. Perfect for those commuting to Brooklyn, just a walk to Hylan Blvd, close to shopping and transportation. This home was recently beautifully renovated. Plenty of storage. A fully tiled living room and dining room combo, as well as a fully renovated new bathroom.  It’s got high ceilings, a laundry area, and shower. You won’t want to miss the chance to see this property!

For more information on this home please contact Elizabeth Del Priore at 917-816-1519

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Are you somewhat mystified by looking at a CMA, aka Comparable Market Analysis? Since this packet can be lengthy and contain lots of information (and can be a bit tedious) we wanted to sit down and go over it with our viewers.

So what is a CMA? Essentially, it is a list of properties comparable to yours- we usually call these "comps." Comps should be located in the same neighborhood and share many of the same traits- square footage, number of bedrooms, garage or basement, and property condition to name a few. Comps should also be sold fairly recently since the real estate market is always changing. Your own home's price today is probably not the same as it was 4 years ago, so you should not be looking at comps that old in a CMA.

When a

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Just listed! A cozy New Springville condominium is now on the market. With one bedroom and one bathroom, 5 Windham Loop #4E is a great starter home or for someone looking to downsize. In a quiet development, this unit is clean and well-kept.

The Elmwood Park Condominiums are centrally located in a modern high rise building surrounded by one of Staten Island's most convenient areas. Nearby are practically all amenities one could need or ask for. Living in this condo unit includes indoor garage parking as well!

Head up to the fourth floor of 5 Windham Loop to arrive at this unit. Once inside, you're greeted with wood flooring and a large closet in the living room. At the living room's opposite side are sliding doors leading to a terrace

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Come join us this weekend for an Open House at 55 Leslie Ave, Staten Island, NY 10305

Saturday February 16th from 12-2pm 

 

Don't miss the chance to see this single family detached Colonial house with 4 bedrooms and 3 bathrooms. Recently updated, this house has custom made kitchen, with matching custom cabinets for dining room. Home features radiant heat floors throughout the kitchen, foyer, living and dining rooms. This home has an extra large family room with fireplace, master bedroom with 2 walk in closets, and master bath with jacuzzi, & stand up shower. Full finished basement. Extra large yard with a lot of privacy. *** This house is to be sold AS IS, under market value and buyer is agreeing to take responsibility for violations

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