Company News at Prodigy Real Estate RSS Feed

Inventory is down, prices are up, and sold listings are up too. The market is still clearly in favor of sellers. But for how long?

This past month, the average home sale price rang in at $653,519. Prices have been rising ever since the pandemic started last year, when home prices were $608,817. In a year, home prices have increased 7.5%.

Active listings fell 19% since last year too. There are currently only 1,517 homes for sale in Staten Island; last year 1,874 properties were available. Housing supply has now dwindled every month for an entire year since lockdown ended last June 2020. A tighter supply will of course increase demand, and the amount of new listings has not been keeping pace with the rise in sales.

In the month of May…

By every single measure we have, home sales came in swinging this month, crushing previous record highs.

The average home sold for $628,449 in April, up 5% over last year and $15k above the prior month of March. $628,449 is a record-breaking sale price, outpacing January’s previous record of $626,468.

Home sale prices have the most fanfare, but we really need to look at inventory to tell the whole story. Both sold listings and new listings were up astronomically, though I’m sure you can probably guess why. 406 homes sold in the month of April compared to just 153 in April of 2020. The pandemic hit in March full force and the whole world stopped. This explains the outlier in home sales and also new listings, which jumped more than sixfold…

For the second month in a row now, home prices remained pretty much exactly the same. March’s average sale price came in at $614,312. This is less than $100 more than the prior month’s average of $614,253, and down from January’s record-breaking high of $628,652.

Housing Inventory Tightens

Yet, this comes along with reduced inventory, which normally pushes prices up. Active listings are down to a stunning 1,499. One year ago, 2,189 homes were up for sale here in Richmond County. This means available homes have dropped 32% in one year. But prices increased only 6% since 2020, when the average home sold in March for $578,773.

Home sales have surged nearly 70% year over year as well. In March 2021, 452 home sales closed, compared to…

After a bit of a hiatus, we finally sat down to talk the latest real estate market data we have- and much of it will surprise you!

There's a lot to unpack here. First, the average home sale price of $570k fell over the previous month, and last year. This is the FIRST time this has happened in several years, and offers pretty strong proof that the market has slowed down. For the last six months, prices had fluctuated but still remained higher than the previous year.

We also had just 261 sales last month! Again, the slowest activity we have seen in 2+ years, this time when it comes to sales volume. We do have a good clue as to why this is happening. Even though the average sale price is $4k LESS than last year, the average new list price is…

 RealEstateSINY.com is happy to show you around 115 Ambassador Lane! This 3 bedroom, 3 bath semi-attached home stands at over 1,700 square feet. With a finished basement and a beautiful backyard, you’ll be amazed by how much space you’ll have here!

Located in Pleasant Plains, this South Shore home is beautifully redone from top to bottom. The pleasing brick front has an elegant wooden door with glass detail. Let’s take a look at the inside!

First Impressions Inside 115 Ambassador Lane

When you first enter, you’ll find yourself in this living-dining room combination area with a spiral staircase made of oak and wrought iron railings. This home has a classic sense to it with bright oak wood flooring, Venetian plaster detailing on the walls,…

New on the market- beautifully updated co-op at 20 Cliff Street, 5J. This one bedroom, one bath unit is spacious at around 700 square feet, located in the desirable neighborhood of Shore Acres!

This fifth-floor apartment boasts Manhattan-style luxury with views of the city skyline! Just across the river from Brooklyn, you can walk outside and get sweeping Verrazano Bridge views.

Seacliff Towers is a modern cooperative building in clean blue and white. This wonderful community offers a gym, clubhouse, storage, and outdoor heated pool. Dedicated parking is also available for just $40/month. Take a virtual tour with us up to unit 5J!

Inside the Building: 20 Cliff Street

If you're searching for urban life in mostly suburban Staten Island, you…

So much has happened over the last ten years in real estate! Between a recession that was in full force circa 2009, through the recovery, and into a rapidly accelerating market followed by a slowdown... we've pretty much seen it all.

So for our latest live video discussion, we decided to sit down and talk about the past decade and what lessons we have learned selling real estate in an ever-changing market. Broker and co-owner of RealEstateSINY.com Anthony Licciardello is interviewed to tell the story. He has been selling real estate since 2007, the onset of The Great Recession.

We talk about how home values fell during the recession, though not as much as you may think. The NY Metro area fared better than most of the country since New York is…

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…

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…

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?