February Market Statistics Discussion- Stock Market Unease Didn't Hurt Buyer Confidence

Posted by Anthony Licciardello on Friday, March 9th, 2018 at 5:26pm.

February's home prices are still very close to record highs in Staten Island as developers and residents alike clamor for their own piece of the pie. The average home sale price last month was $558,102, down about 1% from the January's record high.

The US stock market had a rocky performance in the month of February. While some this shake-up caused some speculation that the fall would continue, the DOW has recovered for the most part. Looking at real estate statistics, which include the average days listed on the market of just 88, buyer confidence in Staten Island did not seem to be hurt at all.

Though the market still hangs in the seller's favor, a substantial listings increase since last year gives buyers more options. February saw 510 new homes listed on the market, compared to 457 in February 2017. Prices would likely be even higher if there were fewer listings on the market like last year.

We do have some good news for commuters in Staten Island - faster bus service is on the horizon! A plan was announced last week by the city to speed up bus travel, the main public transit for the borough. Local bus routes will eliminate stops with low ridership so they will need to make fewer stops total. Though this will mean some commuters will need to walk a little further to their nearest bus stop, Borough President James Oddo claims walking times will increase by 5 minutes or more for only 1% of riders.

Plus, what's the deal with Thundersnow?! Watch the full video below, hosted by PR Coordinator Hannah Jay and Broker and Co-Owner Anthony Licciardello.

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