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 homes sold in April, this definitely raises eyebrows. With a market that appears to sway in the seller’s favor so strongly otherwise, why are so few homes actually selling?
We tackle these questions, along with some other indicators such as the shrinking price reduction trend. It’s an interesting time for real estate in Staten Island!
Join Anthony Licciardello and PR coordinator Hannah Jay extracting the meaning behind all the charts and graphs in a video discussion broadcast LIVE on Facebook!