Tagged : real estate market statistics

Found 3 blog entries tagged as "real estate market statistics".

Staten Island's real estate market is not slowing down. Prices hit an all-time high again in June. But are the fundamentals really there?

Based on the data we just received for the month of June, things are not robust in the seller's favor like they were last year. Active listings have slowly crept up, now at a two year high of 1,931. But closed sales lag behind last year, at just 383 homes closed on last month.

The average home sale price in June was $586,941. This is the highest we have ever experienced in the Staten Island market! And also about $20,000 higher than last month. However, prices are actually a trailing indicator. Because it takes around 3 months to close a home sale, this is more indicative of where the market was in March.

The

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This month's real estate snapshot was telling, and may forecast some big changes in the future.

Active listings were way up in May. At 1,892, this represents a high we have not seen in several years. This would not be so noteworthy if sales were up as well, but closed sales have stayed flat for four months now while active listings continue to rise. Closed sales remain stagnant at just about 300. Obviously, lots of homes listed have continued to go unsold.

It appears (though we'll have to follow this trend in the coming months) that demand may be slipping on the buyer side. Home affordability has really become an issue. Average home sale prices were down about $10,000 to $566,449.

But this is not cause to panic for sellers- we've seen

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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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