All around the nation, mortgage rates have been rising for the first time since the start of the pandemic. Home prices have begun to stabilize after their breakneck climb.
Here in our local markets, Staten Island and The Jersey Shore, we do see some similarities between the two. But there are pronounced differences between buying and selling in these two areas.
Breakdown: Staten Island and New Jersey Real Estate, March 2022
Staten Island is the more stable market of these two. The Jersey Shore market is more volatile. Staten Island home prices remained about the same in February as they did in January. The average Staten Island home sold for $710,776 last month.
In Monmouth and Ocean Counties, prices came down quite a bit.…