With listing activity down sharply this month, the market came back swinging toward sellers' favor in our latest figures.
Although the average sale price was down by 2% since January, it remains level with last year. The average Staten Island property sold for $614,253 in February, neck-in-neck with February 2021’s average price of $613,564. Most people will fixate on sale prices. But price is a trailing indicator.
We can predict the future in a way if we look at certain numbers. New real estate listings dropped by a full 32% to just 381. This is concerning since February and March kickstart the spring listing season. Last year, 560 homes were listed in February.
Next, let’s look at active inventory. Total active listings dropped 25%…