Surging Home Prices Come Down For The First Time In Six Months: Staten Island Market Report August 2021Posted by Anthony Licciardello on
For the past year or so low interest rates whipped buyers into a frenzy. Although most stats are still strong in the seller’s favor, July saw a pullback in home prices nearly $30k less than the prior month.
Summer is normally a busy listing season. While listings were back up to a solid total of 593 for the month, July’s new listings still fell short of the last few summers. Both during the pandemic in 2020 and pre-Corona in 2019, new listings in July were still higher.
In addition, the amount of total listings is down significantly. Only 1,553 Staten Island properties were up for sale in July. And since this includes pending sales, the true number of available homes is even lower than that. In July of 2020, Staten Island sellers listed…
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