The overall market of 2013 attracted plenty of buyers but very few sellers.  In December, there were under 2,000 homes available to be sold, which is considered very low.  Now that we are out of the economic housing bubble crisis, people need to be more confident rather than timid, when selling their homes.  A key tip for potential sellers is to know who they are working with and how to obtain the information that is provided to them.  The bank will inform them on how much their home is worth; it is then the seller’s choice whether or not to accept this advice when setting the listing price.



The average listing and sale price has not drastically changed in the last four years.  The average annual listing price for 2013 in Staten Island stood at 438,816 while the average annual sale price was 415,607.  Based on the last four years, the average listing price for this January is expected to exceed the numbers from January 2013.


Fundamentally, if the buyer does not have the income to support the listing price, then the house will continue to stay on the market.  Individual circumstances will determine how successful each home will sell, and if the buyer is ready to settle for what is being offered.  Most people are not selling because they are afraid of change. They’re content with their mortgage and the bills they currently pay. Buyers are more confident with making a move right away.


It took 136 days for 290 homes to be sold for the month of December.  Although, this number is very low, homes still sold fast, and the amount is above the average since the economic crisis.  


There are a reasonable amount of buyers waiting in the wings for the upcoming months in 2014.  Sellers have to understand their current quality of their living expense.  They have to know how the economy is and understand what they can afford when putting their house up for sale.  Homes are selling faster because there are few homes available to be sold.


The real estate market is improving and will continue to improve as long as people continue to sell.  Sellers need to do their research and understand the market when planning to put their home up for sale.

Posted by Anthony Licciardello on


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