Summer's market comes to an end: Staten Island (Richmond County) and Jersey Shore (Ocean and Monmouth County) Market Report: October 2022
With mortgage rates now arching toward 7%, the feds have tampered demand for housing in the US. But each market tells a different story.
Staten Island home prices recovered somewhat from their historic decline between August and September. We witnessed the largest monthly price drop in history for Richmond County, with home prices falling over $55,000 during this short time period. But the average sale price came back up by about $18,000 to reach $707,820 in October. Not bad, especially when you consider the trend line is still moving up overall.
On the Jersey Shore, home prices have somewhat…