Found 4 blog entries tagged as Real Estate Market.

Now the most recent home sales data for Staten Island is in! It is clear that while real estate prices are still very high, market activity is slowing down.

July's average home sale price was $586,155. While this is almost neck in neck with June's average sale price, the price is a trailing indicator since it takes 90 days to close on a typical home sale. The more important figure to look at is the active listings. With active listings at a 2 year high, this means homes are getting harder to sell.

There are certain aspects of the market slowdown that are harder to measure such as expired listings and price reductions. Anecdotally, our realtors have been noticing more price reductions on their listings and less interest in showings, resulting in…

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April marked yet another month for Staten Island real estate prices to hit record highs.

The average home sale price was up to $576,525. But prices are what we call a “trailing indicator”, meaning they reflect the market several months prior to the actual closing date, when the house was first put into acceptance. In this live video discussion, we look to other stats to dissect the market in its current state. 

Even though the market still appears to hold the seller’s favor, with homes selling faster than they have in many months and fetching high prices, there were some strange findings. Inventory is now up to 1,630, with 669 new listings in April. This is considerably higher than the same time last year. 

So when we saw that only 328…

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Early February, Wall Street plunges downward as the DOW Jones sends investors into a panic. How does this compare to other stock market dips of the past? Should we look for warning signs?

Not yet, exactly. This dip in the stock market (which has since recovered) does not represent a crash. The dip would have to be greater for it to be considered a crash, to at least 30%. At around 11%, this is more likely classified as a correction. If it fell further, it would be classified as a bear market.

The important thing to take away is that this may not be cause for panic, yet anyway. Stock market ebbs and flows are a normal part of the economy. We should be on the lookout for changes in the future and it is a fact that this upward spike could not sustain…

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https://www.youtube.com/watch?v=Jz_c1Fk3h44

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…

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