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STATEN ISLAND'S REAL ESTATE MARKET REPORT FOR JANUARY

The housing market for Staten Island is improving, but it’s not stable quite yet.

Although the number of available homes on the market is still on the low end, more homeowners showed an interest in selling for the month of January. This past month, there was 1772 homes available for sale. Of the 1772 homes, only 292 actually sold in January. The total month’s inventory of 246 took 132 days to sell, meaning it would take roughly 7.2 months to clear out the inventory. 

January proved that there are enough available homes being sold but not enough buyers. For the market to gain traction, people need to continue moving rather than remodeling their current home space.

Home sales in Staten Island…

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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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