STATEN ISLAND, N.Y. – The median sales price of a Staten Island home reached new levels in October, hitting a high of $724,444.
But the housing market also experienced a gain in pending sales, which saw an increase of more than 10%, according to the latest report from the Staten Island Board of Realtors (SIBOR) . As shown in the newly released data, October’s pending sales in the borough hit 361 last month, a significant bump from a figure of 328 in 2023. Inventory levels, however, fell 19.
6% to just 1,118 units, and new listings decreased 6.3% to 414. RECOMMENDED • silive .
com Former Staten Island Catholic school to be demolished, rebuilt as early childhood center Nov. 15, 2024, 5:50 a.m.
Staten Island Home of the Week: Luxurious 5-level residence with harbor views, listed for $3.2M Nov. 17, 2024, 5:30 a.
m. “The average sales price ($783,649) is higher than the median ($724,444) by 8.2%, indicating that the first-time buyer is still at a disadvantage in our market,” said Sandy Krueger, CEO of SIBOR.
On a larger level, the National Association of Realtors reported that home prices have continued to rise across the country, with a median existing-home price of $404,500 -- a 3% increase from one year ago. “Even with improving supply and the slower sales pace, home prices have continued to rise nationwide,” SIBOR’s report continued. “Prospective buyers have pulled back in recent months, despite lower mortgage rates and more home choices .
.. U.
S. existing-home s.
