STATEN ISLAND, N.Y. – With new home-listings on Staten Island showing a 5.3 percent decrease in March, and inventory levels having dropped 31.2 percent, buyers are purchasing their homes with an eye on smart economics, according to the Staten Island Board of Realtors (SIBOR).
“Buyers want to get into the market, but unlike the rising-price sales environment of ten years ago, people are not diving headlong into risky mortgages or uncomfortable situations. This carefulness should be celebrated,” said Claire Bisignano Chesnoff, president of SIBOR.
“Housing trends do not exist in a vacuum,” Ms. Bisignano Chesnoff added. “National housing trends, like the steady rise in home prices and decline in inventory, should certainly be observed with care, but tracking wider economic conditions is also necessary.”
In March, Staten Island experienced a 13.5 percent rise in pending home sales. Prices continued to gain traction. The Median Sales Price increased 1.8 percent to $417,450. Days on Market was down 30.1 percent to 115 days.
About The Staten Island Board of REALTORS® (SIBOR)
Having marked its 100th anniversary in October 2015, the Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit professional and trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically, and promote the preservation of the public’s right to own, transfer and use real property.
Comprised of approximately 1,800 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,700 real estate transactions every year.
All SIBOR Realtors belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-928-3220 and viewed online at www.SIBOR.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors” and on Twitter via @SIBOR.