Homebuyers and sellers in  New York state are readying themselves for an exciting spring market, suggest the latest figures released by the New York State Association of REALTORS.

Pending Home Sales in New York state increased 9.8 percent in February.

Buyers are motivated by an attractive affordability environment, while more and more sellers are receiving near top dollar for their home.

We’ve come a long way over the past 12 to 18 months — but we’re not there yet.

Here’s how February stacked up:

  • New Listings were down 12.8 percent to 14,273.
  • Pending Sales increased 9.8 percent to 7,774.
  • Inventory shrank 19.5 percent to 75,475 units.
  • Prices reached skyward as the Median Sales Price was up 4.8 percent to$220,000.
  • Days on Market decreased 0.7 percent to 134 days.
  • Months Supply of Inventory was down 27.6 percent to 8.9 months, indicating that demand increased relative to supply.

A few consumers may feel less confident due to Washington’s latest self-inflicted crisis. Others would advise not to read the news in the first place.

The fact is, the economy continues to grow, but at a snail’s pace. Sequestration is more of a nuisance than a real threat to recovery; and there’s significant pent–up demand from renters, first-timers, parental basement dwellers and investors to counteract it.

Thank you for visiting the blog site of the Staten Island Board of REALTORS® (SIBOR)

The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit 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 to promote the preservation of the public’s right to own, transfer and use real property.

Comprised of over 1,600 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 3,000 real estate transactions every year.

All SIBOR members 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 http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.

Media Contact: Barton Horowitz

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: [email protected]