STATEN ISLAND, N.Y — The latest figures released by the Staten Island Board of Realtors (SIBOR) show new listings in the borough increased 5.2 percent to 631 during the combined months of February, March and April, as compared to the same three-month period a year ago.
Pending Sales were up 45.9 percent to 356, while inventory levels shrank 30.6 percent to 2,407 units.
The Case-Shiller Home Price Index recently showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years.
At long last, major national indices are telling the story that local MLS data users have known for months or even years. Yes, the housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.
On Staten Island, prices fell a bit. The Median Sales Price, as compared to the same period last year, decreased 3.8 percent to $375,000, and the “Days on Market” figure was down 6.1 percent to 171 days. Absorption rates improved as Months Supply of Inventory was down 41.3 percent to 9.4 months.
The prickliest thorns in our collective side are still lack of inventory and subdued listing activity.
In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That’s causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.
About 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 718-979-0007 and viewed online athttp://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors,” on Twitter via @SIBOR, and on YouTube at theStaten 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]
