STATEN ISLAND, N.Y. (January 10, 2025)  – The median sales price of Staten Island homes held steady at $700,000 in December, matching prices of the same month a year earlier, according to the latest data from the Staten Island Board of Realtors® (SIBOR).

The newly released report shows new listings in the borough increased 18.3 percent to 246 last month, as compared to December of the previous year.

When measured against December 2023, pending sales on the Island were up 22.5 percent to 289 last month; inventory levels fell 27.5 percent to 859 units, and the days on market statistic was down 11 percent to 65 days.

Staten Island home sellers were encouraged last month as the “months supply of inventory” was down 32.6 percent to 2.6 months.

“The Staten Island market in 2024 was almost a repeat of the previous year. New listings and closed sales were up 2 to 3 percent and both median and average sale prices rose around 4 percent,” said Sandy Krueger, CEO of SIBOR. “We look forward to a more vigorous market in the new year. As we move further away from the pandemic, the market is moving to a post-Covid norm.”

NATIONAL TREND

U.S. existing-home sales improved for the second consecutive month, rising 4.8 percent to a seasonally adjusted annual rate of 4.15 million units, an eight-month high, according to the National Association of REALTORS® (NAR).

Sales were up 6.1 percent compared to the same time last year, marking the largest year-over-year increase since June 2021. Economists had forecast existing-home sales would come in at an annual rate of 4.07 million units for the month.

Total housing inventory stood at 1.33 million units heading into December, a 2.9 percent decrease from the previous month but a 17.7 percent increase year-over-year, for a 3.8-month supply at the current sales pace. Inventory remains below the 5–6 months’ supply of a balanced market, and the limited number of homes for sale continues to put upward pressure on sales prices nationwide, with NAR reporting a median existing-home price of $406,100, a 4.7 percent increase from one year earlier.

About the Staten Island Board of Realtors® (SIBOR)
and Staten Island Multiple Listing Service (SIMLS)

Established in 1915, the Staten Island Board of Realtors® (SIBOR) is the largest professional 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 2,300 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 275 local real estate firms exchange information on properties they have listed for sale or rent. Together, its members participate in approximately 5,000 real estate transactions every year.

SIMLS is the premier source for real estate listings and market information on Staten Island, providing real estate professionals and the community with a comprehensive platform for property listings, market data, and professional development opportunities.

All SIBOR Realtors belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).

SIBOR and the SIMLS may be reached at 718-928-3220 and viewed online at MLSsiny.com. SIBOR may also be visited on Facebook at Staten Island Board of Realtors, Twitter via @SIBOR, LinkedIn (Staten Island Board of Realtors) and Instagram at SIBOR REALTORS (siborrealtors).

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Media Contact: Barton Horowitz
Relevant Public Relations, LLC
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