April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the
market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.
New Listings in Staten Island increased 522.6 percent to 660. Pending Sales were up 407.4 percent to 548. Inventory levels fell 28.1 percent to 1,452 units. Prices continued to gain traction. The Median Sales Price increased 4.0 percent
to $593,000. Days on Market was down 5.7 percent to 104 days. Sellers were encouraged as Months Supply of Inventory was down 47.5 percent to 3.3 months.
In the spirit of the great Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to
watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.
|+ 158.4%||+4.0%||- 28.1%|
|One-Year Change in Closed Sales||One-Year Change in Median Sales Price||One-Year Change in Inventory|
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