December 2020
December is normally one of the slowest months of the year but strong buyer
demand across most segments of the market, buoyed by near-record low
interest rates, continue to drive a healthy sales pace in the face of a new wave
of COVID-19 infections and a softening jobs market.
New Listings in Staten Island increased 7.6 percent to 283. Pending Sales were
up 27.9 percent to 399. Inventory levels fell 22.9 percent to 1,612 units.
Prices continued to gain traction. The Median Sales Price increased 4.9 percent
to $570,000. Days on Market was down 6.5 percent to 98 days. Sellers were
encouraged as Months Supply of Inventory was down 27.9 percent to 4.3
months.
With low mortgage rates and strong buyer demand in most market segments,
the housing market of early 2021 looks to continue the trends we saw in the
second half of 2020. Low inventory and multiple offers on in-demand properties
and market segments are likely to remain common while the market waits and
hopes for a boost in new construction and a surge in home sellers to help
provide more balance to the market.
| Quick Facts | ||
| + 38.7% | +4.9% | - 22.9% |
| One-Year Change in Closed Sales | One-Year Change in Median Sales Price | One-Year Change in Inventory |
| Click here for full report about the entire Staten Island housing market. | ||
Click links below for detailed housing information on the different geographic areas of Staten Island:
East Shore – Includes data from Arrochar, Grasmere, Old Town, South Beach, Dongan Hills, Dongan Hills below Hylan, Grant City and Midland Beach
Gateway – Includes data from New Dorp, Oakwood, Oakwood Beach, Oakwood Heights, Bay Terrace, Great Kills and Eltingville
Greater St. George – Includes data from Ft. Wadsworth, Concord, Shore Acres, Rosebank, Clifton, Stapleton, Thomkinsville, St. George, Ward Hill, Park Hill and Grymes Hill
Heartland – Includes data from Willowbrook, Manor Heights, Bulls Head, New Springville , Heartland Village, Travis and LaTourette.
North Shore– Includes data from New Brighton, Snug Harbor, Livingston, Randall Manor, West Brighton, Port Richmond, Mariners Harbor, Graniteville, Arlington, Bloomfield and Elm Park
South Shore – Includes data from Annandale, South East Annandale, Arden Heights, Rossville, Woodrow, Huguenot, Princess Bay, Pleasant Plains, Charleston, Richmond Valley and Tottenville
The Hills– Includes data from Emerson Hill, Todt Hill, Lower Todt Hill, Light House Hill, Richmondtown, High Rock, Dongan Hills Colony and Emerson Hill
The Lakes – Includes data from Westerleigh, Sunset Hill, Sunnyside