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
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.
|+ 38.7%||+4.9%||- 22.9%|
|One-Year Change in Closed Sales||One-Year Change in Median Sales Price||One-Year Change in Inventory|
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