December 2021
The 2021 housing market was one for the history books. After three consecutive
months of increases recently, existing home sales are on pace to hit their
highest level in 15 years, with an estimated 6 million homes sold in 2021
according to the National Association of REALTORS®. Sales prices reached
new heights, inventory hit rock bottom, and homes sold in record time, often for
well above asking price. Mortgage rates, which began the year at historic lows,
remain attractive, and homeowners who choose to sell in the coming months
can expect to see plenty of buyer activity due to pent-up demand during the
pandemic.
New Listings in Staten Island decreased 16.1 percent to 255. Pending Sales were down 3.3 percent to 387. Inventory levels fell 48.4 percent to 987 units. Prices continued to gain traction. The Median Sales Price increased 8.8 percent to $620,000. Days on Market was down 26.3 percent to 72 days. Sellers were encouraged as Months Supply of Inventory was down 58.7 percent to 2.2 months.
Looking ahead, experts anticipate many of the housing market trends of 2021
will continue in 2022, albeit at a more moderate level. Strong buyer demand and
inventory shortages are likely to persist over the next year. Home sales are
projected to remain strong but will be tempered by the limited supply of homes,
higher sales prices, and rising interest rates, with the Federal Reserve planning
multiple rate hikes in the new year. Price growth is expected to slow somewhat
as a result, but affordability will likely remain a top constraint for some
homebuyers
| Quick Facts | ||
| - 5.2% | +8.7% | - 44.5% |
| 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