For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in
no danger of falling due to inventory shortages and will rise by 4%,” the longterm NAR economist predicts. He is also expecting the new-home construction
market sales to increase 10%. Yun and others would like to see home builders bring more affordable units to market to help ease shortages and slow price
gains in that segment. New Listings in Staten Island decreased 8.7 percent to 588. Pending Sales were up 15.7 percent to 309. Inventory levels fell 7.6 percent to 1,934 units.
Prices continued to gain traction. The Median Sales Price increased 2.1 percent to $550,000. Days on Market was up 12.8 percent to 108 days. Sellers were
encouraged as Months Supply of Inventory was down 9.0 percent to 5.4 months. We start off the year with continued low interest rates, low unemployment, and
rising rents nationally. These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market
|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.