October 2020
October continued to be busier than the calendar normally suggests. Buyer
activity remains higher than normal for this time of year, while in many segments
of the market housing supply remains much lower than one year ago. Multiple
offers remain a common occurrence in many areas, keeping housing hot while
the temperatures continue to fall.
New Listings in Staten Island increased 0.6 percent to 629. Pending Sales were
up 47.2 percent to 583. Inventory levels fell 17.0 percent to 2,120 units.
Prices continued to gain traction. The Median Sales Price increased 4.5 percent
to $575,000. Days on Market was down 0.4 percent to 100 days. Sellers were
encouraged as Months Supply of Inventory was down 19.9 percent to 6.0
months.
Mortgage rates dropped to new record lows again in October, helping to offset
the monthly mortgage payment increases caused by the rise in home prices
seen in many segments of the market across the country. While prices often dip
a bit in the winter months, continued buyer demand may temper any price
retreats this year.
| Quick Facts | ||
| + 30.9% | +4.5% | - 17.0% |
| 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