October 2023
U.S. sales of existing homes recently fell to a 13-year low, dropping 2.0% month-over-month and 15.4% year-over-year as of last measure, according to
the National Association of REALTORS® (NAR), as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many
prospective buyers. Purchase activity is down significantly compared to this time last year, but rising interest rates are also keeping many current
homeowners from selling, causing inventory to remain at historically low levels nationwide.
New Listings in Staten Island increased 1.7 percent to 430. Pending Sales were
up 22.0 percent to 333. Inventory levels fell 36.1 percent to 1,180 units.
Prices were fairly stable. The Median Sales Price increased 0.8 percent to $665,000. Days on Market was up 4.4 percent to 78 days. Sellers were encouraged as Months Supply of Inventory was down 23.4 percent to 3.8 months.
Total housing inventory going into October was at 1.13 million units, up 2.7% from the previous month but down 8.1% compared to the same time last year,
for a 3.4 months’ supply at the current sales pace, according to NAR. The shortage of homes for sale is making it harder for buyers to find a home to
purchase while at the same time pushing sales prices higher nationwide, with the median existing-home sales price rising 2.8% annually to $394,300, the third consecutive month of year-over-year price increases.
| Quick Facts | ||
| - 5.4% | + 0.8% | - 36.1% |
| 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