State of the Market for First Quarter of 2015

Here are Staten Island real estate market statistics as of March, 2015 which marks the end of the first quarter for 2015. 

Year to date pending sales are up 24.5% from 2014 and closed sales are up 16.7%.

At the same time the inventory of homes for sale has decreased by 22.5% and the months of supply of inventory has gone from 8.6 months to 6.3 months of supply. 

The median sales price is up 1.3% while the average sales price is actually down 0.4% indicating that the entry level priced homes are gaining while the prices of homes on the higher end are actually slipping.

With mortgage interest rates remaining low we are in a healthy real estate market at this time.
Source: SIBOR May 11, 2015

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