These last few years have been a sellers’ market according to statistics but just recently have started to change. On a national level year over year from August of 2017 to August 2018, there has been a 3% decrease in price change, 7% increase in inventory and an 8% increase in the change of price-reduced homes. So, what does that mean?
As inventory increases and prices decrease, it is pointing in the direction of being a buyers’ market. However, there is still time to sell your home for a higher price foreseeing where the market is heading. Staten Island, year over year the median sales price has increased by 2.8%, inventory of homes is up 2.5%, which it’s safe to say there is still time to sell!
The most important item to consider when beginning estimating the value of your home is to take into consideration the current overall and local real estate market conditions around Staten Island. Among the best indicators of what your home on Staten Island may be worth, is the sale of similar homes in terms of land size and house structure attributes, near you. Let Martino Realty evaluate your current home whether located on the East Shore, Gateway, Greater St. George, Heartland, North Shore, South Shore, The Hills and The Lakes with a Free Market Analysis.
To contact Martino Realty on Staten Island please call (718) 608-9400 or visit the office located at 7448 Amboy Road.