Report reveals dip in new listings of Staten Island homes

New listings of Staten Island homes have decreased 30.9% this year, dropping from 635 available residences to just 439, a new report notes. (Staten Island Advance/Jason Paderon)Jason Paderon

STATEN ISLAND, N.Y. – New listings of Staten Island homes have decreased 30.9% this year, dropping from 635 available residences to just 439, according to a new report.

"There clearly has been a shortage of available homes for sale; there is not a shortage of buyers," said Sandy Krueger, CEO of the Staten Island Board of Realtors (SIBOR), which released the findings. "The imbalance between supply and demand has created a competitive market, with fewer options for those buyers. As a result, along with other economic factors, some potential sellers may be hesitant to list their home due to concerns about finding a suitable replacement property. We’re in somewhat of a chicken and egg situation that should shake out in the next few quarters."

According to SIBOR, when measured against April 2022 stats, pending sales of homes in the borough were down too, dropping by 20.4%, and inventory levels also fell by 20.9%. A small decrease (7%) was reported in the price of Staten Island homes: The median sales price now stands at $622,999.

SIBOR noted that the decreasing Staten Island numbers are on par with national real estate trends.

"Existing-home sales in the United States declined 2.4% month over month as of last measure, according to the National Association of REALTORS (NAR), reversing February's sales gain of 14.5%," the SIBOR report noted. "Housing inventory remains tight nationwide, with only 980,000 units available for sale heading into April."

Fluctuations in mortgage interest rates have caused buyers to pull back, the agency stated, with pending sales dropping 5.2% month over month.

"The lack of existing inventory continues to impact home sales," SIBOR said. "And with only 2.6 months’ supply of homes at last measure, competition for available properties remains strong."

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