STATEN ISLAND, N.Y. — If you’re in the market for a home on Staten Island, be prepared to pay $750K or more: According to a new report from the Staten Island Board of Realtors, the median sales price for a piece of property on the borough now hovers at that mark — a 5.3% increase from November 2024.
“Staten Island’s housing market continues to be shaped by limited supply,” said Sandy Krueger, CEO of SIBOR, referring to the report.
The study revealed the following about the borough’s real estate market: new home listings decreased 10.6% to 328; pending sales were down 1.6% to 300; and inventory levels fell 20.9% to 1,035 units.
“With fewer homes available and new listings down, prices have continued to rise, and well-priced properties are moving steadily,” Krueger said. “The data reflects a market that remains stable and competitive for buyers and sellers alike.”
Inventory levels today remain well below pre-pandemic norms, reinforcing competitive conditions for buyers and continued pricing strength for sellers, Krueger explained.
“Even during periods of rising interest rates, Staten Island has consistently outperformed many neighboring markets in terms of price stability, reflecting the borough’s appeal to first-time buyers, families, and those seeking more space relative to other parts of New York City,” he said.
According to the National Association of Realtors, those numbers are in line with national trends. Thanks to modest inventory levels, home prices continue to rise across the country, with the national median existing-home price increasing 2.1% year over year to $415,200, marking 28 consecutive months of annual gains.