Monthly update on the Staten Island/NYC Real Estate world
As always, I’d like to provide you with some light reading for your Sunday so you’re up to date on the current Real Estate market in Staten Island, Brooklyn, NYC and beyond!
This is my monthly State of the Market edition which goes more in depth than a typical Sunday News Post. Let's Get Smarter About Real Estate! MARKET HIGHLIGHTS
SEPT-OCT 2023 Numbers are holding steady heading into Christmastime:
Staten Island has seen property values increase over the year, which is a positive sign for homeowners and investors.
The market is characterized as a seller's market in both months, but there are signs of balance as inventory increases and days on market extend, potentially offering more options for buyers.
The average discount has increased in September but remained stable in October, potentially indicating a shift in the negotiation leverage towards buyers in September.
The significant rise in days on market in October could suggest a cooling period or a seasonal adjustment where buyers take longer to commit to purchases.
🔮 Average SI apartment prices: Studio: $1,200 1 Bedroom: $1,600 2 Bedroom: $2,250 3 Bedroom: $2,900
Let’s get into it!
IS HOUSING BECOMING AFFORDABLE AGAIN? FORBES The Fed pressed pause on rate hikes for now
RATES HAD A RECORD WEEK! MND From near 8% to less than 7.5%- yes!
NAR LOST HOUSINGWIRE Things are about to change big time for buyers, sellers…and agents!
Let’s sign off this month with a couple pieces of information! -I threw 3 crazy open houses last month- a pumpkin patch at 10 Taylor Court, a Speakeasy at 90 Bay 6K and Oktoberfest at 132 Castleton Avenue. It made the SI Advance! -I’ve created a “Seller’s Blueprint” which goes over the major marketing I do for my sellers. Let me know if you’d like a copy. -I wrote a book :) It’ll be offered as a free PDF within the next few weeks. I currently have someone formatting it for me. More info in next weeks email! -Check out my recently finished website at ranolarealestate.com -I created a BUYERS course and a SELLERS course. Sign up- they’re free, and I need feedback! -Just a reminder- I’m licensed in Life Insurance as well. If you need any protection, please let me know! I work with the best Life Insurance Broker in America 😎 -If you know anyone looking for a BANK, please let us know! There is a beautiful ex-bank for rent or sale here on Port Richmond Avenue. So much history, so many cool possibilities! COMING SOON -I have a 1 bedroom, 2 bathroom condo hitting the market within 2-3 weeks in Aspen Knolls. It’ll be priced right on point with comps- around $330,000. -I have a 2,200 SF LOFT (Flex4) in Manhattan hitting the market within a few weeks. W 29 and 6th. Will be asking $14,999/month -Bungalow in New Dorp Beach. More info to come. -2 Family in Canarsie in the mid-high 800’s. More info to come. HAVE A GREAT MONTH!
Remember, knowledge is your compass in the realm of Staten Island Real Estate- and that’s exactly what we aim to provide in our Sunday News snippets.
Stay informed, stay empowered, and navigate the New York market with confidence!