The Real Estate Market in St. George Staten Island
When you think about buying a home in New York City, one of your biggest concerns is probably how much it is going to cost you. New York is anything but cheap it seems, but with everything it offers residents, living there can be an amazing experience. While living directly in New York City may be out of your price range, living in the amazing community of St. George Staten Island certainly is not.
Why live there?
There are several reasons why one would want to move to St. George. First of all, it offers a culturally and ethnically diverse population, in one of the most accepting areas of New York City. In addition, it has a low crime rate, a deep history and plenty of arts and culture for you to enjoy. The family-friendly atmosphere of the entire neighborhood makes it one of the most desirable places to live in all of Staten Island, and that makes it the perfect place for many people.
Prices
Currently, the average home price in St. George Staten Island is $453,492, with the median sales price being roughly $400,000.
One great thing about St. George Staten Island is that the median sales price has not skyrocketed like other places. It was roughly $200,000 in 2000, and has only gone up to $400,000 in 14 years, with a few bumps up near $500,000 over that time. That means it is a stable real estate market, with less volatility.
In addition, the number of sales has remained constant over the course of 14 years, with very little fluctuations.
The average price per square foot has gone from about $200 in 2000, to just under $400 in 2014, again with a few fluctuations.
Future
One good thing about the housing market on St. George Staten Island is that the housing market is beginning to move forward, and many say it is turning into gold. Real estate values are rising, and over the past 1.5 years, there has been a huge uptick in the demand for residential homes in the St. George area, at least according to John Pitera, an associate broker with St. George-based Casandra Properties. An example of this is one 3,200 sq-foot condo that was priced at $376,000 in 1995 and this year sold for $900,000.
While housing prices are going up, there are not as many homes for sale because those who live in St. George Staten Island want to keep living there and they don’t want to leave. As a result, in any given month there are only about two dozen homes for sale. For this reason, if you see a home you like in St. George Staten Island, you need to jump on it immediately and grab it as soon as you can.
St. George Staten Island is a very desirable place to live and with prices the way they are now, the time is right to buy and settle into this wonderful community on Staten Island.