STATEN ISLAND, N.Y. — Staten Island houses gross sales in 2016 elevated by 12 % over the yr prior, in response to the Actual Property Board of New York (REBNY) Residential Gross sales Report.
The full variety of houses bought within the borough in 2015 was 1,283. That quantity jumped to 1,442 in 2016, in line with the report.
As well as, costs for houses within the borough elevated by 10 % — from $443,000 to $486,000 — from the fourth quarter of 2015 to the identical time interval in 2016, based on REBNY.
And there is good purpose for that, Realtors say: The opposite metropolis boroughs have gotten much less reasonably priced to stay in, particularly Brooklyn, so the demand for Staten Island houses has tremendously elevated.
“There are a couple of the reason why Staten Island has seen the most important bounce in residential gross sales,” stated Anthony Volpe, an actual property salesperson with the New Dorp-based mostly Laird Klein Realty.
“Staten Island has lengthy been the extra reasonably priced borough and nonetheless stays that method. In 2016, Brooklyn was dubbed probably the most unaffordable metropolis in America to reside in. We’ve observed a pointy improve within the quantity of consumers we work with who’re leaving Brooklyn to purchase in Staten Island.”
HIGH VALUE FOR STATEN ISLAND PROPERTIES
Most of those consumers are coming right here for a similar purpose. “They need greater houses and extra property for a a lot better worth than Brooklyn presently presents, stated Volpe.
“Residential gross sales additionally jumped because of the inflow of buyers shopping for up low cost houses and flipping them for revenue. There’s a whole lot of alternative to purchase houses in dilapidated areas, renovate, and resell. This has been elevating property values and bringing a lift in curiosity to many areas of the Island that had as soon as been forgotten about,” he added.
UPWARD TREND LIKELY TO CONTINUE
The rise in Staten Island house gross sales is predicted to proceed, in accordance with native Relators.
“As increasingly more see the comparative worth in Staten Island actual property and the upper high quality of life that the borough has to supply, Staten Island will proceed to see a robust upward development in the actual property market,” stated stated Frank J. Rizzo, president and dealer of Cornerstone Realty in Annadale.
“We have very quietly considerably outpaced the town in progress, however as Staten Island’s story continues to develop, with new improvement and funding persevering with shore to shore it will not be so quiet for for much longer,” he added.
Stated Jon Salmon, dealer/proprietor of Salmon Actual Property in Castleton Corners: “With demand for housing remaining robust…