Staten Island Square Footage and Median Price Differentials

A new AccuriZ report titled “Square Footage and Median Price Differentials,” highlights the sales activity of New York City and the differnces between median sale price and price per square foot. Below is an excerpt from the Staten Island section of the report. To see the full Staten Island report, as well as the additional boroughs, CLICK HERE.

Real Estate is like a set of Russian Nesting Dolls. Analysts tend to focus on the entire market, with minimal effort given to the underlying components. As you examine various segments of the markets, different pattern emerge. Generally in real estate there are three rules: Location, Location and Location. And in the current market, if you do not have to sell you don’t.

It is comprised of three elements: Cyclical, Seasonal and Emotional. . The present market comprises of all three, which is extremely rare.

Staten Island is experiencing the slowest value decline of all of the Boroughs at -5.17%. In complete opposite of the other Boroughs, Staten Island is experiencing a greater decline in the Single Family market, but showing increases in two to three family units, as well as properties with a residential unit and commercial unit.