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‘Pent-up demand’ propelling Staten Island real estate market
Updated Jan 08, 2021;
Posted Jan 08, 2021
Due to demand for less dense housing during the coronavirus crisis, Relators say Staten Island’s real estate market held up much better than the other four boroughs in 2020.Third Party
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STATEN ISLAND, N.Y. Realtor Joan Camerlengo said all of the properties listed through her New Dorp agency sold during 2020.
The broker/owner of Joan Camerlengo Realty attributed the high sales volume to a “pent-up demand” following the PAUSE across the state that shuttered virtually all industry between March 22 and June 22, 2020. During that time, only virtual tours were allowed across the state.
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10 most expensive Staten Island homes sold in 2020
Updated Dec 23, 2020;
STATEN ISLAND, N.Y. Even during a global pandemic, Staten Island’s high-end residential real estate was enticing to buyers, with the highest-priced home in the borough selling for $3.45 million on Todt Hill in 2020.
And this year, the highest-priced condominium in the borough sold for $1.8 million in Bay Street Landing in St. George.
In fact, the coronavirus (COVID-19) pandemic hasn’t greatly affected home prices in the borough, Realtors say. And homebuyers appeared to have flooded the market since the shelter in place order was lifted in the summer. Pending sales since August average anywhere from 45% to 66% above the similar period last year, said Sandy Krueger, CEO of the Staten Island Board of Realtors (SIBOR).
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