There is a shortage of homes on the market due to a lack of inventory. Home sellers were unwilling to list properties this winter which has led to a big gap in many homes that are being listed now. The neighborhood that is experiencing this the most is Staten Island’s very own Annadale neighborhood. Even with this gap, buyers are still trying to move into the neighborhood.
Located on the South Shore of Staten Island, real estate in Annadale offers a wide range of essentials amenities, such as stores and restaurants, as well as schools and parks that are walking distance from most homes. It is also a popular area for commuters. This established neighborhood has excellent transit, including several bus routes and the Staten Island Railway-Annadale Station. The pleasing boutique town is infused with a true community feel, offering home-seekers a range of excellent semi-detached and single family homes.
In February, a home is Annadale was listed for $379,000, making it the cheapest home listed from that neighborhood. This home was a detached condo with two bedrooms and two bathrooms, being listed at $275 per square foot. Prices just keep going up from there, as the 10th most affordable listing in Annandale goes for $769,000 for a detached ranch home with three bedrooms.
Annadale is not the only neighborhood experiencing this rise in prices; the whole borough is seeing this spike and the current gap which is caused by sellers not listing their homes during the winter months. If you are seeking more information about the current housing market in your Staten Island neighborhood and if now is the right time for you to sell, do not hesitate and give our office a call today for a free no obligation consultation!