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Princes Bay Home Prices

The data below shows median sales prices for Princes Bay Staten Island homes, co-ops and condos as determined from New York City property records in December 2010. For the 3 months ending December 2010, the median sales price for all Princes Bay homes and apartments was $600,0001. A history of quarterly median sales prices is below. For a less volatile look at pricing, see the 12 month rolling median price data. Affordability based on income and recorded home sales is also calculated.

Quarterly Rolling Home Price History for Princes Bay

Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 25.00% higher.

The quarterly rolling median price for all homes and apartments in staten island reached its most recent peak of $763,136 in May 2007. At $600,000, the current quarterly rolling median price is now 21.38% lower. When the quarterly rolling median price hit its lowest point (to date) of $475,000 in August 2008 it was 37.76% off the most recent peak. It has since climbed 26.32% from that post peak low.

Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

quarterly median sales prices in Princes Bay for houses, co-ops, condos and combined properties

History of Quarterly Rolling Median Sales Prices for the Last Year

Month Houses CO-OPs Condos Combined
December 2010 $600,000 § — § — § $600,000 §
November 2010 $600,000 § — § — § $600,000 §
October 2010 $530,000 § — § — § $530,000 §
September 2010 $521,250 § — § — § $521,250 §
August 2010 $575,000 — § — § $575,000
July 2010 $705,000 § — § — § $705,000 §
June 2010 $552,393 — § — § $552,393
May 2010 $551,196 — § — § $551,196
April 2010 $552,396 — § — § $552,396
March 2010 $555,000 — § — § $555,000
February 2010 $531,970 — § — § $531,970
January 2010 $490,000 — § — § $490,000
December 2009 $480,000 — § — § $480,000

12 Month Rolling Home Price History for Princes Bay

The 12 month rolling median price for all homes and apartments in staten island reached its most recent peak of $712,266 in May 2007. At $552,400, the current 12 month rolling median price is now 22.44% lower. When the 12 month rolling median price hit its lowest point (to date) of $542,500 in January 2010 it was 23.83% off the most recent peak. It has since climbed 1.82% from that post peak low.

12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

12 month rolling median sales prices in Princes Bay for houses, co-ops, condos and combined properties

History of Rolling Median Sales Prices for the Last Year

Month Houses CO-OPs Condos Combined
December 2010 $552,400 — § — § $552,400
November 2010 — § — § — § — §
October 2010 $551,196 — § — § $551,196
September 2010 $550,000 — § — § $550,000
August 2010 $542,500 — § — § $542,500
July 2010 $552,393 — § — § $552,393
June 2010 $552,400 — § — § $552,400
May 2010 $552,393 — § — § $552,393
April 2010 $552,396 — § — § $552,396
March 2010 $551,891 — § — § $551,891
February 2010 $548,428 — § — § $548,428
January 2010 $542,500 — § — § $542,500
December 2009 $546,000 — § — § $546,000

Princes Bay Home Affordability

In 2007, the median household income in Staten Island was $68,1352. Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median Staten Island household, this would have meant that a monthly mortgage payment should not have exceeded $1,703 using the 2007 average mortgage rate of 6.34%3. Combining this with 2007 property sales records, we can calculate that the median income household could have potentially afforded approximately 15.50% of the homes and apartments sold in Princes Bay in all of 2007.

1. All sales metrics are calculated from NYC Rolling and NYC Annual property sales. Metrics derived from rolling data are preliminary as some sales take months to report. ↩

2. Affordability data, including median income by borough, are calculated from metrics in the NYC Datamine Economic and Housing Profile datasets. ↩

3. Average mortgage rates are from Freddie Mac Primary Mortgage Market Survey Archives and do not include points. ↩

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