Is Now a Good Time to Sell Your Staten Island Home With Mortgage Rates Above 7%?

Nov 19, 2026

It can be, if you have a clear reason to sell. Staten Island has had low inventory, and an April 2026 report described homes selling about 21 days faster than a year earlier. But 7.28% rates have cut buyers' borrowing power, so price your home realistically and expect buyers to focus on monthly cost.

What is working in sellers' favor?

• Low supply. Inventory was about 26% to 29% below a balanced market in April, and the borough had about 921 active listings in early March.
• Faster sales. The same report put sales pace about 21 days faster than the previous April. Another report cited 100 average days on market in February, down from 123 a year earlier.
• Equity gains. With the March median up about 4.1% year over year, one broker estimated about $31,000 in new equity on a typical home.

What is working against sellers?

Buyer budgets. On our math, the monthly payment that supported a $671,000 loan at 6.19% in April supports about $600,000 at 7.28% today. Buyers who can't stretch will bid less or look at smaller homes. We did not find Staten Island sales data after the September rate hike, so ask your agent for the latest closed sales near you.

What if I'm selling to buy another home?

You'll likely trade a low rate for a higher one. If your current rate is below 5%, which describes about 78% of local mortgage holders according to one broker, compare your new payment with your old one before you list. Then ask whether a smaller purchase, a different neighborhood, or renting for a time fits your plans. We run through payments in our post "How Much More Will I Pay Per Month at 7% Mortgage Rates?".

How should I price and market my home?

• Price to recent closed sales, not to what you hope for.
• Prepare the home for sale with repairs and a pre-listing inspection if your agent recommends one.
• Ask your agent whether offering a seller credit toward a buyer's rate buydown could widen your buyer pool.
• Have a plan for where you'll live if your home sells quickly.

Frequently asked questions

Is it a seller's market on Staten Island? An April 2026 report described it as one, citing low inventory and faster sales. Conditions can shift with rates, so check current data.

Will high mortgage rates lower my sale price? They can reduce what buyers can borrow, which may limit offers. Spring data showed prices flat to modestly higher, but that predates the September rate hike.

Should I wait to sell until rates fall? Lower rates could bring more buyers, but they could also bring more competing listings. No one can predict timing, so weigh your own needs.

What is my home worth right now? A local agent can pull recent closed sales near you. Prices vary widely by neighborhood, from under $500,000 in some areas to over $1 million in others.

Thinking of selling? Request a home valuation from DiTommaso Real Estate at 718-667-8000.