Published September 24, 2026 in Market Update

7 Signs Your Price May Be Too High in Staten Island

By Christopher DiToro

Real estate, Residential

Right now, 857 homes are for sale on Staten Island. Of those, 367 have already dropped their price. That is 42.8% of everything on the market. I pulled every listing as of September 23, 2026, and the pattern is hard to miss. A home that is priced right sells. A home that is priced too high sits, then cuts, then sometimes gives up entirely. These seven signs are what that looks like before it happens to you.

1. You have been on the market longer than 64 days

The typical home that sold here took 64 days to find a buyer. If you are past that and still waiting, the market is telling you something. Buyers have seen your home and moved on. That is almost never about the home itself. It is almost always about the price.

2. You are getting showings but no offers

Showings mean buyers are curious. No offers mean buyers are comparing you to something else and choosing that instead. Sales data here shows homes closing at 96.6% of what they first asked, but the number of closings in this period is very small, so treat it as a directional signal rather than a hard average. If buyers are walking through your door and walking back out, the gap between your price and what they see as fair is likely the reason.

3. You priced above what recently sold nearby

One home sold on the Island during this period, at $700,000. That is one data point, not a broad average, so use it carefully. What it does tell you is that buyers doing their homework look at real closings, not asking prices. If you set your number well above what your neighbors actually closed at, buyers will notice the gap. They will not pay more than the market supports, and their lender will not let them even if they wanted to.

4. New listings keep coming while contracts slow down

In August, 303 homes came on the market and 244 went under contract. That means more supply is building than demand is absorbing. In June, 404 new listings came on against 255 new contracts. In July, 358 came on and 298 went under contract. The trend is clear: more homes are chasing the same pool of buyers. When supply grows and demand holds steady, the homes priced at the edge are the first ones buyers skip.

5. Nearly half the homes around you have already cut their price

42.8% of every home for sale on the Island right now has already dropped its price. The typical cut is $30,001, and that is 4.8% of what those sellers first asked. When nearly half the market has already admitted their price was too high, the ones who have not cut yet are the ones still deciding. If you are in that group, the question is not whether to cut. It is whether to cut now or cut later after more days on the market.

6. The total dollars cut across the Island keep climbing

Sellers on Staten Island have cut a combined $23,160,797 from their asking prices so far. The single biggest cut is $799,999, on a home on Douglas Road. That is one seller who started very high and had to come a long way down. Most cuts are smaller, but they add up fast. A price that starts too high rarely sells at the cut price either. It just restarts the clock.

7. You are holding out while mortgage rates are near 6.95%

The 30-year fixed rate averaged 6.95% as of September 17, 2026, up from 6.76% the week before, according to Freddie Mac's weekly rate survey. A year ago it was 6.26%. Every tick up shrinks what a buyer can afford at any given price. A home that was reachable at last year's rate may sit just out of reach today. That is not a reason to panic, but it is a reason to be honest about where your price lands for the buyer who has to borrow.

What this means for you right now

If you are selling, the data points to one move: price it right the first time. Homes that sold here got 96.6% of what they first asked, though closings in this period are few, so the direction matters more than the exact figure. The ones who started high and cut lost time, lost momentum, and often lost more than 4.8% in the end. The National Association of Realtors reported that national inventory just hit a 4.9-month supply, its highest in over ten years. More choices for buyers means less urgency to stretch on price.

If you are buying, 22 homes came off the market without selling during this period. That tells you sellers sometimes hold firm and walk away rather than cut. When you find a home priced close to what similar homes sold for, do not assume there is a lot of room to negotiate. The ones that sold closed at 96.6% of the original ask. Reasonable offers get deals done. Low offers on well-priced homes tend to go nowhere.