Last Update on Staten Island foreclosures

Staten Island Foreclosure Listings

Families who want to live in Staten Island can grab the opportunity of choosing from the bank-owned foreclosure homes for sale as Staten Island banks offer foreclosed homes at a very affordable rate and below the actual market value. Families will be able to enjoy the quality of life that Staten Island offers to its residents. Warm and friendly neighborhoods add to the attractiveness of this part of New York.

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Bank Foreclosures in Staten Island

One of its five boroughs, Staten Island is located in the South Western part of New York City. With a population of almost 493,000 living in an area of 58 square miles, Staten Island is the least populated and most suburban of all the boroughs. The average commuting time to New York is 40 minutes.

Staten Island offers home seekers a completely different feel with warm, friendly neighborhoods that radiate a typical suburban lifestyle. The island has five national parks covering hundreds of acres of land. What was previously the largest landfill in the world is also currently being converted into the largest park in this very island.

The demographics of Staten Island are similar to those of Brooklyn a mixture of foreign immigrants, of high-income-earning, single, young professionals, and of established, upper income, singles in their middle ages. Of its population, 38% are single while 48% are married, of which 71% do not have children. A third of the island's population are between the ages of twenty and thirty.

There are 3,855 foreclosure listings, 193 of which are bank foreclosures in Staten Island. The average prices range from $107,100 for a one-bed, one-bath house, to $673,123 for a multi-family home.

The normal average listing price for houses in Staten Island is $488,12.This represents a decrease of 0.2% compared to the previous year. The average price per square feet was $249, an increase of 0.8% on the same period during the prior year. The average median value of owner-occupied homes was $209,100 which is approximately $60,000 above the state average.

The above figures make Staten Island an attractive proposition for investors who want the convenience of the big city while enjoying a comfortable suburban life. Now is the time to take advantage of decreased prices and bargains available on foreclosure listings in Staten Island. Tottenville, Dongan Hills, Arrochar Great Kills and Rossville are the preferred neighborhoods, but Saint George (which saw an average week-on-week price appreciation of +7.6%), Castleton Corners, Grymes Hill (+4.8%), South Beach/Old Town and Graniteville offer good investment prospects.