September 30, 2026
A major national housing report is driving headlines about sellers slashing prices and buyers taking back control. According to the Realtor.com September 2026 Monthly Housing Trends Report, price reductions have reached their highest level for any September on record, with more than 1 in 5 active listings cutting the asking price. That is the national picture. In Staten Island and Brooklyn, the story looks quite different, and homeowners should be careful about letting national headlines set their expectations.
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According to the Realtor.com September 2026 Monthly Housing Trends Report, price reductions reached their highest level for any September on record, with more than 20 percent of active listings, over 1 in 5, having cut their asking price. Inventory is also recovering toward pre-pandemic levels, which gives buyers more choices than they have had in years. On paper, buyers are regaining negotiating leverage across much of the country.
Not yet. Despite the price cuts and added inventory, buyer demand remains cautious. The number of homes going under contract is down more than 4 percent year over year, according to the same report. Sellers are adjusting, but buyers are not jumping in at the same pace, which is part of why more listings are sitting long enough to need a reduction. Mortgage rates and affordability are still weighing on many households.
Much of the price cutting and inventory growth is concentrated in regions that built heavily in recent years, particularly across the Sun Belt. Markets in parts of Texas and Florida, for example, added large amounts of new construction, and that supply is now competing with resale homes. National averages blend those markets together with places that look nothing like them, so a national number can paint a misleading picture of any single local market.
There is no broad fire sale in Staten Island or Brooklyn. Inventory remains tight in both boroughs, and well-priced homes continue to sell close to asking. Neither borough has much room for large-scale new construction, so the supply surge driving cuts elsewhere has not shown up here in the same way. That does not mean every home is selling fast or for top dollar. Condition, location and price still matter, and some listings are struggling.
The exception is overpriced listings: homes that came to market too high and have lingered for 60 to 90 days or more. Those are the sellers cutting prices as expectations reset. For local buyers, the opportunity is in longer-sitting, overpriced listings rather than fresh, correctly priced ones, which still tend to draw strong interest. A buyer's agent can pull days on market and price history so you can tell the difference before you make an offer.
Price it right from day 1. Locally it remains a seller's market, and correctly priced homes are still selling near asking, but the homes that start too high are the ones now taking reductions after weeks on the market. Do not use national headlines to guess your home's value in either direction. Ask for a pricing analysis based on recent Staten Island or Brooklyn sales on your block and in your neighborhood, because that is the data buyers and appraisers will actually use.
Questions about how this affects your home in Staten Island or Brooklyn? Work with Joseph Ranola, or text or call (917) 905-2541. New episodes of Daily Tesla News break down the NYC real estate stories that move the market.
Joseph Ranola and the Bridge and Boro Real Estate Team have closed $40M+ across both boroughs, backed by 87+ five-star Google reviews. Let’s talk about your goals.
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