Last week I established the criteria for what would be considered in my weekly update. I want to add one other category, something that admittedly is published every Sunday morning in the real estate section of the Post Standard, but a fact that is important for context purposes. And since not everyone ("no, really?!") reads the Sunday P-S, then publishing it here makes some sense.
This number is the average price of a home in Skaneateles, currently $562,500. Last year at this time the average price was $473,800. Wow!
I remember when I first started real estate almost 7 years ago. The number then was around $200,000. Skaneateles' prices have increased, but not the crazy percentages that are seen elsewhere and have caused the housing crises in other parts of the country.
Another point about this number: the nearest competitor is the Town of Pompey, surprisingly enough, with their entry of $243,500. Skaneateles is influenced by waterfront homes, while Pompey has large homes, generally quite new, on large pieces of land.
On to the update! There are currently 90 active listings in the Skaneateles area of the multiple listing service. Seven new listings were added this week, all between $449,000 and $579,000.
There were no listings that went to contract (contingency) and only 1 closed, a house on Jordan Road for $125,000.
"Nothing is moving," people say. But the rates are still fairly low, people will want to buy to get in before summer, and we'll see what happens when more waterfront properties come on the market in the next few weeks!