Monday, May 19, 2008

Skaneateles Real Estate - The Weekly Update

So there I was, sitting in my car at 4:30 after a long weekend of new listings and open houses. I had switched to jeans and warm clothes to wait for an agent and her investor client from NYC to see my multi-family on Otisco Valley Road. (Really, it's a good deal - $164,900 for two houses containing 5 apartments plus 22 storage units...needs a bit of exterior work, that's why the price...) I had rushed over after my Elbridge open house but there I sat, waiting.

I hadn't brought any reading material because I thought I would be the late one arriving, so I was left with my phone to entertain me. That and the goldfinches playing in the high grass, the contemplation of a busy week ahead, the satisfaction of a great weekend behind....

I love math so I started doing some of the numbers of the data available to me on my Palm, courtesy of having the MLS information updated daily along with my key.

Results of interest (or so I thought as I waited):
  • There are currently 3,104 agents in the multiple listing service. I've been told that when there are hard times in the market, this number is reduced tremendously - we'll see -
  • Current active listings up to $500,000 - Skaneateles has 78, Manlius has 251
  • Camillus has only one listing over $500,000 - it's gorgeous! - and 164 under the half million mark
  • Onondaga has 108 of 112, Dewitt comes in at 120/148
  • Auburn's highest priced home in the ML is $275,000 - and it only has 136 listings (time to check the internet, but Auburn is MUCH larger than most of the other towns). Seems an indication that in the lower priced markets in Central New York, houses are selling.

The agent arrived, we apologized to the tenants, then toured and talked, and I got to the office before the heavy rains hit around 7:00.

So now the real update!

Yes, there are currently 133 active listings in the Skaneateles area. Five new ones came on last week - a re-list of a spectacular waterfront property in the village under 2 million, two in the village and two more in the town. And none showed up as sold; there are still 16 listed as having closed this year.

I played around again with the numbers this morning, basically to get my facts straight myself for listing appointments and to simply know the numbers. There are 57 single family residences that have been listed over 100 days. Within the past 30 days, 36 new listings have come on the market in Skaneateles.

These numbers are not as accurate as they appear. Many of these homes are re-lists - they didn't sell last year and so they have come on again either with a different agent, at a different price, or simply to refresh their image. For some, the snow pictures have been replaced with spring pictures.

The village will be filled over Memorial Day weekend - the weather is expected to co-operate - and perhaps then the deluge of home-selling will occur. It will happen!