Tuesday, September 23, 2008

Skaneateles Real Estate - The Weekly Update

What a week it was! Somehow I thought the economic upheaval would have a fallout here, but it doesn't seem to have changed things much. We are still making progress, slow but sure.

There are currently 144 active listings in the Skaneateles area as defined by the Central New York Information Service (MLS). This is down from a high in the 160s a few months ago. Of course it could be seasonal, but this is a prime season in which to list and sell. The number of people on the streets and in the shops is a good indicator. The village continues to be filled with wonderful visitors from all over the world. Please see the comment under the blog "Communication."

We have five new listings this week - 1 waterfront, 1 village re-list (under the sales price of a year ago, I believe), and 3 homes ranging in value. Three properties were marked contingent - 1 new construction and 2 village homes, one of which just came on and found a buyer immediately! Well done!

There are 9 total homes marked contingent and 13 pending, just waiting to close. So far there are still 34 closed properties year-to-date and none this past week.

We lost the contingency status of 11 Onondaga due to the economic woes of Wall Street and the world. I hope the deal stays together, but in the meantime we must go on and look for back-up offers that could rapidly become prime offers. It will be open again on Saturday, 12:00 to 2:00 if you'd like to see it. I've heard tell that the attic is cleaned out and looks HUGE!

Rentals are proliferating. There are 16 current homes/apartments available. Of these, 8 are in the village. Their prices range from $895 to $7,000 on the water. The majority cluster around the $1,500 mark, but this could come down as winter approaches.

I think this past week promotes the belief that buying and selling need to be done in the moment, not drawn out. You don't know what awaits you or the world. Certainly I have heard the phrase "We thought we had a deal, but the economy........(and the voice trails off.)" It will be fascinating to watch this all play out - and enlightening, too. I am ever-optomistic about the future, both of the real estate market in Skaneateles and the fortitude of the people of the United States.