Tuesday, September 9, 2008

Skaneateles Real Estate - The Weekly Update

Busy, busy week! It's been absolutely wonderful!

There are currently 146 active single family listings in the Skaneateles area. This is about a 10% decrease since mid-spring. And why? Homes are selling!

This week three new listings came on the market. Two were re-lists and high end waterfront and the other is a new village property, high end also.

Four properties were marked as "K" for contingent, among them my beautiful 11 Onondaga Street listing. Another village home, new construction and a waterfront round out the contingent designations.

This may be the first time in a very long time that the number of "K" properties in a given week is greater than the new listings, another sign of health.

Two properties were withdrawn, one possibly because it was rented. Five others simply expired, something that happens in this market unfortunately.

There was only one closing, an older village home in the mid-$200s. It had been reduced from its original price by about 14%. There are now 32 closed properties as compared with last year's 66. We'll make it up this fall!

There are currently 19 properties waiting to close. Add those to the 32 plus a few more that are still listed as active but have explanations attached to them and while it won't be a robust year it won't be as difficult as the first six months.

Syracuse itself was once again cited as one of the 10 most affordable markets in the entire United States. Skaneateles has a higher price point, but it is certainly much better off than many, many other places. We don't have the foreclosures or the entire developments standing empty. I saw a picture of mountain lions that had moved into one neighborhood out west and taken over a home that was vacant. Not here. Not ever.

So call your Realtors and make appointments before it's too late to take advantage of our slower market. I know people who have and they are thrilled. It will help everyone!