Tuesday, January 27, 2009

Skaneateles Real Estate - The Weekly Update

There's not a lot on paper going on, but I can assure you homes are selling! I had a brokers' open today at my lovely Highland Ave home (open Saturday, 12:00 to 2:00 during Winterfest) and everyone was talking about what's selling and what great homes are for sale.

There are currently 117 active listings in the Skaneateles area. This does not include those listings in the Skaneateles School District that the agents, for whatever reason, have listed solely in surrounding towns like Spafford and Sennett. One new listing came on this week: new construction in Butters Farm for the amazing low price of under $400,000. Not large, but a ranch. Interesting.

One home officially has been marked contingent this week, a new listing that came on since the first of the year and was scooped up by a lucky buyer who apparently beat out other offers. Another that was never marked contingent went immediately to pending. Both are in the higher range (above $400,000).

Not a single home closed, leaving us with only two closed properties this year. I checked last year for the same period: 4. The year before: 7. Thinking I was on to something I went back another year: 2. Oh well. But that intrigued me - what kind of years did the numbers suggest? It turns out that Skaneateles closed consistently around the same number of homes: 2007 (103), 2006 (107), 2005 (110). Of course last year was an anomaly - only 66 closed.

So with the number of sales unpublished as yet and the ones I know about, I think we will have a decent year again. It will be interesting to follow and see how we get to the 100 mark. Home sales were up nationally 6.5% last month and because of the low mortgage rates they are expected to continue. Good news for our economy! And for Skaneateles!