Wednesday, March 11, 2009

Skaneateles Real Estate - The Weekly Update

Happy One Year Anniversary of the Weekly Update! My readers have made it possible, kept me informed, and encouraged me. Thank you!

There are currently 121 active listings in the Skaneateles area of the multiple listing service. Three new ones came on last week. The village home is a re-activation - that gorgeous home on the corner of East and Onondaga. I doubt Pat Snyder, the listing agent, will object if I mention it. Then there's new construction - apparently very new - out in Parcell Woods. It's a 3 bedroom in the high $300,000s. To complete the tour - 68 acres - oh my! - in Moravia School District and a small farmhouse to boot! High $200,000s.

Altogether there are only 4 homes marked contingent in the system; the new one this week is in the town but Marcellus schools, listed in the low $100,000s. By the way, I have a buyer looking for a home in that price range but it has to be Skaneateles Schools and not too far from the village. How far - call me with a home for sale and they will let you know! Work needed on the home is NOT an issue!

There are 9 homes pending, getting ready to close sometime soon and that's a good thing! If these numbers seem low, they may not be real - I know of two homes that have sold but are still going through inspections.

We now have 12 closed properties, one more than last year at this time, but only 2/3 of the year before. Three new ones were added this week. The two waterfront closings were reduced from the original list prices by 15% to 25%. My village listing sold for 5% under the original price - I like that!

Because I was looking for the house in the $100,000 range (please let me know if you have one!) I thought I'd explore highs and lows. There are 16 active listings under $200,000. The closings - 4 in this range - suggest that this is a hotter market than the million dollar homes. Of the 21 in that range, only 1 has closed so far this year.

It's so hard to know which way to go - buy real estate because the market is bad, wait until the economy turns around....I am constantly asked what I recommend, but I can't tell people what they should do because I don't have that glass ball we all hear about, and more importantly I am not them. I only know about present conditions - but I am positive they will change. So if it's a good time to buy for you and your family - then buy! You will not be alone!