Thursday, April 1, 2010

Skaneateles Real Estate - The Weekly Update

I started this weekly update over two years ago, March of 2008 to be exact. Since I haven't missed a week, I guess I've written 108 or so blogs about the market in Skaneateles. Although I can access the archives of the multiple listing service, it was fun to go back and see what was happening back then. Actually, not much was! It's time to turn this trend around!

There are currently 2,290 active listings in Onondaga County. So far 543 properties have closed this year, suggesting that there is a four month inventory out there.

In Skaneateles - the town - there are 106 active listings. Three are sort of new - one re-list and two new properties, both around $200,000. In the village there are 28 active listings. The three that came on this past week are all re-lists and in each case the agency has changed.

Two homes also were marked contingent. One only came on a couple weeks ago. When it sold before, it never even made it to the multiple listing service - and the price is over $600,000 and it's not waterfront or village! Fascinating!

Two homes also closed. One was reduced from around $300,000 to the mid- $200,000 mark at closing, therefore about 20% off the original price. The other sold quickly in the fall - also for about 20% off the price. We now have 9 closed properties so far this year.

Back in 2008 - there were 94 active homes and 13 properties had closed. It wasn't a particularly good year, either.

But the sun was amazing today, summer is coming for the weekend, rates are still extremely low, and Bob just told me Doug's was packed. He took out the Del Sol and has brought me salmon! (Remember, Doug's will return to 1982 pricing for a day on Monday!) You know where Doug's Fish Fry is - to the right of RE/MAX!