Thursday, May 27, 2010

Skaneateles Real Estate - The Weekly Update

Things are beginning to move now. I've spoken with several people who have seen a definite uptick in their purchase offers and offers on listings. We all seemed to have buyers and/or listings, but no offers. It's changing!

Currently there are 130 active listings in the Skaneateles area of the multiple listing service. Twenty-five are in the village. We are creeping up again to the 150 or so we had a couple years ago when the market was just beginning to feel the pinch. The higher number seems to be the effect of people waiting to sell and now finding that waiting has not brought the change in the economy they had expected. So houses come back on, increasing the inventory.

Picking up on that theme - four homes have come onto the market. One is truly a new listing because it is new construction, under $400,000. The other three are waterfront re-lists, albeit one with a twist. A small camp was re-done and is now on the market at a higher price. it will be interesting to see how it does over the summer.

Of the 130 active listings, 39 are considered waterfront. Oh, for the good old days when a new listing would come on and everyone would tell their buyers "Fly in - hurry! - it will be gone, if it isn't already!" But we still have great deals out there and a most magnificent lake! Now you get a choice - that's all!

An agent gave me a great saying that she got from someone else - Each house is in two contests - one for best price, and the other for beauty. For something to sell, it needs to win both contests. Location is still important, but condition and price will win when there are many choices in the same location.

There is one newly marked contingent home. Listed for two years by another agency, this one seems to have sold, or at least is under contract. Over $400,000, too!

We do have excellent news. There are now 19 homes that have closed this year - four new ones this past week! The one thing they have in common is that they are either out of the Town of Skaneateles or in a different school district. New York is unlike other states - the districts spill over even into other counties. New 4 BR, 2.5 Bath construction closed well under $400,000. Two others - one a foreclosure - also closed around their list prices, selling within a couple months of their listing date. The last is waterfront, on the market through several agencies for several years, closing well under its original list price. (There are now three waterfront homes that have closed this year.)

Almost there! When we get to 20 homes I will publish the list with their sale prices as I did last year.

Lastly, I stand corrected! Please read the comment attached to the last blog - Moro's Bistro is not coming to Skaneateles after all. Intrepid Janet caught my error first and warned me, and then this comment came in for which I am profoundly grateful. See you in Auburn! (I promise to stop reading awnings!)