Thursday, September 2, 2010

Skaneateles Real Estate - The Weekly Update

This is the "hot" edition. I do not remember another summer as warm as this one, ever. I remember pockets of heated days when it seemed to stay near 100 degrees and then would break with incredible thunderstorms, and the world would be fresh again. I always thought I liked the heat, but I feel as if I am bathed in an least it's cool here in my office at home, Koko curled up on the rug next to me, Boo stretched out on the kitchen hardwoods. If we keep the windows closed the heat stays out. But not the way I want to live in the summer!

Enough whining, on to important matters! There are currently 147 active listings in the Skaneateles area of the multiple listing service. Of these, 29 are in the village. One-third are under $280,000 in price, the second third climbs to $495,000, and the last moves up from there to three million, or thereabouts. Interesting exercise. I'll do it again with the closed properties.

Two new single family homes came on the market in the past week - one is a re-list under $250,000, another is waterfront under 1M, and one I particularly like at that. Not my listing, unfortunately, but I will certainly attempt to sell it.

Nothing new has been marked contingent, but one property - waterfront under 500K - has been pended.

We now have 44 closed properties in the area, two new ones just this week. One was waterfront listed in July of this year closed at about 70% of its list price. Another village property that listed two years ago just closed about 24% under its original price. Both are cautionary tales of listing competitively right at the start or willingness to negotiate.

Applying the same divisions as I did in the active listings, I can say that the first third list price of sales was $194,000. The second third went up to $350,000, and the last stopped at 1.5M. Those are interesting ratios, frankly - the first two come in right around 70% of the active list thirds. I always wonder what is happening when numbers collide like that - must be the heat!

Soon it will be fall - crisp days, new apples, cool evenings - and this long hot summer will be but a pleasant memory.