Wednesday, March 30, 2011

Skaneateles Real Estate - The Bi-Monthly Update

I looked back to last year's blog about this time. It was "Basketball Day" and I wrote in orange...sigh....but like the housing market, SU will come back, too! The spring listings have started, and I must admit I've been among the crowd to bring them on. Currently there are 101 active listings in the Skaneateles area of the multiple listing service (even if they are in another county). Of these, 33 are in the village and 28 are waterfront. Ten - count 'em! - 10 new listings came on this past week. Of course, 3 were re-lists - an over 1M waterfront, an almost $450,000 town house with acreage, and a village home in need of care for the low $200,000s. The others were three waterfront homes ('tis the season) ranging in price from $525,000 to $985,000. Another has lake rights but looks lovely for the mid-$200,000. Going out a bit there's a very pretty newer home with acreage for around $500,000 but you can always stay in the village and enjoy my listing at 50 West Genesee Street for a mere $420,000 (yes, I am advertising it here...) There are no new contingent properties - the old three remain. Of the five marked "U" - under contract, do not show - one is new, a gorgeous village house that had incredible work put into it and listed almost at $700,000 and sold almost immediately. There are buyers out there. So far this year 10 properties have closed, and 3 are new in the past two weeks. One is a lake rights home that had been on the market for a bit, and closed in the lower $400,000, about 12% off its original list price. A poor house that stood vacant for a long time closed under $100,000 while it had been listed about $200,000 to begin. Staging could have helped it immensely. The third was a home in the town that closed around $200,000, about 10% off its list price. Last year we had closed 7 homes by this time. I think our improved number indicates a swing towards the market coming back in Skaneateles. And why not? Our homes are lovely, the lake is beautiful and pure, the village a great place to live as well as vacation. Plus mortgage rates are low - so come on down and see what we have to offer!