Tuesday, May 17, 2011

Skaneateles Real Estate - The Bi-Monthly Update (sort of) - Part Two

This is the second half of the update for May 1st through the 13th or so.  I like the split - it makes it manageable.  The first half was the plethora of new listings, and now I will explore the contingent, under contract, pending and sold listings.

There are currently 6 homes marked contingent under Skaneateles.  Three of these are new, and ALL of them were listed in the mid-$100,000 range.  Coincidence?  I think not!  I think this is the range in which people may be buying a first home and therefore have nothing to sell.   They are all on the periphery of Skaneateles and each one has a bit of land.  Two of them need a bit of work and those are the ones whose price was reduced from previous attempts at sales.

The two that are under contract or pending (of the 7 altogether) are in the mid-$300,000.  Nothing remarkable here - the coincidence of price is just that.

We now have 16 closed sales for the year.  Three of these occurred in the past two weeks.  One is a village home that was listed, I believe, for at least two-plus years with two different Realtors.  I showed it multiple times and it closed about 10% under its list price.  The second one was a newly built home that I loved, and it came in right around its list price of $450,000.  Builders generally stick to their prices which are reflective of their costs.  The third was a home previously listed and now sold by the listing agent - lake rights, in need of work - but rented while it was marketed around $300,000.  Again, a 10% reduction brought the sale.

Since this is not very long, I want to check some of our neighboring communities.  As it stands now, Skaneateles has exactly the same number of closed homes as last year!  Marcellus has only 14, as compared with 18 the previous year.  Camillus is also going the wrong way, with only 53 as compared with 63 for the beginning of 2010.  Elbridge is basically Elbridge, with 8 this year and 7 last year.

I have one solution for that - buy my listing at 1 Orchard in Marcellus please!  Only $125,000 - and everyone who has seen it agrees it is wonderfully decorated and masterfully maintained.