Thursday, June 16, 2011
Skaneateles Real Estate - The Bi-Monthly Update (sort of)
It's been longer than I like to go as far as writing here. No excuse. I simply was extremely busy, had friends in over the weekend for dinner at Bluewater on Friday and Rosalie's on Saturday. As I get older I realize that the friends I had as a girl are the ones I am more likely to stay in touch with - which is odd in a way, because as I look at our stats we are vastly different. Life style - only four of the eight are married (still), five of us have grown children, only one is a grandmother, and only three of us have full-time jobs. We all agree on having pets, dogs and cats and even horses, and that may be the only thing. Plus we like each other mostly, and can generally pick up where we left off. My world is certainly richer for their continuing presence.
But back to Skaneateles and the new listings that have appeared in the past 16 days. The listings can be summed up by saying they are half re-lists - houses that have been refreshed to appear newly listed either after being leased or with a price drop or simply "because." Just as a new one came on in the village for slightly under $400,000 (and has a very decidedly "cool" factor) another one was re-listed at about the same price. There are now 43 village homes on the market.
Outside of the village 9 listings came on the market. Five are re-lists, ranging in price from under $200,000 to well over a million dollars. Two are waterfront. The new ones are in the $250,000 to $400,000 range - even the one with lake rights and the other right on the water (think small, very small...)
Because guilt has caught up with me, I will continue on with the contingent properties. There are 14 in all - I don't remember a time when there were so many! - and four of them are new. A pretty village property that's been dropping its price fairly regularly is now marked contingent, a house in the town that came on with a very good price is also gone after just a few weeks, and a smaller one with one of the lowest prices is also marked contingent. A beautiful waterfront home listed under two million - but just - is also as sold as "contingent" can be.
Nothing new in the "under contract, do not show" listings. There are 8 marked pending, including two new ones that went directly there, one a waterfront property and the other with acreage. Cash is good these days, and while I have no knowledge that this is what the financing is, going directly to pending often means just that.
We now have over 20 homes sold and closed this year. This compares with 27 in 2010, 38 in 2009, and only 19 in 2008 by this date in June. Three new ones were reported. One sold over its list price, another sold just about at its list price, and a third came in at about 20% of its original price. Really can't predict a trend here at all - except that the right pricing brings buyers. Not always true, because each house is different, but the adage about "if you lower the price far enough someone will buy it!"
So things have slowed enough to be able to report the update in one blog - but soon the contingents will turn into pendings that will turn into solds. My prediction: that it won't take five and a half months to close the next 20!